U.S. prosecutors subpoena records on Boeing 787 production -Seattle Times

Federal prosecutors have subpoenaed records from Boeing Co relating to the production of the 787 Dreamliner in South Carolina, the Seattle Times reported on Friday, citing two sources familiar with the investigation. It said the subpoena was issued by the U.S. Department of Justice, which is also conducting a criminal investigation into the certification and […]

RBA Governor Signals a Cash Rate Cut

The Australian Reserve Bank signaled that is aiming for a rate cut. In a speech to economists in Brisbane, the bank governor Philip Lowe claimed that the Australian Reserve Bank decided on its last meeting that inflation won’t come back to its 2 to 3 percent target unless there is a fall in unemployment levels. […]

Dollar holds firm as market awaits Fed minutes; Aussie shines

The dollar held onto last week’s gains on Monday as investors waited for Fed minutes that may give more clues on what prompted U.S. policymakers to strike a broadly neutral stance this month. The minutes, due on Wednesday, are expected to give insights into the May. 1 Fed meeting which decided to keep interest rates […]

Singapore Dollar Is Slipping as Trade War Chips at Monetary Band

The Singapore dollar is poised to weaken further as the escalating trade war between the world’s two largest economies weighs down growth in the export-dependent city-state. Poor export data that landed Friday underscore the downward pressure on the currency’s nominal effective exchange rate, which has quietly crept away from the upper end of the band […]

PBOC Warns on Trade, Pledges Targeted Stimulus and Steady Yuan

The People’s Bank of China warned that the escalating trade war could destabilize the global economy, and vowed to continue with targeted stimulus at home while keeping the currency steady. “Trade friction and uncertainties in global policy could impact the global economy negatively” by driving up inflation, damaging household and corporate confidence and causing financial […]

Australian dlr jumps after election surprise, yen edges lower

The Australian dollar rallied against the greenback on Monday after a surprise election victory by the country’s conservative government, while the yen eased as risk appetite improved slightly. The dollar index against a basket of currencies was a shade higher at 98.024, having booked its biggest weekly rise since early March last week. The Aussie […]

Zimbabwe to Supply Interbank Forex Market With $500 Million

Zimbabwe will supply the interbank foreign exchange market with $500 million on Monday as its tries to resuscitate a currency trading system implemented in February that’s been plagued by a lack of liquidity. In February the central bank created the interbank market and said its quasi-currency, known as RTGS, would no longer be pegged to […]

Dollar Mixed Ahead of Growth Data

In early Friday trade in Asia, the US Dollar Index remained close to a 2-year peak as FX traders await today’s release of growth data from the US. Currently, economists are predicting that 1st quarter results will show a fall to 2.1% (year-over-year) from 2.2% in the previous period. Core personal consumption is also expected […]

UK Lawmakers Get Down to Business

The British opposition leader, Jeremy Corbyn is traveling to Brussels this Thursday in order to discuss an alternative Brexit plan with European Union representatives. “In meetings with the EU’s chief Brexit negotiator Michel Barnier, Martin Selmayr, the secretary general of the EU Commission, two EU commissioners and seven EU Prime Ministers, Corbyn will express his […]

USD/JPY Higher after BOJ

The Bank of Japan, as had been predicted in the latest poll, maintained interest rates at the current -0.1%. Governor Haruhiko Kuroda had said in the past that any modifications to the central bank’s quantitative easing policy would depend largely on whether the Yen appreciates to a degree which would warrant additional easing measures. In […]