- China's deflationary CPI data sends yuan to 3-week low
- FOMC preview and look ahead - no rate cut in March 2024
- Pensions giant invests US $20m into a UK crypto derivatives trading platform
- Bank of America cautions investors on overly optimistic rate cut predictions
- European Central Bank's McCaul speaking on Greece on Monday
- More on Ueda remark taken out of context by the market, the report shifted USD/JPY
- Federal Open Market Committee (FOMC) preview and outlook further ahead
- Bearish Reversal Pattern Detected on NASDAQ 100 E-mini Futures Hourly Chart
- A US fighter jet F-16 has crashed into into the Yellow Sea off the Korean Peninsula
- PBOC sets USD/ CNY mid-point today at 7.1163 (vs. estimate at 7.1690)
- USD/JPY forecast: Analysts predict drop to 143.00 - say that spot is overvalued
- JP Morgan analyst Marko Kolanovic has a poor risk:return for US stocks next year
- UK manufacturing sector shows green shoots as restocking and export orders rise
- Bank of England to cut rates faster than expected, says Goldman Sachs
- Reserve Bank of Australia Governor Bullock speaks Tuesday, AssistantGov Jones on Wednesday
- China's crude imports fell to a four-month low in November; decline in domestic demand
- ECB rate cuts expected in 2024, beginning March, as euro area inflation declines rapidly
- USD/JPY: Solid jobs report, reduced expectations of Fed cut, BOJ pivot, underpinning pair
- Fire triggers explosions at Eastern Iran's Birjand Refinery
- Deflation pressures in China showed up starkly in the inflation data over the weekend
- Trade ideas thread - Monday, 11 December, insightful charts, technical analysis, ideas
- Monday morning open levels - indicative forex prices - 11 December 2023
- Timiraos: Fed unlikley to talk about rate cuts and perhaps may not for several months
- Weekend news: China CPI -0.5% y/y vs -0.1% expected
- Weekly Market Outlook (11-15 December)
- Week ahead highlights include: FOMC, ECB, BoE, SNB; US CPI, China activity data
- S&P index is a new 52 week high. NASDAQ closes at its highest level this year
- Forexlive Americas FX news wrap: A surprise fall in the US unemployment rate lifts dollar
USD/JPY continued it gains from Friday here in Asia Monday trade. The strong payrolls report from the US on Friday chipped away at Federal Open Market Committee (FOMC) easing expectations, helping to support the USD. The report from Friday that Bank of Japan Governor Ueda’s comments that sent the yen soaring on Thursday were misconstrued cut some of the support from JPY.
Across the FX board more widely saw a weaker AUD, NNZd, CAD and GBP. EUR/USD is not a lot net changed.
The yuan dropped further. Over the weekend was the release of China’s November inflation data showing a shockingly sharp drop into CPI deflation and a deepening of PPI deflation. The rekindled concern over the health of the Chinese economy. The regular reaction to this is the hope of more stimulus but this didn’t support China trades today. There is more on this in the points above.
Crypto markets were smashed lower, and have since bounced back, not all the way though. BTC/USD dropped from around US$42,500 or so to under $40,750 in only minutes and then to $$42,500 in the hour or so following.
Offshore yuan update:
