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The Aussie dropped as much as 0.51% to $0.6669, the lowest since Sept. 12, before changing hands down 0.38% at $0.6678 as of 0133 GMT. The New Zealand dollar sank as much as 0.69% to $0.6041, a level last seen on Aug. 19. China will hold a press conference on Thursday to discuss promoting the "steady and healthy" development of the property sector. The dollar was little changed at 149.135 yen , not far from Monday's high of 149.98 yen, the strongest since Aug. 1. The euro edged 0.05% lower to $1.08875, and earlier touched $1.0882, matching the low from Tuesday, which was the weakest level since Aug. 8.
Persons: There's, Ray Attrill, there's, Attrill Organizations: New Zealand, National Australia Bank, Statistics, U.S, Traders, Fed, European Central Bank Locations: New Zealand, Beijing, China, Statistics New Zealand
Dollar extends gains while investors parse China's stimulus plans
  + stars: | 2024-10-14 | by ( ) www.cnbc.com   time to read: +4 min
The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. "Markets are likely disappointed that China's Finance Ministry did not unveil concrete additional stimulus," said Richard Franulovich, head of FX strategy at Westpac, in a note. The yuan is down 0.9% against the dollar since Sept. 24, when the People's Bank of China kicked off China's most aggressive stimulus measures since the pandemic. The yen and euro both fell around 0.3% each, sterling shed 0.4% and the dollar index climbed 0.4%.
Persons: Lan Foan, Richard Franulovich, Christopher Wong, Christopher Waller Organizations: Federal Reserve, Finance, China's Finance Ministry, Westpac, People's Bank of China, CSI, Fed, Traders, New Zealand Locations: Asia, Japan, China, Singapore, U.S, United States
Citi: 'no magic number' for RBI's FX reserves
  + stars: | 2024-10-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti: 'no magic number' for RBI's FX reservesCiti's chief India economist, Samiran Chakraborty clarifies how the Reserve Bank of India shores up its forex reserves, determined by India's balance of payments and capital inflows. He also discusses labor market data, noting that improving skills is a key focus for the Indian government's five-year term.
Persons: Samiran Chakraborty Organizations: Citi, RBI's FX, Reserve Bank of India Locations: India
The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.
Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPremium of possible Trump presidency hasn't been priced into FX markets: CitiDaniel Tobon of Citi explains the potential impact of Donald Trump and Kamala Harris' policies on the forex markets.
Persons: hasn't, Citi Daniel Tobon, Donald Trump, Kamala Harris Organizations: Trump, Citi
Alphadyne Asset Management hired JPMorgan's Thomas Byuen as a commodity index portfolio manager. Hedge funds like Balyasny and Jain Global have poached big bank commodity traders in recent years. Byuen, global head of commodity index trading, joined the bank in 2012 out of college, according to his LinkedIn profile and industry records. More recently, Jain Global, the most hyped new hedge fund launch in years, hired BofA's Max Lee, head of commodity and FX systematic strategy trading. Commodities is a top strategy at the fund, which brought in ex-Macquarie exec David Hochberg to lead the unit.
Persons: JPMorgan's Thomas Byuen, , wasn't, Thomas Byuen, Max Lee, Mike Severo, LMR, Goldman Sachs, Will Scott, Morgan Stanley, Dan Deighton, Balyasny, Deighton's, BofA's Max Lee, David Hochberg Organizations: Asset Management, Jain, Service, Alphadyne, Management, JPMorgan, Verition Fund Management, Balyasny Asset Management, LMR Partners, Commodities, Macquarie Locations: BofA
An upcoming biopic sees British pop star Robbie Williams portrayed by a CGI monkey. In the upcoming film, which is titled "Better Man," Williams is portrayed as a CGI monkey, to which he lends his distinctive voice. In "Better Man," actor Jonno Davies wore a motion capture suit so his movements and expressions could be recorded. Critics have praised the film for its originalityRobbie Williams is portrayed as a CGI monkey in "Better Man." "Better Man" will be released in selected theaters in the US on December 25, with a wider release set for January 17.
Persons: Robbie Williams, Michael Gracey, , Elton John, Amy Winehouse, Williams, I'm, I've, Gracey, Loic Venance, Jonno Davies, hasn't, Maureen Lee Lenker, David Ehrlich, Peter Debruge Organizations: Service, Paramount Pictures, The New York Times, Cannes Film, Getty, FX, Metro, Telluride Film, Times, Toronto, Entertainment Weekly Locations: British, AFP, America, Europe
The yen carry trade unwind in August led to a temporary market pullback and recovery. AdvertisementThe foreign exchange market has been eerily quiet since the yen carry trade unwind. Much of the moves from the yen carry unwinding witnessed in August happened at this layer, Barrett said. But what we've seen in the yen carry trade is only the beginning, Barrett said. "Now, you may not think that's a yen carry trade, but it's absolutely the purest yen carry trade because all of that pension fund money started off as yen," Barrett said.
