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S&P 500 Technical Analysis – Key support in sight

August 21, 2023

The S&P 500 selloff has been remarkable with key levels being breached with no hesitation as the sentiment turned negative. The reason for the selloff …

Market Outlook

Euro Steadies as Hang Seng Tanks on PBOC’s Shallow Cut. Lower EUR/USD?

August 21, 2023

The Euro eked out small gains to start the week as the US Dollar adjourns it bull run while China’s stimulus measures fall short of …

Central Banks

Higher US Treasury yields have brought the market back closer to what the Fed is thinking

August 21, 2023

Remarks from Deutsche Bank Securities economists on higher yields, saying the Federal Reserve will welcome these due to how strong the US economy is given …

Central Banks

Barclays says there is space for higher US yields, questions if Fed policy “is even tight”

August 21, 2023

Barclays on US Treasuries, say that despite the selloff already that have pushed 10- and 30-year yields to their highest levels since 2007 and 2011 …

Central Banks

JP Morgan on the Federal Reserve – slow path of rate cuts likely to begin in Spring 2024

August 21, 2023

Dow Jones / Market Watch carry remarks from chief global strategist at J.P. Morgan Asset Management Kelly who says the economy in the US doing …

Central Banks

AUD/USD at risk of dropping under 0.60 (unless China stimulates, big time)

August 21, 2023

Commonwealth Bank of Australia flagging the risk of a sharper decline for the Australian dollar. Say AUD will continue to underperform in 2023: We consider …

Central Banks

UBS see limited catalysts that could outweigh the USD/JPY carry trade

August 21, 2023

A back-handed view on the USD/JPY carry trade from what it seems is a reluctant UBS: we move our view on the yen from most …

Central Banks

AUD and NZD marked lower after the People’s Bank of China rate cut is less than expected

August 21, 2023

China cut one-year LPR by 10 bp to 3.45% from previous 3.55% And the Five-year LPR remains unchanged at 4.2%. The property sector is as …

Central Banks

People’s Bank of China sets USD/ CNY reference rate today at 7.1987 (vs. estimate 7.2893)

August 21, 2023

People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade …

Central Banks

PBOC Loan Prime Rates (LPR) CUT: 1-year 3.45% (prior 3.55%) & 5 year 4.2% (prior 4.20%)

August 21, 2023

A cut to the one-year rate of 10bp vs. 15 that was widely expected. And no cut to the 5 year rate at all. Thats …

Central Banks

Fed Chair Powell at Jackson Hole, BoA expect him to pushback against rate cut expectations

August 21, 2023

Federal Open Market Committee (FOMC) Chair Powell is speaking this week at the Kansas Fed’s Jackson Hole symposium. Note for diary & preview – Powell …