- BOJ likely to hike in December as yen slide boosts inflation risk, Reuters poll shows
- White House wants Congress to oppose export-restrictions targeting Nvidia chips to China
- China weighs new stimulus to stabilise weakening property market. Real estate shares up.
- Yen could hit 160, but rising chance of intervention, economist warns
- FX option expiries for 20 November at the 10am New York cut
- Japan warns on “sharp, one-sided” yen moves as Kihara signals heightened urgency
- RBA warns against overreacting to volatile inflation as Hunter flags structural shifts
- Despite a hawkish sounding BoJ board member Koeda the yen has fallen further, 157.40
- BOJ’s Koeda signals need for further tightening as inflation holds near 2%
- China holds lending rates steady for sixth month as policymakers stay cautious
- PBOC sets USD/ CNY reference rate for today at 7.0905 (vs. estimate at 7.1201)
- US media says Trump 'quietly' approved a Ukraine-Russia peace plan earlier this week
- IMF urges sweeping tax reform as Australia’s debt climbs past $1 trillion
- Nvidia posts blowout quarter, lifts outlook & sees $500bn chip demand through 2026 - Recap
- UK consumer confidence suffers sharpest fall since April as tax and cost worries rise
- Barclays lifts S&P 500 target to 7,400, from 7,000, citing megacap tech strength into 2026
- Japan vows ‘urgent’ market watch as yen weakens on expectations of huge stimulus
- Australian regulator warns banks against easing mortgage standards
- Trump weighs AI order targeting state laws with lawsuits and broadband funding threats
- U.S. to approve major AI-chip sales to UAE and Saudi Arabia with strict China safeguards
- Nvidia sees $500bn chip pipeline through 2026, but China sales hit by geopolitics
- U.S. may delay chip tariffs as White House weighs risks of China backlash
- Economic calendar in Asia 20 November 2025: People's Bank of China Loan Prime Rate (LPR)
- US equity index futures have risen further after Nvidia reports beats
- Nvidia Q3: Adj. EPS 1.30 (expected 1.24), Revenue 57.00bln (expected 54.41bln),
- Fire erupts at Venezuela's Petrocedeno crude upgrader
- Major US stock indices rise ahead of Nvidia earnings
- investingLive Americas FX news wrap 19 Nov USD moves higher as jobs data postponed
U.S. equities finished modestly higher after a choppy Wednesday session, with tech leading gains ahead of Nvidia’s earnings. The results landed after the bell and were emphatically strong:
- Q3 revenue surged to $57bn, driven by powerful data-centre growth,
- while Q4 guidance of ~$65bn topped forecasts.
- Management said demand for Blackwell and cloud GPUs is “off the charts”,
- and the company now has visibility to roughly $500bn in next-gen chip revenue through 2026.
Nvidia shares rose more than 5% in late trade after closing the cash session up 2.8%.
The upbeat numbers improved broader equity sentiment and flowed into risk FX, though unevenly. AUD and NZD firmed, while EUR and GBP lagged. The yen remained THE notable underperformer.
BoJ board member Toyoaki Koeda delivered her strongest signal yet that policy normalisation must continue, arguing that rates need to rise further to prevent future distortions. Koeda said underlying inflation is now around 2%, supported by tight labour-market conditions and broadly solid activity. Although she has voted to hold at 0.5% at all five meetings since joining the board in March, her tone was distinctly more hawkish — and some analysts now see a rising probability of a December hike.
The yen, however, showed little reaction and weakened further. Japanese government bonds also sold off sharply, with long-end yields hitting new highs as fiscal worries and currency weakness deepened:
- 30-yr yield +3bps to 3.37%, a record
- 20-yr +3.5bps to 2.85%, highest since 1999
- 10-yr +3.5bps to 1.80%, highest since 2008
- 2-yr +2bps to 0.945%, highest since 2008
- 5-yr +4bps to 1.30%, highest since 2008
- and by the time you read this yields will have risen even further ... 30 year now 3.39%, for example
Chief Cabinet Secretary Kihara also weighed in with a sharper warning on FX, describing recent yen moves as “sharp, one-sided” and “excessive”, and flagging speculative activity. Even this more forceful verbal intervention failed to generate support for JPY.
In Australia, RBA Assistant Governor Sarah Hunter said last quarter’s inflation surprise has made prior forecasts obsolete and forced policymakers to reassess their easing bias after three cuts this year. She noted that if growth runs above trend for a sustained period, it could generate new inflation pressures and alter the policy path.
China’s PBoC left Loan Prime Rates unchanged for a sixth month at 3.0% (1-yr) and 3.5% (5-yr), reinforcing its steady-policy stance amid patchy credit demand.
ps. As this wrap was being finalised, Bloomberg reported that the White House is urging Congress to reject legislation imposing stricter limits on Nvidia’s advanced-chip exports to China and other foreign buyers.
Asia-Pac stocks:
- Japan (Nikkei 225) +2.6%
- Hong Kong (Hang Seng) +0.14%
- Shanghai Composite +0.38%
- Australia (S&P/ASX 200) +1.18%
