- RBNZ unlikely to hike its cash rate this year, and 'forget about easings' too
- China's battery and car makers are teaming up to commercialize all solid-state batteries
- JP Morgan looks for outperformance of equities in Japan and the UK
- US dollar higher in Asia, NZD and yen are notable losers
- New Zealand inflation expectations Q1 2024: 2 year at 2.5% (2.76% prior)
- US military reported that Houthi militants launched two missiles from Yemen
- JP Morgan says China is not un-investable
- Franklin Templeton is the latest company to file for a spot ether ETF
- US CPI data release: will declines be enough to reassure the Fed?
- Australian January Business Confidence -1 (prior 0)
- US CPI data due Tuesday: here are the ranges of estimates (and why its crucial to know)
- Nomura bearish USD/JPY, expects potential BOJ policy shifts, verbal interventions
- Japan PPI January 0.0% m/m (expected +0.1%)
- Australian monthly consumer confidence +6.2% m/m (prior -1.3%)
- Federal Reserve 'insider' on what to expect for the US CPI data due Tuesday
- Uh-oh. Goldman Sachs says the "equity options market is pricing almost no panic"
- Australian consumer confidence comes in at 82.6 vs previous week's 84.8
- EU proposes new trade restrictions on some Chinese firms for aiding Russia's war
- Asian market holidays today update - who's in and who's out
- RBA Kohler: Australian inflation is coming down but its still too high
- Forexlive Americas FX news wrap: A winding path to nowhere
- More on UBS call for a higher 'Goldilocks market' S&P 500 - on track to 5300
- US stocks close mixed as the market pivots... a little
- Trade ideas thread - Tuesday, 13 February, insightful charts, technical analysis, ideas
The kiwi $ was a notable loser against the USD on the session, but it wasn’t the only one.
The USD added points against EUR, GBP, AUD, CAD, CHF and also JPY. As I update USD/JPY is sitting just over 149.50 and looks set to have a sniff at 150. We’ll see.
From Japan today we had PPI data, the m/m was reported a little lower than expected. Its not usual for the PPI to have too much of a yen impact on the session.
Of more note for the US dollar today was the report out of the Red Sea that a Houthi terrorist missile had damaged a commercial vessel carrying corn to Iran. Minor damage was reported. While attacks of this sort are commonplace now, hits are not and it seems the USD attracted a few bids in the wake of the news crossing.
As mentioned, NZD was a notable loser. We had news on inflation expectations from the Reserve Bank of New Zealand survey. Businesses see lower future inflation and wage growth. Q1 2024 inflation expectations fell to more than two-year lows. This has pared back thoughts, and pricing, for a February RBNZ rate hike.
While on central banks, we had a speech from the Reserve Bank of Australia's Head of Economic Analysis, Marion Kohler, that didn’t add to what we have pretty much already heard recently from officials at the Bank. Kohler said that while inflation is coming down it remains too high.
