- The European Central Bank meet this week - preview of a 25bp rate hike
- Japanese Finance Minister Suzuki declined to comment on remarks by BOJ Governor Ueda
- China Property Developer giant Country Garden wins approval to extend bond payments
- UBS on Ueda and PBOC warning: Verbal intervention in FX needs fundamentals to back it up
- Japan's 20-year bond yield has hit its highest since May 2014
- Australian August Business confidence 2 (was 1 in July) & Conditions 13 (11 in July)
- PBOC sets USD/ CNY central rate at 7.1986 (vs. estimate at 7.2859)
- BoJ offers to buy an unlimited amount of JGBs: fixed rate, residual maturities 5yr-10yr
- New Zealand Treasury forecasts unemployment lower than earlier estimated, GDP growth ahead
- Australian monthly consumer confidence for September falls 1.5% m/m to 79.7
- Former IMF official rings alarm bell on US dollar - US needs to "get its act together"
- US wage rises continue - California fast food workers to get a $20 minimum wage
- Australia data - ANZ Roy Morgan weekly consumer confidence 77.6 (prior 78.7)
- BOJ policy adjustment could come earlier than expected
- US bank economists see a slower US economy, no recession, & 100bp of Fed cuts from May '24
- New Zealand retail sales indicator for August +0.7% m/m (prior 0.0%)
- Deutsche Bank have flipped their BOJ forecasts after Ueda's negative rates comments
- Morgan Stanley say its lonely being bullish US Treasuries, advise to buy the dips
- ICYMI - The PBoC warned traders to be wary of short yuan speculation
- Goldman Sachs says to shrug off higher yields, may not hold back tech stock rally
- Forexlive Americas FX news wrap: US inflation expectations tick higher
- ICYMI - CEO of Barclays says near the end of the FOMC hiking cycle
- US equity close: Nasdaq powers higher
- Trade ideas thread - Tuesday, 12 September 2023
News and data flow were light during the session and major FX traded within narrow ranges.
On the data front we had two consumer confidence surveys from Australia, both of which were deeply pessimistic. On the other hand the results of the most recent National Australia Bank Business Survey which showed business confidence and business conditions both improved.
From China was news that giant property developer Country Garden had won approval to extend six onshore bond repayments. China stock markets are up on the day, as is AUD (a China-proxy trade). All moves are very small.
Asian equity markets:
Japan’s Nikkei 225 +0.6%
China’s Shanghai Composite +0.01%
Hong Kong’s Hang Seng +0.04%
South Korea’s KOSPI -0.5%
Australia’s S&P/ASX 200 -0.04%
Bitcoin popped back toward USD26K:
