- Bitcoin hourly chart looks vulnerable
- The day is near when the Japanese government will present it nominees for BOJ leadership
- More from JPMorgan CEO Dimon warning Fed rate could head above 5%, and stay there
- More on Chinese state media, AI companies warn of risks in ChatGPT stock frenzy
- JP Morgan says Artificial Intelligence could prove VERY deflationary (remains to be seen)
- Passenger car sales in China collapsed 38% y/y in January
- Australia's 4 largest banks have all passed through the RBA rate hike
- PBOC sets USD/ CNY reference rate for today at 6.7905 (vs. estimate at 6.7900)
- Chinese media warns not to blindly participate in ChatGPT-related stock speculation
- ICYMI - US used vehicle prices jumped again in January, up 2.5% m/m
- UK data - RICS house price indicator falls to its lowest since 2009
- US-bound container shipments from Asia plunge
- US President Biden says there will no US recession in 2023 or 2024
- Germany's delayed January inflation data will be published today - ballooning higher
- US President Biden says relations with China have not taken a big hit
- Morgan Stanley with 3 reasons the S&P500 bear market is not over
- JP Morgan CEO Dimon says the Federal Reserve hiking to 5% and holding there is sound
- US Treas Sec Yellen says she still hopes to visit China but has no current plans
- Goldman Sachs have 3 reasons for yen weakness in the coming weeks
- Trade ideas thread - Thursday, 9 February 2023
- US stocks give back some of the gains from yesterday
- Forexlive Americas FX news wrap: US dollar climbs as risk appetite slumps
EUR, AUD, GBP, CAD and NZD all traded a little stronger against the USD during the session. News flow was very light, as was data. On Wednesday New Zealand announced a boost to the minimum wage which should help household consumption but also increases the prospect of further Reserve Bank of New Zealand rate hikes given inflation in NZ is still high.
USD/JPY popped in early Asia but has since come back to be barely changed on the session.
The People's Bank of China injected funds via Open Market Operations again today. Despite this rates remained on the high side in China, near two year highs. Credit demand appears solid, which could well be indicating a better than expected pace of post-COVID economic recovery. Loan and aggregate financing data are expected sometime between now an February 15.
BTC/USD has lost ground (see bullet above for rumour).
Asian equity markets:
Japan’s Nikkei 225 -0.36%
China’s Shanghai Composite +0.6%
Hong Kong’s Hang Seng +0.3%
South Korea’s KOSPI -0.17%
Australia’s S&P/ASX 200 -0.6%
