ForexLive Asia-Pacific FX news wrap: Losses for the USD continued | Forexlive

in China continued under pressure, with the Shanghai Composite
hitting a four year low. As I post its showing some bounce with
chatter that China’s ’National Team’ (China’s
state-backed funds) were in buying. By pretty much any measure
Chinese equities are trading cheap, perhaps the Team is getting a
bargain. We were given the heads up to something like this earlier in
the week:

data calendar today featured the Australian jobs report for December.
There are details in the bullets above but, in brief:

was a loss of around 65K jobs in the month, the second-largest loss
since the 1993 recession

positions rose by 41,400 this was offset by the loss of 106,600
full-time position

unemployment rate stayed steady at 3.9% due to a fall in the
participation rate from its record high in November

the margin, a slowing labour market (if that is the implication that
can be drawn from one month’s data) should take some wage pressure
out of drivers of inflation in Australia. The RBA next meet on
February 5 and 6. At least one bank’s analyst team have dropped
their forecast for a hike at this meeting after today’s data.

dipped after the labour market report but soon recovered to track
higher alongside a weaker US dollar pretty much across the major’s

political developments continue to escalate:For
the 4th time in a week, US struck Houthi military sites in YemenPakistan
conducted attacks inside Iran on camps of Baloch terrorists, with
drone and missile strikes. Iran said several missiles hit a border
village as well.

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