- RBC anticipates a modestly weaker non-farm payroll report
- Barclays analysts predict single-digit returns for US equities in 2024
- Oxford Economics predicts push back on rate cut expectations in the upcoming FOMC meeting
- US non-farm payrolls data - the key ranges for estimates to watch
- China November inflation data will be released over the weekend (CPI and PPI)
- RBA: budget pressures affecting households Australia-wide, severe financial stress limited
- Is the ECB going to signal an early 2024 rate cut? Markets prepare for December meeting
- Japan's 10-year government bond yield has reached a three-week high,
- PBOC sets USD/ CNY reference rate for today at 7.1123 (vs. estimate at 7.1427)
- Russian Central Bank Governor Nabiullina says is opposed to Putin's manipulation of rouble
- USD/JPY hit hard after the terrible GDP figures, back under 143.50
- Japan Q3 GDP -0.7% q/q (preliminary was -0.5%, prior +1.2%)
- Japan finance minister Suzuki says closely watching FX moves
- Goldman Sachs forecasts first rate cut from European Central Bank (ECB) in April 2024,
- Japan data: Oct Wages +1.5% y/y (prior +1.2%), Household spending -2.5% y/y (expected -3%)
- US Treas Sec Yellen satisfactied with the strong performance Fed and the US economy
- Bank of England has urgently requested details on private credit exposure
- Analyst predicts that the BOJ will end to negative interest rates by March 2024
- It's the most wonderful time of the year, US equity index futures rollover date
- Australia's Treasurer has a new monetary policy statement with Reserve Bank of Australia
- Massive drop in USD/JPY and yen crosses. Technical analysis suggests gap fill ahead.
- New Zealand Q3 data: Manufacturing sales volumes -2.7% q/q (prior +2.9%)
- Forexlive Americas FX news wrap: USD/JPY gaps lower after break of 144.00
- Trade ideas thread - Friday, 8 December, insightful charts, technical analysis, ideas
- Major US indices close higher. Nasdaq index soars by 1.37%
After the enormous swings for USD/JPY on Thursday it continued to move during the timezone here but not in such a huge range. We didn’t hear anything from Bank of Japan officials today. Japan finance minister Suzuki did have a few saccharine remarks about how he is ‘closely watching’ moves. USD/JPY began the session with highs to around 144.20 before crashing to 142.50 and then rebounding to 144.10. I hope Suzuki didn’t get whiplash. JGBs, too, were pummelled, the 10-year yield rose back to a 3 week high.
In Japan economic data today we had disappointing Q3 GDP data. The advance read on this was a contraction of 0.5% but that slid further to -0.7% in the final release. For the y/y annualised it came in at -2.9%. Monetary policy tightening with GDP at such a deeply contracting pace? I wonder.
Major FX rates were otherwise relatively subdued. AUD/USD is back above 0.6610.
And, ICYMI, China is releasing November inflation data over the weekend, see bullets above for more on this.
