- US non-farm payrolls data - the critical key ranges for estimates to watch
- JP Morgan favour gold and Bitcoin - the "debasement" trade
- Heads up for ECB speakers on Friday - Buch, Escriva, Centeno, de Guindos
- Standard Chartered says Bitcoin not a safe haven against geopolitical risk - gold is
- Bank of England Chief Economist Huw Pill to speak on "What’s next for the UK economy?"
- FX option expiries for 4 October 10am New York cut
- Japan economy minister Akazawa says aims to overcome deflation under Ishiba's leadership
- Australian housing finance data, August 2024: Home loans +0.7% m/m (prior +2.9%)
- Japan finance minister Kato wants to boost support for low-income households
- Goldman Sachs preview US nonfarm payroll data Friday, October 4: +165K /jobless rate 4.2%
- Japan chief cabinet secretary Hayashi - PM Ishiba wants a comprehensive economic package
- JP Morgan say a 2nd Trump Presidency would be "more interesting" for Fed independence
- More on the end of the US dock strike - over for now anyway
- UK vehicle traders and manufacturers want strong fiscal incentives from government
- AUD/USD forecast to 0.71 this quarter - China stimulus, RBA rates among reasons for bid
- US dock workers agree to return to work - postpone strike action
- U.S. port employers are preparing almost 62% pay increase offer to striking dockworkers
- Reserve Bank of New Zealand rate cut next week, 97% chance of a 50 basis points
- Consensus for an October European Central Bank rate cut basically locked in
- Bitcoin price little changed on news of Satoshi Nakamoto name reveal
- Bitcoin creator Satoshi Nakamoto has been identified - will be revealed in a TV show!
- US major stock indices move lower ahead of the US jobs report
- Trade ideas thread - Friday, 4 October, insightful charts, technical analysis, ideas
From Japan today we had a barrage of headline comments cross from
- Japan finance minister Kato,
- Japan chief cabinet secretary Hayashi,
- and Japan economy minister Akazawa.
These were related to new Japanese Prime Minister Ishiba ordering the preparation of a supplementary budget, i.e. more fiscal stimulus efforts. Akazawa helpfully chimed in with a comment that the timing of BOJ monetary policy change is important, it must align with Japan's broader goal of exiting deflation. A reminder to the Bank of Japan of government endorsing loose policy!
USD/JPY has net drifted a little lower on the session, seemingly more influenced by the prospect of a supplementary budget than Akazawa berating the Bank of Japan.
Hong Kong equities rallied. As a reminder, mainland China is on holiday and returns on Tuesday next week.
In other news, Bitcoin creator Satoshi Nakamoto will have his real identity revealed next week. Or so promotions for the TV show tell us (see bullets above).
The US East Coast / Gulf dock strike is over for now, a tentative deal has been reached with workers returning to the job until January 15 (see bullets above).
Major FX was subdued for the session as traders await the US NFP data Friday at 8.30 am US Eastern time. New York Federal Reserve President Williams will speak a half hour later.
