- China intends to renew a ban on Japanese seafood imports
- AUD, kiwi, CAD all losing ground against the USD
- Tesla received a ride-hailing permit from Arizona, opening the door to begin robotaxi
- BOJ may delay rate hike until March as advisers urge caution on weak economy
- ICYMI: BoE sets out plans for regulated sterling stablecoins with temporary holding limits
- Army Secretary Driscoll and chief of staff Gen. George visit Ukraine - unannounced trip
- More on the BoJ Gov Ueda, fin min Katayama, eco min Kiuchi meeting soon
- Japan's new economic stimulus package to exceed 20 tln yen - Kyodo reporting
- Bessent says Trump's $2000 checks to Americans won't be inflationary ... don't spend it
- Bank of Japan Governor Ueda, fin min Katayama, eco min Kiuchi to meet today
- Yen divides outlook: BoA survey sees 2026 rebound, MUFG warns of deeper near-term weakness
- Axios says the U.S. is secretly drafting new plan to end Ukraine war
- PBOC sets USD/ CNY central rate at 7.0872 (vs. estimate at 7.1121)
- Goldman Sachs sees oil sliding through 2026 on supply glut before recovering in 2027
- AUD is barely moved after the in line wages data from Australia
- Australia data - Wage Price Index for Q3 2025: 0.8% q/q (expected 0.8%)
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- Coming up: Nvidia faces high-stakes Q3 earnings. Wall Street demands strong beat-and-raise
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- Australian data: Westpac Leading Index for October 2025 +0.11% m/m (prior –0.03%)
- Japan: September Core machinery orders +4.2% m/m (expected +2.5%) & +11.6^% y/y (v. +5.4%)
- Trump signalled he has already decided who next Fed Chair will be, but doesn't drop a name
- Deutsche Bank says central-bank demand keeps gold on bullish path into next year
- Foreign demand for Treasuries slips in September, Japan boosts buying
- White House announces weapons sales to Saudi Arabia, also an AI MOU
- Investors expect steady euro through 2026, BoA survey finds
- Trump pumps AI investment, making US economy hottest in world. Regulation tho, hot or not?
- investingLive Americas FX news wrap 18 Nov: USD is mixed. Nvidia earnings tomorrow
- New Zealand Q3 PPI: Outputs +0.6% (+0.7% expected) Inputs +0.2% (expected +0.9%)
- Oil - private survey of inventory shows a headline crude oil build greater than expected
- US stocks close lower. Midday rally runs out of steam
- UK media reports that Reeves will consider 'shielding' small businesses from tax rises
Risk appetite faded as currency pressure, Japan’s stimulus plans and Ukraine peace manoeuvring shaped the session.
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Antipodean data offered a mixed picture. New Zealand’s PPI undershot expectations, while Australia’s wage figures for the September quarter came in exactly in line with both market and RBA forecasts. Headline wages rose 0.8% q/q and 3.4% y/y, but the detail leaned soft: private-sector wage growth slowed to 3.2% y/y and average pay rises were smaller than a year ago (3.6% vs 3.9%). Public-sector wages, however, remained elevated at 3.8% y/y.
Across FX, Asian currencies traded mixed in a risk-off environment as investors continued to question stretched U.S. equity valuations. The AUD and NZD underperformed through the session.
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In Japan, Kyodo reports that Prime Minister Sanae Takaichi’s stimulus package will exceed ¥20 trillion, backed by a ¥17 trillion supplementary budget. The scale of the package appears to be driving urgency in Tokyo:
BOJ Governor Ueda meets Finance Minister Katayama and Economic Revitalisation Minister Kiuchi on Wednesday, with Katayama set to brief media afterwards.
The meeting follows Ueda’s formal talks with PM Takaichi on Tuesday, covering economic conditions, policy outlook, and the yen’s rapid slide.
Advisers continue to push a cautious approach to tightening. Goushi Kataoka, a member of Takaichi’s economic panel and former BOJ board member, told Bloomberg he does not expect a rate hike before March, arguing that policymakers must first confirm the impact of fiscal stimulus.
Japanese Government Bond yields ticked higher, while the yen briefly firmed, with USD/JPY slipping toward 155.30 before bouncing after reports that China plans to reinstate a ban on Japanese seafood imports, adding fresh tension to the bilateral relationship.
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On the geopolitical front, Axios reports the U.S. is secretly drafting a new plan—developed in consultation with Russia—to end the war in Ukraine. Senior U.S. military officials also made an unannounced visit to Kyiv this week, underscoring the fluidity of the diplomatic and military picture.
Asia-Pac stocks:
- Japan (Nikkei 225) -0.12%
- Hong Kong (Hang Seng) -0.45%
- Shanghai Composite -0.04%
- Australia (S&P/ASX 200) %-0.12
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Ahead, after the US cash close on Wednesday, are Nvidia earnings. There is a preview in the points above, highlighted!. Markets once again look to the firm to save us!
