USD/JPY losses accelerate on the day, under 146.70 nowFederal Reserve Board Governor Christopher Waller speaks on MondayFinland central bank governor & ECB governing council member Olli Rehn speaks late MondayJapan’s LDP will hold its leadership election on September 27Japan seeking a 700 billion yen valuation for Tokyo Metro, listing as early as end-OctoberFederal Reserve Chair Powell to retain optionality, more data to come before Sept meetingJP Morgan says recent sharp equity market sell-off a ‘dress rehearsal’ for what’s to comePBOC sets USD/ CNY reference rate for today at 7.1415 (vs. estimate at 7.1548)On Friday Powell is likely to highlight inflation progress, allows focus on employmentJapan Machinery orders for June 2024: 2.1% m/m (expected +1.1%)China – the idea of government-issued consumption vouchers are back into the spotlightHere’s another forecast for a September Federal Open Market Committee (FOMC) rate cutUK house asking prices dip, but buyer interest picks up, after Bank of England cutNew Zealand services PMI for July 2024: 44.6 (prior 40.2)UBS expect anther Bank of England rate cut in NovemberThe week starts on TuesdayFed’s Goolsbee says US credit conditions are tight and are getting tighterTrade ideas thread – Monday, 19 August, insightful charts, technical analysis, ideasFed’s Daly says its time to consider trimming ratesHamas has rejected the latest ceasefire and hostage deal proposalMonday morning open levels – indicative forex prices – 19 August 2024
Weekend
Join me on Monday for a webinar on how to avoid 7 common trading trapsNewsquawk Week Ahead: Jackson Hole, Fed and ECB Minutes, Canada and Japan CPI, Flash PMIWeekly Market Outlook (19-23 August)SOL price prediction in crypto: The balanced, realistic, unbiased outlookGoldman Sachs cut its US recession probability after last week’s data, see 25bp Sept cutNext week doesn’t start until Thursday
There
was no high
priority news
nor data from Japan today, although
we did get machinery orders improving beyond median expectations. JPY
swings
continued. After
early trades above 148.00 USD/JPY has dropped back to under 146.70.
The
USD was weaker pretty much across the majors board. Ranges were not
large.
The
Australian dollar are UK pound rose to one-month highs. NZD/USD
gained, as did CAD. EUR/USD consolidated above 1.1020.
News
and data flow were light.
This article was written by Eamonn Sheridan at www.forexlive.com.
