US Treasury Secretary Yellen to visit China (maybe) US Treas Sec Yellen is considering making a trip to China sometime in the months ahead That's the scuttlebutt says Bloomberg, citing unnamed sources.
NZ house price data for July, median +2.4% m/m and +25.1% y/y Real Estate Institute of New Zealand (REINZ) data The New Zealand government has ordered the Reserve Bank of New Zealand to take house prices into account in policy setting.
Lordstown Motors says it is likely to begin only ‘limited production’ of its electric truck this year. The company, which has yet to produce a truck, said it lost $108 million in the second quarter.Lordstown Motors said it was considering renting out parts of its factory to other companies.
New Zealand data due today (inflation expectations) can be a NZD mover The data is the RBNZ's Q3 Survey of inflation expectations, due at 0300 GMT. In the past this release has given the Kiwi $ a bit of a poke around. Given the Reserve Bank of New Zealand is expected to hike rates next week (August 18, a 25bp cash rate rise is 100% priced by rates markets)
California Solar Panel Mandate for New Buildings Advances The state’s Energy Commission voted to require commercial and high-rise multifamily projects to have solar power and battery storage.Workers install solar panels on the roof of the Van Nuys Airport in Los Angeles in 2019.
Should the Unvaccinated Be Required to Pay for Hospital Bills? My friend and fellow economist Jonathan Meer of Texas A&M University had a provocative article on Market Watch last Friday in which he advocated making people who refuse to be vaccinated pay for their own medical bills in the event they are hospitalized for Covid.
Trade ideas thread - Thursday 12 August 2021 Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
ICYMI - China is to strengthen its anti-monopoly laws (antitrust and unfair competition) Overnight reports in Chinese media (state tabloid Global Times) in a five-year plan. Main points: Link to the GT is here for much more Chinese authorities have been very active in recent weeks cracking down on various sectors, notable education and tech.
S＆P and Dow close (again) at new highs. Nasdaq recovers but still lower on the day Nasdaq lower for the 2nd consecutive day The Dow and S&P closed at record levels for the second consecutive day. The NASDAQ closed lower for its second day of declines.
Weight Watchers shares dive as people put diets on hold Shares in the Oprah Winfrey-backed company drop 25% as subscriber numbers fall after lockdown.
US President Biden says he is not worried about the debt ceiling. Republicans will not allow the US to default. It'd be great if we could take this at face value and stop sweating about the debt ceiling 'negotiations'. Its the same farce every year and, so far, no default.
ForexLive Americas FX news wrap: Dollar cools after CPI flattens Forex news for North American trading on August 11, 2021: Markets: The CPI report was the main event and it was telling. The numbers were close to expectations all around but because inflation has stopped rising and the core m/m number slowed to 0.3% from 0.9%, the market quickly took the view that inflation has crested.
Mexican Peso Outlook: USD/MXN at Risk as Traders Eye Another Banxico Rate Hike Banxico is seen hiking rates by 25bp to 4.50% tomorrow. As the move has been discounted, traders will be paying close attention to forward-guidance to determine the path of monetary policy.
Economic calendar due from Asia today - Thursday 12 August 2021 None of these are likely to move FX much upon release. Eyes will once again be on China markets. 0300 GMT Reserve Bank of New Zealand data for inflation expectations, Q3 2021
EURUSD finds the sellers near overhead resistance target area The 1.1751 to 1.1756 area stalls the rally in trading today After the CPI data today, the EURUSD raced up and got close to a swing area between 1.1751 1.17566. The high price reached 1.17488 and rotated back down (). The low stalled just ahead of the earlier Asian session high for the day at 1.17248.
US dollar fights back as Treasury yields recover Treasury market steadies after auction The last leg of US dollar weakness has been wiped out as the bond market digests an extremely strong auction. The 3.2 bps stop through in the 10-year auction was the largest in the yer but it came on a very strong indirect bid, likely foreign buyers.
New York Stock Exchange to Require Floor Traders to Get Vaccinated The stock exchange is stepping up its measures against the coronavirus amid rising cases of the Delta variant.
Oil Price Forecast: Crude Rebound Emerges amid Failed Test of July Low The price of oil appears to have reversed course following the failed attempt to test the July low ($65.01) as it carves a series of higher highs and lows.
California regulators are voting on solar mandates for new buildings. The state’s Energy Commission is considering a requirement for commercial and high-rise multifamily projects to have solar power and battery storage.Workers install solar panels on the roof of the Van Nuys Airport in Los Angeles in 2019.