Persons: , David Barrett, allocators, unwinding, Barrett, It's, it's, Harris, David, Trump Organizations: Service, EBC Financial, Bank of, Bloomberg, Big Tech, Nvidia Locations: Bank of Japan, Japan
Western sanctions have forced Russia to rely on the Chinese yuan for reserves and trade. China's financial system is deeply tied to the greenback, limiting diversification options. These include the entrenched role of the greenback in the global commodities trade and much larger foreign reserves than Russia, wrote Greene, a former senior advisor at the US Treasury. However, many CIPS participants are highly connected to the dollar financial system and potentially subject to the reach of US sanctions. The dollar is still kingIn short, China just can't copy Russia's sanctions-proofing playbook and is likely to continue orbiting around the dollar financial system in the near-term.
Persons: , China —, Robert Greene, Greene, China's, It's, dollarization, James Lord, Morgan Stanley's, Michael Zezas Organizations: Service, Carnegie Endowment Asia, US Treasury, Patomak Global Partners, Federal Reserve Bank of Boston Locations: Russia, China, Beijing, Russia's, Ukraine
Warning: This article contains some spoilers for the show “Grotesquerie.”Travis Kelce made his acting debut Wednesday night as a flirtatious hospital attendant in Ryan Murphy’s “Grotesquerie,” a role that saw him court the protagonist into a budding affair. Aside from Kelce, the show also stars Courtney Vance, Lesley Manville, Nicholas Alexander Chavez and Raven Goodwin. Following mounting fan anticipation, Kelce finally appears in the show as Ed Laclan, a hospital orderly who gradually flirts his way into a date with Lois. As he and Lois strike up a playful conversation, Ed tells the detective, “You are oddly beautiful. Lois gets back on the road only to end up crashing her car and waking up back in the hospital.
Persons: ” Travis Kelce, Ryan Murphy’s “, , Taylor Swift —, Lois Tryon, Niecy Nash, Betts, Megan, Micaela Diamond, Courtney Vance, Lesley Manville, Nicholas Alexander Chavez, Raven Goodwin, Kelce, Ed Laclan, Lois, Redd, Ed, , she’s, ” Ed, haven’t, Jason Kelce, hadn’t, Donna Kelce, he’ll, Murphy, Kelce’s, Travis, ” Murphy, “ Everybody’s, ” Kelce Organizations: Kansas City Chiefs, Manville, Chiefs, NFL, FX, New Locations: , New York
The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. "I do think that if the payrolls report overall is not too shabby tomorrow night, then we will see that pricing (for a 50 basis-point cut) coming in quite significantly." The dollar added 0.09% to 146.575 yen after earlier reaching 146.885 for the first time since Sept. 3. The euro was little changed at $1.10455, sitting not far from Wednesday's low of $1.10325, a level last seen on Sept. 12.
Persons: European Central Bank policymaker Isabel Schnabel, Ray Attrill, Attrill, Asahi Noguchi, Sterling Organizations: Federal Reserve, European Central Bank, Private U.S, ADP, Fed, National Australia Bank, Dovish Bank of Japan Locations: U.S, Iran, Israel
Learn moreThe Real Housewives of New York City are back for a 15th season, and this year is shaping up to be just as exciting as the last. How to watch The Real Housewives of New York in the USThe Real Housewives of New York airs Tuesdays at 9 p.m. Cord-cutters hoping to live stream new episodes can do so with the help of live TV packages like Sling TV, DirecTV Stream, or Fubo. This grants subscribers access to all 14 past seasons and most other Real Housewives series, so there's a massive back-catalog of programming for Bravo fans. Check price at ExpressVPNHow to watch The Real Housewives of New York with a VPNSign up for a VPN if you don't already have one.
Persons: Sai De Silva, Ubah Hassan, Erin Lichy, Jenna Lyons, Jessel Taank, Racquel, we've, Fubo, Peacock, ExpressVPN Organizations: Business, Housewives, New, Real Housewives, New York, Bravo, DirecTV, DirecTV Stream, NBC Locations: New York City, New York, York, United States, USA
Waiting for clarity on Ishiba's impact on JPY: Strategist
  + stars: | 2024-09-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWaiting for clarity on Ishiba's impact on JPY: StrategistRichard Franulovich, Head of FX Strategy at Westpac Institutional Bank, says he expects the Japanese yen to trade through 140 for now, affected more by the Fed & dollar direction as markets wait for clarity over the impact of Shigeru Ishiba's election as Japan's prime minister.
