PBOC is expected to set the USD/CNY reference rate at 7.0990 – Reuters estimate

People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed…

Concern over oil market oversupply fears might be exaggerated

In a note last week from Standard Chartered analysts at the bank said oil market sentiment, especially among speculative traders, is highly bearish, similar to levels seen in 2008 during the Global Financial Crisis.Concerns centre on expectations…

ECB Lagarde 'knowledge dependence' is a smokescreen, December fee lower forward

The subsequent European Central Financial institution financial coverage assembly is on December 12. TD predict one other fee lower (the ECB lower by 25bp final week).TD cites:ECB officers (members of the Financial institution's fee setting…

Will the Federal Reserve pause in November and (or) December - Citi with the heads up

Citi feedback reported by Bloomberg (gated) flah the potential of no extra charge cuts from the Federal Open Market Committee (FOMC) for the remainder of this 12 monthsCitigroup Inc.’s Akshay Singal, international head of short-term interest-rate…

Economic calendar in Asia Monday, October 21, 2024 - PBoC rate cut expected

A rate cut from the People's Bank of China is expected (2115 US Eastern time). Preview:Heads up for a rate cut from China expected on Monday, October 21, 2024And, more on the agenda for the week ahead:Weekly Market Outlook (21-25 October)Newsquawk…

Weekly Market Outlook (21-25 October)

UPCOMING EVENTS:Monday: PBoC LPR.Tuesday: Canada PPI.Wednesday: BoC Coverage Determination.Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, US Jobless Claims.Friday: PBoC MLF, Tokyo CPI, German IFO, Canada Retail Gross sales,…

Crude oil futures forecast - weekly chart. Bears eyeing $67.75 subsequent

aCrude Oil Futures Weekly Forecast: Bears in Management, Watching Key Assist Ranges📉 Crude Oil Futures (CL1!) are displaying clear indicators of bearish momentum, with costs falling sharply in current weeks. That is mirrored within the…

Heads up for a rate cut from China expected on Monday, October 21, 2024

China sets loan prime rate (LPRs) on Monday, October 21, 2024.Last month the PBoC cut the 7-day reverse repo rate, and the Medium-term Lending Facility (MLF) rate:PBOC 1-year Medium-term Lending Facility (MLF), rate cut to 2% (2.3% previously)and…

Newsquawk Week Forward: Highlights embody PBoC LPR, BoC, EZ & UK PMI

Mon: PBoC LPRTue: NBH Announcement, IMF World Financial OutlookWed: BoC AnnouncementThu: EZ/UK/US Flash PMIs (Oct)Fri: PBoC MLF (TBC), CBR Announcement, Japanese Tokyo CPI (Oct), German Ifo (Oct), US Sturdy Items (Sep), US College of Michigan…

What are the technicals driving the USDCHF and the EURCHF for October 18

The USDCHF this week prolonged above a swing space between zero.86078 and zero.8619, after which the 38.2% retracement of the transfer down from the July excessive to the September low at zero.86318.Yesterday there was a corrective transfer…