- ANZ looking for a first RBA rate hike in September 2022
- Oil market - Citi sees a flip into surplus in Q2 2022
- US jobs report due Friday - an upside surprise would give the Fed reason to move quicker
- Bank of England Deputy Governor Broadbent and Chief Economist Pill are speaking on Friday
- BOJ Gov Kuroda says Japanese consumer inflation is weaker than that in the US and Europe
- RBNZ Gov Orr speech "does not contain information likely to influence financial markets"
- ICYMI - The Japanese government is looking at diverting some supplies of gas to Europe
- RBA SoMP repeats 'prepared to be patient'
- US is imposing visa restrictions on multiple Belarusian nationals
- Japan finance minister Suzuki says the country's fiscal position is severe
- Biden to boost project labor agreements for federal construction projects
- US equity index futures jump on Globex
- BoE, ECB ... Where to for GBP/USD and GBP/EUR now
- Trade ideas thread - Friday 04 February 2022
- New Zealand - Building consents/permits for December 2021 +0.6% m/m ( prior +0.6% also)
- Head of the IMF says its too early to say world is facing an era of sustained inflation
Its US jobs report Friday, previews:
- US jobs report due Friday - Goldman Sachs preview the Nonfarm Payroll for January
- Another warning about downside risk to Friday's NFP report
China was once again out on holiday today. Combined with the wait for the upcoming US January jobs report (nonfarm payroll, previews in the bullets above) much of major FX traded in small ranges.
EUR/USD was a bit of an exception. After the ECB and President Lagarde’s less dovish remarks the euro rose on Thursday (Europe/US time). That rise extended just a little here in Asia as markets reassess how much policy divergence there is likely to be ahead between the US and Eurozone. EUR/USD ticked around 30 points higher during the session.
Cable, too found a few bids during Asia, its up around 20 points off its early in the session low.
The RBA, Australia’s central bank, released its February Statement on Monetary Policy. The SoMP is published four times a year. In today’s publication the Bank upgraded its inflation and employment outlook for the quarters ahead, while still expecting only a slow build ahead for wage pressures. The Bank reiterated its patient view on policy adjustment ahead. AUD/USD is little changed on the session.
Equities benefited from a strong report from Amazon after regular (US) trading hours and a subsequent circa 15%+ jump for the shares.
New RBA forecasts (in summary):
