ForexLive Asia-Pacific FX news wrap: USD/JPY rises above 145.50 | Forexlive


China’s deflationary CPI data sends yuan to 3-week lowFOMC preview and look ahead – no rate cut in March 2024Pensions giant invests US $20m into a UK crypto derivatives trading platformBank of America cautions investors on overly optimistic rate cut predictionsEuropean Central Bank’s McCaul speaking on Greece on MondayMore on Ueda remark taken out of context by the market, the report shifted USD/JPYFederal Open Market Committee (FOMC) preview and outlook further aheadBearish Reversal Pattern Detected on NASDAQ 100 E-mini Futures Hourly ChartA US fighter jet F-16 has crashed into into the Yellow Sea off the Korean PeninsulaPBOC 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 overvaluedJP Morgan analyst Marko Kolanovic has a poor risk:return for US stocks next yearUK manufacturing sector shows green shoots as restocking and export orders riseBank of England to cut rates faster than expected, says Goldman SachsReserve Bank of Australia Governor Bullock speaks Tuesday, AssistantGov Jones on WednesdayChina’s crude imports fell to a four-month low in November; decline in domestic demandECB rate cuts expected in 2024, beginning March, as euro area inflation declines rapidlyUSD/JPY: Solid jobs report, reduced expectations of Fed cut, BOJ pivot, underpinning pairFire triggers explosions at Eastern Iran’s Birjand RefineryDeflation pressures in China showed up starkly in the inflation data over the weekendTrade ideas thread – Monday, 11 December, insightful charts, technical analysis, ideasMonday morning open levels – indicative forex prices – 11 December 2023Timiraos: Fed unlikley to talk about rate cuts and perhaps may not for several monthsWeekend news: China CPI -0.5% y/y vs -0.1% expectedWeekly Market Outlook (11-15 December)Week ahead highlights include: FOMC, ECB, BoE, SNB; US CPI, China activity dataS&P index is a new 52 week high. NASDAQ closes at its highest level this yearForexlive 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:



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