Persons: Richard Franulovich, Shigeru Ishiba's Organizations: FX, Westpac Institutional Bank, Fed
"Inside Out 2," "Oddity," and "Will & Harper" are three movies you can stream now. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHere's a complete rundown of all the best movies, shows, and documentaries to stream this weekend, broken down by what kind of entertainment you're looking for.
Persons: Harper, , Will Ferrell's, Brad Pitt, George Clooney, Ryan Murphy's Organizations: Service, Disney
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. It was the first major Western central bank to reduce interest rates back in March. Domestically, Swiss inflation remains subdued, with the latest headline print pointing to a 1.1% annual increase in August. Further cuts in the SNB policy rate may become necessary in the coming quarters to ensure price stability over the medium term," it added. He added that the central bank may nevertheless have to reduce rates again to retain inflation in the 0-2% target range.
Persons: exacerbation, Swissmem, SNB, Kyle Chapman, Chapman, Thomas Jordan, Jordan, Adrian Prettejohn, Prettejohn Organizations: Swiss National Bank, European Central Bank, U.S . Federal Reserve, Swiss, U.S ., ING, Ballinger Group, Reuters, Capital Economics Locations: Zurich, Switzerland, Swiss, Europe
China's stimulus package has boosted market sentiment and pushed the Chinese yuan to a 16-month high. But a strong yuan could hurt exports, a key pillar of China's economy, amid weak domestic demand. AdvertisementChina's massive stimulus package for its battered economy has boosted market sentiment and injected confidence into the Chinese yuan. This means $1 could buy fewer Chinese yuan. A strong yuan is bad for exportsEven though a strong yuan signals confidence in China's economy, analysts aren't sure the gains will hold.
Persons: , Pan Gongsheng, Vishnu, Varathan, Larry Hu, Hu, aren't, Pan, Macquarie's Hu Organizations: People's Bank of China, Service, US Federal Reserve, Macquarie Group, Lombard, Bloomberg Locations: Asia, Japan, China, Beijing, Swiss, China's
Bitcoin jumps while Japan holiday dulls most currencies
  + stars: | 2024-09-23 | by ( ) www.cnbc.com   time to read: +4 min
The Bank of Japan left interest rates unchanged last week and indicated it was not in a hurry to hike them again. That decision, coming just days after the Fed's 50 basis points rate cut, put a pause to the yen's sharp gains this month. With Japan closed for Autumnal Equinox Day, the main driver of trade was expectations around further Fed rate cuts and the gains those have spurred in equities, commodity currencies and other risk assets. The Fed's rate cut "appears to have calmed market fears of a U.S. recession", Goldman Sachs said in a note. Meanwhile, the majority of economists polled by Reuters anticipate two more 25 bps rate cuts at the Fed's final two meetings this year.
Persons: Bitcoin, Goldman Sachs, Christopher Waller, Fumio Kishida, Takaichi —, , Shigeru Ishiba, Shinjiro Koizumi, Junichiro Koizumi, Takaichi, pare Organizations: Federal, Bank of Japan, Japan, U.S, U.S ., FedWatch, Treasury, Reuters, House Republicans, Liberal Democratic Party, Barclays, The Bank of Locations: United States, Japan, U.S, The Bank of England
Speaking to reporters at a press conference attended by Business Insider ahead of the "Grotesquerie" premiere, Murphy explained how the unexpected casting came about. This story is available exclusively to Business Insider subscribers. "I always have a motto in my world and in my work that a star is a star is a star," Murphy explained. Murphy had just started on pre-production on "Grotesquerie," and he offered to tailor a part in the show specifically around Kelce. According to Murphy, Kelce spent months working with an acting coach, showed up to set off-book, and knew everybody's lines.
Persons: , Taylor, Travis Kelce's, Ryan Murphy, Murphy, Kelce, he'd, Kelce he'd, Travis Kelce, Lois Tryon, Niecy Nash, Betts, Micaela Diamond, hasn't, Nash, Netflix's, Lyle, Erik Menendez, He's Organizations: Service, Business, The Kansas City Chiefs, Kelce Locations: Kelce, The, Hulu
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's LDP election: Takaichi win would have 'biggest implications' on BOJ policy, strategist saysMitul Kotecha, Barclays' head of FX and emerging markets macro strategy in Asia, says there would be pressure on the Bank of Japan to hike rates "less aggressively than would've been anticipated" or even a "delay in a January move."
