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RBNZ policy decision due today – surprise tightening to 5.75% is a risk (but a small one)

October 3, 2023

The Reserve Bank of New Zealand policy announcement is due at 0100 GMT, 2100 US Eastern time. I posted a preview from ANZ earlier: ANZ …

Central Banks

Doubleline hedgefund CEO Gundlach says he sees Fed rate cuts in H1 of 2024

October 3, 2023

Jeffrey Gundlach offering up opinions: says the ‘higher for longer’ stance of the Federal Reserve is a problem that the economy is already seeing expects …

Technical Analysis

NASDAQ index equals its worst trading days since August 24

October 3, 2023

Major stock indices fell sharply today as yields continued their march higher. The 10 year yield rose 11.7 basis points to 4.799%. The 30-year is …

Central Banks

Economic calendar in Asia Wednesday, 4 October 2023 – RBNZ policy decision

October 3, 2023

The Reserve Bank of New Zealand is expected to leave its cash rate target on hold at today’s policy meeting. The announcement is due at …

Technical Analysis

New lows for the USDJPY. Approaching 50% of the move up from the September 21 low

October 3, 2023

In the minutes after the crash in the USDJPY earlier today, the low reached 148.51 not once but twice (see green numbered circles one in …

Central Banks

The market is now pricing in just 59 bps in Fed cuts next year

October 3, 2023

I continue to believe that the main driver of the bond crunch in the past few weeks is the market pricing in a higher-for-longer Fed …

Technical Analysis

AUDUSD trades to a new session low and cracks below trendline support

October 3, 2023

The AUDUSD is trading to a new session low and in the process is moving below the downward-sloping trendline on the daily chart near 0.6297. …

Central Banks

HSBC: 4 reasons to stay bearish on AUD/USD following the RBA’s hawkish hold

October 3, 2023

Synopsis:HSBC has reaffirmed its bearish stance on AUD/USD, highlighting the pair’s underperformance over the past three months. Despite the RBA’s hawkish hold on rates, the …

Technical Analysis

USDJPY spending more time back above the 200 hour MA

October 3, 2023

The USDJPY spiked higher to 150.154 after the JOLTs job data, then tumbled nearly 285 pips in seconds, testing the swing low going back to …

Central Banks

Fed’s Bostic: Higher long-end rates matter if they slow growth too much, no sign yet

October 3, 2023

Higher long-term rates not impacting business beyond what would happen in a normal tightening cycle Says he sees the next move as a single quarter-point …

Technical Analysis

USDCAD buyers push higher for the 3rd day in a row. Breaking above swing areas.

October 3, 2023

The USDCAD is working on it 3rd day in a row with sharply higher prices. Today the price is moving above the high of a …