Bank of England expected to hold off on rate hike – Reuters

The Bank of England (BoE) is widely expected to hold off on a rate increase for today's rate call, as the UK's central bank has had to walk back their hawkish tone recently in the aftermath of a wave of disappointing economic figures. As noted by Reuters, the BoE was set for a rate hik ...

Japan Foreign investment in Japan stocks down to ¥-0.3B in May 4 from previous ¥480.4B

Japan Bank lending (YoY) came in at 2.1%, above forecasts (1.9%) in April

Japan Current Account n.s.a. came in at ¥3122.3B, above forecasts (¥3009.2B) in March

Japan Foreign bond investment declined to ¥-363.7B in May 4 from previous ¥950.3B

Forex today: dollar slides from new trend highs at 93.4160

Forex today took a back seat and let oil prices to the driving. WTI rose sharply in response to news that the US is pulling out of the Iran deal while elsewhere, the markets pretty much shrugged off what had already been projected and the axing of the deal by Trump came as no grea ...

NAFTA renegotiations running into difficulty over autos – Reuters

As reported by Reuters, NAFTA talks are beginning to drag as the US and Mexico are not seeing -eye-to-eye on automobiles, citing unnamed sources. Key quotes "With time fast running out to reach a deal, the two NAFTA members are discussing a U.S. demand that a certain percentage of aut ...

Preview for the key US CPI data – Nomura

Analysts at Nomura offered a preview for the key US CPI data coming up. Key Quotes: "We expect a moderate increase in April CPI. Our forecast for headline CPI inflation is 0.3% (+0.312%) m-o-m which translates into a 2.5% (2.544%) gain on a y-o-y basis.  As for energy and food components ...

United Kingdom RICS Housing Price Balance came in at -8%, below expectations (-1%) in April

RBNZ: statement could be interpreted as more dovish – ANZ

Analysts at ANZ argued that today’s Statement could be interpreted as more dovish than it might have been.  Key Quotes: "Developments since February have been positive for headline CPI inflation on the whole, with a lower exchange rate and higher oil prices." "But the RBN ...

Oil prices reached their verdict on US President Trump’s decision – ANZ

Analysts at ANZ explained that after gyrating on rumours and headlines yesterday, oil prices reached their verdict on US President Trump’s decision to pull out of the Iran agreement, helped along by lower-than-expected US inventories.  Key Quotes: "Both WTI crude and Brent fo ...

AUD/JPY pings off the 82.00 handle as Yen walks back

Aussie climbs against the Yen as investor confidence dips a toe in the water. AUD headwinds are still mounting, dovish RBA still weighs on the currency. The Aussie lifted against the Yen in Tuesday's trading, climbing from a low of 81.13 to bounce off of the 82.00 major handle in the U ...

Trump likely to meet Kim Jong Un in Singapore – CNN

US President Trump is reportedly preparing for a summit with North Korean leader Kim Jong Un in Singapore, according to reporting by CNN. Key quotes "Administration officials have been instructed to move forward with plans to convene a historic summit between President Donald Trump and Nort ...

FundaFX wrap: Dollar jumps through hoops despite Iran noise/higher oil

FundaFX today was focused on the aftermath of Trump's projected decision to axe the Iran nuclear deal, while perhaps leaving the door open for some negotiations to take place during this 90-180 day grace period before full economic sanctions kick in.  The dollar caught a bid and ris ...