- New Zealand will loosen visa rules to allow holiday makers to work remotely while visiting
- European Central Bank President Lagarde is speaking on Monday
- DeepSeek AI - ‘amazing and impressive’ despite working with less-advanced chips
- White House says Colombia has agreed to accept illegal migrants returned from the US
- Recap - China's Manufacturing Sector Contracts in January, Economic Outlook Uncertain
- China invites local and international media to cover its annual parliament
- Trump aides want to hit Canada, Mexico with tariffs as soon as February 1 - before talks
- NVDA stock, NQ futures have both slipped on a steaming pile of DeepSeek
- China December 2024 Industrial Profits +11% y/y
- China official PMI data for January 2025: Manufacturing 49.1 (expected 50.1)
- China's CSRC approves $7.25B stock investment pilot programs for insurers & asset managers
- PBOC sets USD/ CNY reference rate for today at 7.1698 (vs. estimate at 7.2295)
- MUFG warned about Trump imposing tariffs on Friday - "dollar higher for longer."
- RBC sees next Bank of Japan rate hike in July 2025
- A majority of UK businesses plan to cut pay increases
- Macau mutual fund will soon be offered to mainland China investors
- Trump is making an example of Colombia - unnamed White House source
- USD up, equity indexes down as Trump kicks off trade war with tariffs
- Economic calendar in Asia - Monday, January 27, 2025 - China PMIs for January
- Colombian president orders increase of import tariffs on US goods
- On Sunday China announced new measures to boost equity index investment products
- Trade ideas thread - Monday, 27 January, insightful charts, technical analysis, ideas
- AUD traders heads up - it's a market holiday in Australia today
- UK's fin min Reeves to release corporate pension funds to help investment fuel growth
- Trump slams Colombia with tariffs after it turns back migrant deportation planes
- Monday morning open levels - indicative forex prices - 27 January 2025
- Newsquawk Week Ahead: FOMC, ECB, BoC, US PCE, EZ GDP, Tokyo and Australian CPI
- Tesla Stock Price Prediction 🐻
- Will Chinese DeepSeek Disrupt NVIDIA?
- Weekly Market Outlook (27-31 January)
- What are the technicals driving the major US currency pairs heading into the new week
- Trump Pump & Dump
- Did the US Secretary of State just cutoff aid to Ukraine?
- Forexlive Americas FX news wrap 24 Jan: The USD moves lower after weaker data.
The bad news twins for non-USD FX and US equities over the weekend were
- Trump slamming Colombia with tariffs, and Colombia responding tit-for-tat
- NVDA (and NASDAQ) was slammed by Chinese AI developments in Deep Seek
Trump sent a military plane of shackled deportees to Colombia. Colombia turned the plane back to the US, arguing that migrants should be treated with dignity and respect. The President of Colombia offered to accept deported Colombians on civilian flights. Trump responded by slamming tariffs and other sanctions on Colombia. Colombia then responded in kind, with equivalent sanctions on US products.
The USD opened higher in early trade in Asia and has continued to ratchet up.
Globex opened US equity indexes lower. In addition to the nascent trade war NASDAQ (NQ futures) was hit by Chinese AI DeepSeek developments that will likely weigh on the NVDA share price
- the project took only $6 million to train
- its open source
- it performs on par with leading AI models
- seems to have navigated U.S. semiconductor restrictions on China
- uses fewer chips, and not necessarily Nvidia’s
Of course all of this is good news if you were positioned on the correct side.
There was also news from an unnamed source saying Trump's advisers want tariffs on Canada and Mexico as soon as Saturday, February 1, before talks begin.
Later in the session we had the news that the US will not levy threatened tariffs on Colombia after the South American nation agreed to take illegal migrants back. The USD retraced some of its gains on this reversal of the news. Trade war over, for now.
In the midst of all this we had poor data from China. Official PMIs from the country’s National Bureau of Statistics (NBS) showed manufacturing falling back into contraction, dropping to 49.1 from 50.1 in December. The non-manufacturing sector also showed signs of slowing, with its PMI falling to 50.2 from 52.2 in December, reflecting weaker momentum in services and construction.
