ForexLive Asia-Pacific FX news wrap: Yen little changed, awaiting the BOJ | Forexlive


Australia’s new strategic materials list: unlocking $40bn in government supportBank of Japan statement is due Tuesday – previewReserve Bank of Australia December minutes due Tuesday – Q4 inflation data the key thoughA car collided with US President Biden’s motorcade – no injuriesPolicy insights speeches today from ECB board members Schnabel and LaneRecord-breaking freeze grips China as government prepares emergency responsePBOC sets USD/ CNY reference rate for today at 7.0933 (vs. estimate at 7.1135)Oil Price Forecasts for 2024: Goldman Sachs, JPMorgan, Morgan Stanley, and Bank of AmericaSingapore data – November NODX +0.3% m/m (expected +0.2%)Goldman Sachs trims 2024 Brent Crude Oil forecast, expects range bound tradingNorth Korea have fired a ballistic missile (another one)China says 2024 will be a better year for economy despite headwindsUBS CEO says he is not convinced that inflation is really under controlAustralia confident tariffs China placed on Australian wine will be removed in 2024New Zealand services PMI for November jumps into expansionJapan’s MUFG to buy Australian firm for around USD740mnRussia’s Novak says considering additional oil export cuts of about 50,000 bpd in DecemberChicago Fed head Goolsbee says ‘too early to declare victory’ on economic ‘soft landing’Economic calendar in Asia for Monday, 18 December 2023 – New Zealand and Singapore dataNew Zealand Q4 consumer confidence hits its highest in two yearTrade ideas thread – Monday, 18 December, insightful charts, technical analysis, ideasMonday morning open levels – indicative forex prices – 18 December 2023Weekly Market Outlook (18-22 December)Week Ahead: Highlights include US PCE; BoJ, PBoC; CPI from Japan, UK, CanadaS&P streak ends at 6 days. For the Dow and Nasdaq, make it a 7 and 7.Forexlive Americas FX news wrap: Williams helps to lift the US dollar

The
Bank of Japan Statement and Governor Ueda’s press conference
following is due on Tuesday. USD/JPY is little changed on the day
awaiting these.

Other
major FX was characterised by general USD weakness. EUR, BP, CAD, AUD
all rose a little. NZD/USD was a better performer. It opened by being
marked down in very early trade but has since rallied to highs around
0.6240. Early in the session was data from NZ showing Q4 consumer
confidence hit a two-year high. This data is generally not much a
forex mover upon release and its doubtful it accounts for much, if
any, of today’s rise.

News
flow today and over the weekend was light. From
China we did have comments from an official from the Chinese
Communist Party’s General Office of the Central Financial and
Economic Affairs Commission saying that the major economic targets
set for 2023 are expected to be achieved. He said that China’s
economic growth faces more opportunities than challenges and more
favourable conditions. There is more in the bullets above.

Russian Deputy PM Novak said Russia would deepen cuts beyond the 300,000 barrels per day of cuts, “there may be an additional 50,000 bpd, maybe more.”



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