China’s state planner says will monitor commodity prices
US Treasury Secretary Yellen and Japan finance minister Suzuki to meet
Why the RBA will not hike rates as high as the market is pricing (opinion piece)
RBA minutes: Members agreed financial conditions in Australia remain highly accommodative
Japan’s finance minister is still going – says yen has been weakening rapidly
China’s Tangshan locks down 5 districts
PBOC sets USD/ CNY central rate at 6.3720 (vs. estimate at 6.3744)
ICYMI – Libya suspended production at a major oil field over the weekend
Japan finance minister Suzuki says FX stability is important
Reserve Bank of New Zealand Gov Orr – link to full interview
China’s Shanghai reports 20K+ new coronavirus cases (for April 18)
Earthquake north and east of Japan – felt in Tokyo
Federal Reserve speakers coming up on Tuesday 19 April 2022 – Evans and Kashkari
New Zealand services PMI for March 51.6 (vs. prior 48.6)
US to open up some land for oil, gas auction
More from RBNZ Governor Orr – flags further rate hikes ahead
Goldman Sachs says a PBOC rate cut on Wednesday is unlikely
ICYMI – PBOC made a small cut to its RRR, 25bps to take effect from April 25
Forexlive Americas FX news wrap: USD rises. Stocks and bonds little changed. Oil higher.
Trade ideas thread – Tuesday 19 April 2022
ICYMI: Goldman Sachs assesses the probability of a US recession at 35% in the next 2 years
More from Fed’s Bullard. He says there will be no recession.
Major US indices close modestly lower to start the trading week
RBNZ Govr Orr says current challenge is getting a ‘soft landing’ over the next few years
Fed’s Bullard says inflation is far too high, the Fed has a good plan in place
Federal Reserve Bank of St. Louis President James Bullard spoke late on Monday afternoon in the US, saying he would not rule out a 75bp increase but the base case is not for more than 50bps at any meeting. There is more from him in the bullets above.
USD/JPY continued to surge during the session here. Finance Minister Suzuki was reported across the new wires with remarks intended to slow the rise, but to little impact (see bullets above).
News and data flow was fairly light:
Tangshan, in China, is the country’s largest steel producing city. It announced a lockdown in 5 districts.
The Reserve Bank of Australia April meeting minutes were released. Once again no sense of urgency for hiking rates came across. The Bank said it’d be further assessing data over coming months. Some analysts in the market suggested this was code for no rate hike ahead of the Australian election (May 21).
