- China funds, brokers have been requested to buy stocks ahead of the Party Congress
- World Bank slashes economic growth forecasts for China
- Nasdaq technical analysis: Trading this swing Long potential
- Chinese police said they have busted a cryptocurrency laundering scheme circa US$5.6 bn
- Japan Finance Minister Suzuki says will continue to monitor the FX market
- China January - August industrial profits drop further: down 2.1% y/y (prior -1.1%)
- Bank of Japan with another unscheduled JGB buying operation today
- PBOC sets USD/ CNY central rate at 7.0722 (vs. estimate at 7.0410)
- ECB President Lagarde is speaking Tuesday, 27 September 2022, De Guindos also
- The estimate for the PBoC USD/CNY reference rate has jumped higher again for today
- USD losing some ground in Asia morning trade
- Recap - RBNZ's Orr said still some work to do but tightening cycle already very mature
- Japan data - August Services PPI +1.9% y/y (expected 2.4%, prior +2.1%)
- Australia consumer confidence weekly survey rises by 2.1% w/w
- Bank of England Chief Economist pill is speaking Tuesday, 27 September 2022
- Fed hikes ahead: Nov: 75bp, Dec 50, Jan/Feb 25. Recession probability now above 50%
- Société Générale pours cold water on talk of a Plaza Accord to reverse the US dollar surge
- Eastward gas flows via Yamal-Europe pipeline resume
- Fed's Mester says we don't set the value for the US dollar
- South Korea's consumer inflation expectations have fallen for a second consecutive month
- Fed's Mester: Fed's policy rate may be right below restrictive level, not at neutral yet
- Goldman Sachs slash their GBP forecasts
- Late-day puke in Treasuries is a fresh sign of trouble
- Trade ideas thread - Tuesday, 27 September 2022
- Forexlive Americas FX news wrap: BOE statement does more harm than good
- Fed's Mester says further rate hikes will be needed, and restrictive policy for some time
It was a day of very light news and data flow.
It was also a day of mixed fortunes for the USD. Broadly speaking the big dollar fell back a little (almost) across the board. EUR, AUD, NZD, even the hapless GBP, rose. USD/JPY, though is very little changed. It traded a little higher, towards 144.70 very early but subsided and is now circa 144.50 as I update. We had some commentary on yen weakness from Japanese finance minister Suzuki, but it was light on. This was offset somewhat by the Bank of Japan carrying out an unscheduled Japanese Government Bond buying operation,. Thus reaffirming, yet again, its ultra-loose monetary policy and thus cutting the legs out from under the yen!
On a more notable development Bitcoin ticked higher, towards but just short of hitting $US20K.
