- GDP & Durable goods orders expected from the US Thursday, 25 January 2024 - ranges to watch
- Deutsche Bank sees a potential 10% fall for the US stock market
- PBOC releases 6 measures to support Hong Kong's role as a financial hub
- Japan's Kanda says important for forex rates to move stably reflecting fundamentals
- Westpac on Australian tax cuts impact on RBA policy - "already factored into the outlook"
- China mainland and Hong Kong equites higher in opening trade
- Australian PM Albanese says tax cuts have no implications for RBA inflation forecasts
- European Central Bank expected to leave monetary policy on hold at today's meeting
- Chinese financial media says PBoC may cut the MLF rate this quarter
- PBOC sets USD/ CNY central rate at 7.1044 (vs. estimate at 7.1620)
- RBA Bulletin - price growth to remain above inflation target range of 2–3 per cent
- JP Morgan remains positive on the Australian dollar: cite RBA, tax cuts
- Federal Reserve has ramped up its interest rate on emergency loans
- Singapore central bank to hold off on easing as inflation persists
- South Korea Q4 GDP +0.6% q/q (vs. +0.5% expected) and +2.2% y/y (expected +2.1%)
- HSBC 3 reasons to like the USD at the expense of EUR, GBP, AUD. Lower AUD range forecast.
- ICYMI - PBOC to cut reserve requirement ratio by 50bp from 5 February
- Forexlive Americas FX news wrap 24 Jan. Bank of Canada tilts toward easier policy.
- The ECB has asked some banks to monitor social media for early signs of bank runs
- Trade ideas thread - Thursday, 25 January, insightful charts, technical analysis, ideas
It was a session of reasonably small major FX ranges with traders content to wait for the ECB and then US data due later.
We did have news from the Federal Reserve. The Bank announced an increase in the interest rate payable on the emergency lending program, the Bank Term Funding Program. After some regional US banks failed in March 2023 the BTFP eased liqudity issues. In recent weeks borrowing at low rates via the program had surged, frustrating the Fed's balance sheet reduction objectives. Much of the borrowing was for arbitrage activity. The facility will expire as planned on March 11.
Chinese mainland and Hong Kong stocks rose following yesterday’s RRR cut from the PBoC.
Shanghai Composite hourly
