Webb
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Will China devalue? We doubt it
Talk of CNY devaluation has hit the headlines lately as upward pressure on USD/CNY continues. We doubt China will turn to such a move. PBOC is currently taking measures to slow the decline, not increase it. And a devaluation is a risky move that could undermine efforts to support the equity market,
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After the US close, it’s the Tokyo CPI
Outlook After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%, and Trading Economics says the consensus forecast is 2.7% but it offers 2.7%. This looks li
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Japanese FX intervention: Primed and ready
With USD/JPY trading above 155, markets are now on high alert for BoJ FX intervention. Having secured a joint press release with US and Korean authorities last week to acknowledge serious concern over yen weakness, Tokyo will now feel it has Washington’s blessing to enter FX markets. We look at when
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Mexican Peso gains after weak manufacturing PMI data hits peers
The Mexican Peso is trading higher in most key pairs after the release of weak manufacturing data hits its counterparts. Manufacturing PMI data out on Tuesday was lower than expected across the board. USD/MXN’s short-term trend has probably reversed from bullish to bearish. The Mexican Peso (MXN) tr
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AUD/USD remains on the defensive below 0.6450, investors await Australian CPI data
AUD/USD holds below 0.6450 in Monday’s early Asian session. The hawkish comments from Fed officials in recent weeks have lifted the Greenback. The moderate Australian inflation data and the continuously tight labour market could prompt RBA rate cuts this year. The AUD/USD pair remains on the defensi
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Silver Price Forecast: XAG/USD falls after early gains from $29, near-term outlook remains firm
Silver price retreats from day’s high amid no signs of retaliation from Iran after limited airstrike from Israel. Fed’s hawkish guidance fails to prompt US bond yields. Fed Williams is comfortable with more rate hikes if inflation remains persistent. Silver price (XAG/USD) falls back while attemptin
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France: Corporations show renewed interest in money market funds and term deposits
Annual flows of money market fund shares/units held by non-financial corporations (NFCs) in France were positive throughout 2023, having been negative from the second quarter of 2021 to the fourth quarter of 2022. This trend reversal was due most notably to the increase in key ECB interest rates on
Pull-up Update