- Goldman Sachs says a Trump 2024 election win will likely boost bond yields and US dollar
- Warning from Wells Fargo: Stocks at record highs based on false hope
- Chinese authorities have 'asked' funds to restrict short selling stock index futures
- Societe Generale forecasts USD/JPY under 140 in Q2 of 2024
- Former St Louis Fed President Bullard says Fed cuts could come as soon as March
- RBNZ's own Q4 CPI indicator 4.5% y/y (prior 5.2%) - this is its Sectoral Factor Model
- North Korea fires multiple cruise missiles into Yellow Sea
- Citi has a 4,800 target for the S&P 500 at mid-year, then to 5,100 by year end
- PBOC sets USD/ CNY mid-point today at 7.1053 (vs. estimate at 7.1825)
- US politics - Trump won NH primary, is now assured the Republican nomination
- Japan - Keidanren business lobby head says aiming for wage hikes to outpace inflation
- Japan Jibun preliminary manufacturing PMI for December 48.0 (prior 47.9)
- New Zealand Q4 CPI inflation data shows high domestic inflation, RBNZ likely look through
- Australia Westpac Leading Indicator, looks to be stabilisation rather than a cycle upturn
- Japan data - December exports +9.8% y/y (expected +9.1%)
- Deutsche Bank survey shows a third of respondents expect Bitcoin under $20,000 by end 2024
- UBS predicts rise in EUR/CHF and also say that USD buying looks stretched
- Swiss National Bank President Jordan spoke Tuesday on the CHF, inflation and the economy
- Australia January preliminary PMIs: Manufacturing 50.3 (prior 47.6) Services 47.9 (47.1)
- NZD/USD is jumping after a huge 5.9% non tradable inflation number in the Q4 data
- New Zealand Q4 CPI 0.5% q/q (expected 0.5%) and 4.7% y/y (expected 4.7%)
- Oil - private survey of inventory shows much larger headline draw than was expected
- US military has struck Iran-backed militants in western Iraq
- Forexlive Americas FX news wrap: US dollar flexes its muscles
- Trade ideas thread - Wednesday, 24 January, insightful charts, technical analysis, ideas
Inflation data from New Zealand, for Q4 of 2023, kicked off the session here. The headline results showed inflation falling as per consensus expectations and faster than the Reserve Bank of New Zealand had forecast in its most recent Monetary Policy Statement (MPS) (in November 2023). However, the data also showed that non-tradable inflation is still running hot, above forecasts from both the market and the RBNZ. (In summary, tradable inflation is primarily driven by international factors and market conditions, whereas non-tradable inflation is driven by domestic economic conditions and policies.) NZD/USD jumped higher and as I post is still above pre-data levels.
USD/JPY is down on the session. The yield on Japan's 10-year Japanese Government Bond is up 10bps (20yr +12) as rate-hike expectations are revised up. Again. Data from Japan showed much-improved exports in December.
Other major FX is mixed. EUR/ and GBP/USD are higher while AUD and CAD have seen a little pressure.
The focus for regional equities is still China. Reuters carried a report citing two unnamed sources conveying information that Chinese authorities 'asked' funds to restrict short selling stock index futures.