Persons: Takaichi, Mitul Kotecha, would've Organizations: Barclays, Bank of Japan Locations: Asia
Learn more9-1-1: Lone Star is back for one final season of the high-stakes first-responder drama. We'll show you everything you need to know about where to watch 9-1-1: Lone Star, whether you want to tune in live or don't mind waiting a day to see it on-demand. While the original 9-1-1 moved to ABC earlier this year, 9-1-1: Lone Star is finishing out its run on FOX. Where to watch 9-1-1: Lone Star in the US9-1-1: Lone Star airs on FOX on Mondays at 8 p.m. Check price at ExpressVPNHow to watch 9-1-1: Lone Star with a VPNSign up for a VPN if you don't already have one.
Persons: Rob Lowe, Ronin Rubinstein, Gina Torres, Rafael Silva, Brian Michael Smith, Natacha Karam, Jim Parrack, you've, it's, ExpressVPN Organizations: Business, Star, ABC, FOX, Lone Star, Sling, DirecTV, Bravo, DirecTV Stream, Hulu Locations: Austin , Texas, USA
Here's where to invest $1 million, according to the pros
  + stars: | 2024-09-23 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +4 min
If you had as much as a spare $1 million to invest right now, what should you buy? Balanced-to-medium risk profile With as much as $1 million to invest with, investors can buy individual securities instead of being restricted to funds, said David Dietze, managing principal and senior portfolio strategist at Peapack Private Wealth Management. "A much smaller amount leaves an investor forced to invest in funds to get adequate diversification. With one million, one could say invest $20K in fifty different stocks and be well diversified," he said. More aggressive risk profile Gambles says that taking on a more aggressive stance would mean an "all in commitment" on the themes he expects will perform, and removing any hedges against those trades.
Persons: Paul Gambles, David Dietze, Dietze, Bristol Myers, Gambles Organizations: U.S . Federal Reserve, CNBC Pro, Family, Yen, Wealth Management, Bristol, BHP Group, Hershey, BHP Locations: China, Australian
Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."
Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain,
"You just don't know. I don't know. I think that's hysterical. I have made movies I still don't know if they came out. They may have come out and done very well; I just don't know.
Persons: Edie Falco, wasn't, Carmela, Falco, she's, She's, It's, Wanda, Brendan Walsh, Jackie, she'd, Pete Davidson's, Hillary Clinton, James Gandolfini, hadn't, Andrew, Furio, … I'm, would've, Michael Gandolfini, Taylor Hill, Tony, James Gandolfini's, Michael, I've, Soprano, David Chase, Jackie Falco, It'd, haven't, Pete Davidson, Joe Pesci, Pete —, Pete, Hillary Clinton Falco, Ryan Murphy, Hillary, Kamala, Walz, Edie, it's Hillary, I'm, you've Organizations: HBO, Business, Getty, Prime, Century Studios Locations: Newark, America
Dollar rebounds after Fed goes big on rate cut
  + stars: | 2024-09-19 | by ( ) www.cnbc.com   time to read: +4 min
The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets. Fed policymakers on Wednesday projected the benchmark interest rate would fall by another half of a percentage point by the end of this year, a full percentage point next year and half of a percentage point in 2026, though they said the outlook that far into the future is necessarily uncertain. "So to expect an easing today because of what the Fed has done seems a little bit too hard to believe." Elsewhere, the Australian dollar edged up 0.05% against its U.S. counterpart to $0.6768, while the New Zealand dollar advanced 0.04% to $0.6210.
Persons: Jerome Powell, it's, Rodrigo Catril, , Eric Robertsen, Sterling, NAB's Organizations: U.S, Wednesday, Reuters, National Australia Bank, Bank of England, New Zealand Locations: U.S, Singapore
Gold is already near the top of the 2024 range of outcomes projected by BlackRock Investment Institute, for example. Emerging market central banks have about 6% of their FX reserves in gold, and developed markets have about 12%. "Weaponizing dollar-based systems, including SWIFT , has led to more people, more countries specifically — more sovereign wealth funds and central banks — not trusting dollar-based assets as much. ETF flows As central banks have been bidding up gold, smaller investors were selling for much of this year. The VanEck Merk Gold ETF (OUNZ) and the Abrdn Physical Gold Shares ETF (SGOL) are the other funds with at least $100 million in net inflows this year, according to FactSet.
Persons: there's, Robert Minter, Minter, SWIFT, Lauren Goodwin, we're, Chris Verrone Organizations: Federal, Nasdaq, BlackRock Investment Institute, Abrdn, World Gold Council, U.S ., FX, United, Russia, New York Life Investments, MiniShares, Federal Reserve Locations: U.S, Abrdn . Central, Central, United States, Ukraine
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