- US politics - Taylor Swift says she will be voting for Harris
- US Vice President Harris' campaign is pushing for a second debate with Trump
- Bank of Japan Nakagawa says ready to raise rates if inflation on track - recap
- Half way through the debate and US Treasuries are rallying. EUR higher also
- USD/JPY has dropped under 142.00 on BOJ Nakagawa comments
- BOJ's Nakagawa speaks on one-sided yen falls
- RBA Assistant Governor Hunter Q&A - more
- PBOC sets USD/ CNY mid-rate at 7.1182 (vs. estimate at 7.1198)
- Presidential Debate begins: Harris and Trump in Philadelphia
- RBA's Hunter speaking in Q&A now - turning point ahead for Australian economy
- Honda to reduce staff at China plants. And suspend production at 3 China plants for 2 week
- RBA's Hunter says the Australian labour market is still tight relative to full employment
- China deflation showing signs of worsening spiral, calls for for immediate policy action
- ICYMI - Saudi Aramco cut its Arab Light crude oil price to Asia, Europe and the US
- Japan - Reuters Tankan report for September: Manufacturing sentiment hits a 7 month low
- Here's what 14 investment bank analysts are forecasting for US CPI headline and core rates
- ICYMI - OPEC has cut its forecasts for global oil demand ... again
- Fitch says the coming Federal Reserve easing cycle will be mild and slow
- MUFG expect a higher US dollar if CPI shows an unexpected rise
- Goldman Sachs says US stock market may decline by year-end, but no bear market
- ICYMI - Bank of Japan officials see little need to raise the benchmark rate at Sep meeting
- Oil - private survey of inventory shows a headline crude oil draw vs. build expected
- Forexlive Americas FX news wrap: Oil settles at the lowest since 2021
- US stocks close mixed on the day. Broader indices higher led by the Nasdaq index.
- Trade ideas thread - Wednesday, 11 September, insightful charts, technical analysis, ideas
Bank of Japan policy board member Junko Nakagawa spoke during the session here today (coinciding with the Harris-Trump debate … more on that, briefly, to come). Nakagawa repeated what we have heard from Governor Ueda and other Bank officials that the degree of monetary accommodation will be adjusted, depending on price, economic and financial conditions:
- real interest rates remain deeply negative, accommodative monetary conditions maintained
- BOJ likely to adjust degree of monetary easing if economy, prices move in line with its projection
Following her comments, USD/JPY briefly dropped to around 141.50 and an eight month high for JPY. After a rebound towards 142.00 USD/JPY has slid again, and as I post its testing to new lows under 141.50.
Speaking of central banks, we also had a speech and added comments from Sarah Hunter, Assistant Governor (Economic) at the Reserve Bank of Australia. Hunter dropped no hints of any imminent RBA rate cut.
The Harris vs. Trump debate was a key political focus. These debates rarely shed much light on policy positions, and this was little different. There was some discussion of economic policy, but it was light on and didn’t add to what we already know. Other issues dominated. US yields dribbled lower and EUR/USD higher, indicating that Harris was likely perceived by markets as the ‘winner’. Betting markets seemed to come down narrowly on Harris’ side also, this screenshot via Bloomberg on ‘PredictIt’ odds:
As for celebrity endorsements, Taylor Swift posted on IG after the debate that she would be voting for Harris. I don’t think was much of a surprise.
