- Japan Tertiary Industry Activity Index (November) -0.7% m/m (prior -0.8%)
- The IMF recommends the Reserve Bank of Australia raise interest rates even higher
- The PBoC rate setting is coming up on Monday - will likely remain on hold
- Barr and Daly from the Federal Reserve speak on Friday
- European Central Bank President Lagarde speaks on "the Global Outlook" on Friday
- China's largest brokerage has placed restrictions on short sales
- Japan finance minister Suzuki says watching FX moves 'carefully'
- China's headwinds: Property sector debt implosion and traditional autos decline
- JP Morgan says there is plenty more downside for Bitcoin - more 'sell the fact' to come
- PBOC sets USD/ CNY reference rate for today at 7.1167 (vs. estimate at 7.1972)
- Third Houthi terrorist attack on commercial shipping vessel in three days
- China's state banks sold USD for yuan, trying to prop up CNY
- Japan's 3 December inflation measures all fell vs. November, but all are still above 2%
- NY Fed report on rising early delinquencies in auto and credit card debt
- China shares: fears mounting of another crackdown slump - "We've seen this picture before"
- JP Morgan forecasts Bank of England to cut rates in August 2024
- RBC's bull case forecast for 2024 year end S&P 500 is 5300
- New Zealand data - December manufacturing PMI plunges to 43.1, from 46.5
- Swiss National Bank President Jordan spoke at Davos, emphasized the role of central banks
- Forexlive Americas FX news wrap: Jobless claims offer ammunition for the hawks
- Broader US indices snap 2-day slide. NASDAQ leads the way.
- Trade ideas thread - Friday, 19 January, insightful charts, technical analysis, ideas
USD/JPY and yen crosses traded higher today. We had December inflation data from Japan with all three of the major indicators dribbling a little lower from November but all remaining above the Bank of Japan’s 2% inflation target.
USD/JPY topped out just shy of 148.50. Japan’s finance minister dropped a few comments into the mix. These were fairly mild verbal intervention comments but they impacted by sending USD/JPY back down towards 148.20. As I post its stabilised somewhat around 148.30.
The US dollar lost some ground more widely. Ranges were not large but EUR, AUD, GBP added points. USD/CAD is little changed while NZD/USD traded higher but has given it all back. The kiwi $ is lower on the week.
Chinese stock markets showed a little stability today after the recent renewed rout. The country's largest stockbroker has placed restrictions on short sales after ‘guidance’ from authorities.
