Market Report (September 19 – September 23) &
Upcoming Events September’22
September 19, 2022
Payment System Report (Q2 2022) (CNY)
According to payment statistics in Q2 2022, the payment systems functioned smoothly across the country. Statistics, including the number of bank accounts, the volume of non-cash payments, and the transaction volume in payment systems, generally maintained smooth growth. See More…
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RBA Meeting Minutes (AUD)
Members commenced their discussion by noting that global inflation was high and well above central banks’ targets in many economies. High inflation was impinging on households’ real incomes and sentiment, and the rapid increase in interest rates would further weigh on aggregate household disposable income. See More…
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BoC Consumer Price Index Core (YoY) (CAD)
In August, the Consumer Price Index (CPI) rose 7.0% on a year-over-year basis, down from a 7.6% gain in July. This was the second consecutive slowdown in year-over-year price growth and was largely driven by lower gasoline prices in August compared with July. See More…
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ECB’s President Lagarde speech (EUR)
I am honoured to deliver the Karl Otto Pöhl lecture this evening on the topic of monetary policy in the euro area.
After a long period when inflation in the euro area was too low, it is now far too high. We are in the tenth consecutive month of record-high inflation rates, and we may see this streak continue in the near term. See More…
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September 20, 2022
Fed’s Monetary Policy Statement (USD)
Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures. Read More...
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Trade Balance NZD (NZD)
NZD/USD takes offers to refresh the 30-month low as it drops to 0.5810 during Thursday’s Asian session. In doing so, the Kiwi pair extends the previous day’s downside break of a four-month-old support line, as well as the 78.6% Fibonacci retracement of the 2020-21 upside. Read More.
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Inflation Rate(JPY)
The Japanese Yen is once again eyeing off the 145 handle to start the week. Intervention by the Bank of Japan in selling USD/JPY last week saw tumultuous price action. A move back above 145 will be watched closely to see if the central bank is still keen to defend that level. Read More…
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British Pound and the Euro Are in a ‘Doom Loop,’ TD Strategist Says (ALL)
The Bank of England has limited power to stop the downward spiral in the UK pound, said strategists at TD Securities, who are predicting more losses in the coming months. The pound and euro are trapped in a “doom loop” caused by soaring energy prices that feed into weaker economic growth and lower currency values, wrote strategists including James Rossiter in a note on Friday. Read More...
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September 21, 2022
Public sector finances (GBP)
Public sector net borrowing excluding public sector banks (PSNB ex) was £11.8 billion in August 2022; £2.6 billion less than in August 2021 but £6.5 billion more than in pre-coronavirus (COVID-19) August 2019, when it was £5.3 billion. See more..
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September 22, 2022
Statement on Monetary Policy (JPY)
Financial conditions in Japan have been accommodative on the whole. Although the impact of the novel coronavirus (COVID-19) has remained in some segments of small and medium-sized firms in particular, financial positions, including of these firms, have been on an improving trend. See more…
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Monetary Policy Assessment of September 22, 2022 (CHF)
The SNB is tightening its monetary policy further and is raising the SNB policy rate by 0.75 percentage points to 0.5%. In doing so, it is countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected. See More…
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BoE Interest Rate Decision (GBP)
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on September 21, 2022, the MPC voted to increase the bank rate by 0.5 percentage points, to 2.25%. See more…
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September 23, 2022
Retail Sales (CNY)
EURO EXTENDS SLIDE, FALLS BELOW $0.98 FOR THE FIRST TIME SINCE 2002. $EURUSD.
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Flash Services PMI (USD)
Key findings:
- Flash US PMI Composite Output Index(1) at 49.3 (August: 44.6). 3-month high.
- Flash US Services Business Activity Index(2) at 49.2 (August: 43.7). 3-month high.
- Flash US Manufacturing Output Index(4) at 49.5 (August: 49.2). 2-month high.
Flash US Manufacturing PMI (3) at 51.8 (August: 51.5). 2-month high. See more…
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German Flash Services PMI (EUR)
Key findings:
- Flash Germany PMI Composite Output Index(1) at 45.9 (Aug: 46.9). 28-month low.
- Flash Germany Services PMI Activity Index(2) at 45.4 (Aug: 47.7). 28-month low.
- Flash Germany Manufacturing Output Index(4) at 47.0 (Aug: 45.3). 3-month high.
Flash Germany Manufacturing PMI (3) at 48.3 (Aug: 49.1). 27-month low. See more…
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French Flash Services PMI (EUR)
Key findings:
- Flash France PMI Composite Output Index(1) at 51.2(Aug: 50.4). 2-month high.
- Flash France Services PMI Activity Index(2) at 53.0(Aug: 51.2). 2-month high.
- Flash France Manufacturing Output Index(4) at 43.4(Aug: 46.6). 28-month low.
- Flash France Manufacturing PMI(3) at 47.8 (Aug:50.6). 28-month low. See more…
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Upcoming Events
Sept 26, 2022
ECB President Lagarde Speaks (EUR)
Jibun Bank Services PMI (JPY)
Sept 27, 2022
Fed Chair Powell Speaks (USD)
CB Consumer Confidence (USD)
Monetary Policy Meeting Minutes (JPY)
Sept 28, 2022
Fed Chair Powell Speaks (USD)
Retail Sales s.a. (AUD)
ECB’s President Lagarde speech (EUR)
Sept 29, 2022
GDP m/m (CAD)
RBNZ Gov Orr Speaks (NZD)
Gross Domestic Product Annualized (USD)
Harmonized Index of Consumer Prices (YoY) (EUR)
Sept 30, 2022
Core PCE Price Index m/m (USD)
NBS Manufacturing PMI (CNY)
Gross Domestic Product (QoQ)(GBP)
Retail Sales (MoM) (EUR)
