SGH Macro Advisors note to clients cited by the folks over at : Zero Hedge – President Xi Jinping … reportedly spent over two hours talking about U.S.-China relations
Forex news for NY trading on June 26th 2018. In other markets: – Gold down -$7 to $1258.68 – US yields are little changed: 2 year down -0.4 bps at 2.5287%. 10 year down -0.3 bps to 2.876% If Monday was a trade worry day, I would characterize today as a day where there was…
The New Zealand business survey for June (ANZ conducts this) showed a marked deterioration in business sentiment This weighed on the NZD but the selling has since spread to AUD also.
China Commerce Ministry says it will assess the potential impact on Chinese firms of expected US investment restrictions Meanwhile the PBOC is doing its bit … more slashing of the CNY price today:
China data for May showing strong industrial profits, barely down on May Of course the perennial concern is how they’ll be going forward ….. rinse, repeat
The two discussed US sanctions on Russia I guess something to watch on this is the desire Trump has expressed for lower gasoline prices – He got something out of OPEC – Saudi pushed for increased productuion , and got some but probably not enough
Business confidence dropped though, comes in at -39 (from -27.2 prior) From ANZ Business Survey for June – Confidence to a 7 month low, the 39% measure is of net respondents expecting the economy to deteriorate further in the 12 months ahead Yeah, this is not a good result and the NZ dollar is under…
Some selling has taken USD/JPY under 110 This happened going into the Tokyo fix Fixings coming through under 109.95 after the USD/JPY had managed to pop above 110.10 earlier
A bit of commentary from the banks on the trade war so far, via Reuters Bank of America / Merrill Lynch U.S. economists Joseph Song and Stephen Juneau note to clients.
What’s JPMorgan looking for in the second half of the year The first half of 2018 is winding down with elevated volatility and growing worries about trade. That’s in stark contrast to 2017 when volatility was at record lows and worries were brushed aside.