- Canada's government is to propose a tax on corporate stock buybacks
- FOMC response - dovish statement, hawkish press conference
- China - EV maker NIO says productions has restarted at its two COVID-hit plants in Hefei
- China state-guaranteed bonds to prop up property developers. 200bn yuan in 2nd round.
- China October Services PMI 48.4 (prior 49.3)
- Canada orders three Chinese firms to divest investments in critical minerals firms
- Chinese authorities further restricting access to information
- PBOC sets USD/ CNY mid-point today at 7.2472 (vs. estimate at 7.2523)
- China new coronavirus cases continue to rise
- Bank of England preview - meeting Thursday, 3 November 2022
- Australia data, Sept: Exports +7% m/m (prior +2.6%) & Imports +0% m/m (prior +4.5%)
- PBOC is expected to set the USD/CNY reference rate at 7.2523 – Reuters estimate
- New Zealand ANZ Commodity Price Index -3.4% m/m (prior -0.6%)
- HK's central bank' raises its base rate by 75bp (follows the Fed)
- AUD traders heads up - RBA speaker due at 0500 GMT
- North Korea has fired another ballistic missile towards East Sea (AKA Sea of Japan)
- UK PM Sunak to extend 'windfall taxes' on oil & gas firms for 5 years: raising 40bn GBP
- Australian services and composite PMIs for October drop into contraction
- Japan business lobby urges member firms to increase pay
- Analysts raises forecast for China GDP in 2022, cuts 2023. Forecasts higher USD/CNY.
- Gasoline supplies on the US East Coast fell to an eight-year low
- ICYMI - Russia agrees to rejoin Ukraine grain deal
- More from RBNZ Gov Orr: Bank has laser-like focus on returning inflation to 1-3% target
- Forexlive Americas FX news wrap: Fed/Powell throw the market a curveball.
- Fed 'whisperer' / insider on the 3 takeaways from Powell's press conference
- Trade ideas thread - Thursday, 3 November 2022
- RBNZ Governor Orr - New Zealand banks are among the most resilient in the world
- US stock markets battered as Powell signals a higher terminal top
- Laps being completed - and then some - in the major pairs
Major FX ranges were more limited than they were during a volatile post-FOMC US session.
Japan was out for a public holiday here today, which meant no cash trade in USTs.
The USD net gained after Federal Reserve Chair Powell’s press conference. There was minor follow through to this early in the session here and then a minor retrace. As mentioned, ranges were not large. USD/JPY is a bit of an exception. It tested towards 148.00 and dropped around 80 points.
Regional equities slid.
Data points of note were a rebound for Australian exports (September month data) and further contraction for the Chinese services PMI (Caixin).
Speaking of China, coronavirus cases mounted again. Canada’s government ordered three Chinese firms to divest from small lithium miners.
In geopolitical news North Korea launched another three missiles eastward again today.
