Billionaire investor Warren Buffett's Berkshire Hathaway said it added to stakes in Japan's five biggest trading houses to beyond 8% on Monday, a move likely to highlight and add to the momentum driving Japan's stock market to new heights.FULL NOTE**COMPANIES IN WHICH...
Market Update – June 19 – US Holidays, Blinken in China, Waiting for the PBoC
Asia-Pacific markets largely fell on Monday in a week when the PBoC is broadly expected to cut its 1-year and 5-year Loan Prime Rates tomorrow while uncertainty is surrounding China’s economy and the scope of any potential stimulus. In an attempt to improve...
Asian stocks pause rally, eyeing China stimulus, Powell testimony
Asian shares fell on Monday, consolidating gains after their best weekly run in five months, while investors looked ahead to China's rate decision and U.S. Federal Reserve Chair Jerome Powell's testimonies for clues on the path ahead.FULL NOTE🔹 Nikkei slides, yen at...
China’s top diplomat Wang Yi on the wires after meeting with Blinken
China's top diplomat Wang Yi, in meeting with U.S. Secretary of State Blinken:Tweet**WE MUST TAKE A RESPONSIBLE ATTITUDE TOWARD THE PEOPLE, HISTORY AND THE WORLD, REVERSE THE DOWNWARD SPIRAL OF U.S.-CHINA RELATIONS**THE U.S.-CHINA RELATIONSHIP IS AT A LOW POINT, WITH...
The @Newsquawk Europe Market Open: US-China talks in focus US markets closed ECB speak due
The @Newsquawk Europe Market Open: Europe Market Open: US-China talks in focus with US markets closed & ECB speak dueFull note4 Things You Need to KnowAPAC stocks were mostly negative following last Friday's losses on Wall St, while risk appetite was also...
More from Goldman Sachs – reasons for slashing their China growth forecast
The news and in brief reasoning is here from earlier:And other analysts are also cutting:More from Goldman Sachs, citing as reasoning for their downgraded forecast:upcoming policy easing is unlikely to exceed those implemented in previous downturnsProperty and...
The PBOC is expected to cut rates again on Tuesday, 20 June 2023: Loan Prime Rates (LPRs)
There have been plenty of stimulus announcments from China last week:And more are expected to come:On Tuesday, 20 June 2023 we get the next policy move from the People's Bank of China, an expected cut to LPRs. Currently LPR rates are: 3.65% for the one year 4.30% for...
European Central Bank speakers on Monday, 19 June 2023 include Lane and Schnabel
Both of these two are never shy to express views on their economic and monetary policy outlooks. At 1100 GMT/0700 US Eastern time, European Central Bank chief economist Philip Lane is participating in a fireside chat on the occasion of the awarding of the German...
New Zealand PM Hipkins to meet Chinese President Xi in Beijing, in late June
New Zealand Prime Minister Hipkins will meet with China's President Xi Jingping and Premier Li QiangThe meeting will be part of Hipkins' trip to China from 25 to 30 June. He'll be leading a business delegation and will be visiting Beijing, Tianjin And Shanghai.New...
ForexLive Asia-Pacific FX news wrap: Fretting over China growth
What would an AI-based Bank of Canada do?North Korea says it will be "increasing the production of powerful nuclear weapons"FX option expiries for Monday, 19 June 2023, at the 10am New York cutChina's Foreign Minister Qin Gang & US Secretary of State Antony...
What would an AI-based Bank of Canada do?
CIBC is the Canadian Imperial Bank of Commerce based out of Toronto, Ontario.Economists at the bank have asked What would an AI-based central bank do? Specifically would would an AI bank have done at its meeting just over a week ago?The analysts answer that: An...
North Korea says it will be “increasing the production of powerful nuclear weapons”
North Korea state media, Korean Central News Agency (KCNA) with the report:The Political Bureau of the party's Central Committee called on "the national defense field to consistently adhere to the orientation of developing nuclear weapons and the line of bolstering up...
FX option expiries for Monday, 19 June 2023, at the 10am New York cut
FX option expiries for Monday, 19 June 2023, at the 10am New York cut EUR/USD 1.0900 EUR887.9mn 1.0840 EUR793.4mnUSD/CNY 7.1100 USD400mnUSD/CAD 1.3458 USD350mnNZD/USD 0.6280 NZD379mn---For more information on how to use this data, you may refer to this post...
Asia Day Ahead: Wall Street Rally Pauses Ahead of Series of Fedspeak
Recommended by IG Traits of Successful Traders Get My Guide With the conclusion of the recent Federal Open Market Committee (FOMC) meeting, a series of hawkish Fedspeak is lined up on the horizon. We have a glimpse from Fed Governor Christopher Waller and Richmond Fed...
China’s Foreign Minister Qin Gang & US Secretary of State Antony Blinken met on weekend
Talks between the two went for more than 7 hours.The various comments made after the meeting were generic 'work together' type statement devoid of meaningful content. Blinken has meetings scheduled with other officials in China, including Chinese Communist Party...
PBOC sets USD/ CNY reference rate for today at 7.1201 (vs. estimate at 7.1186)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Iran is shipping the most crude in almost five years
A catch-up with this Bloomberg (gated) piece on Iranian oil exports:Exports have surged to the highest level since US sanctions were re-imposed in 2018vast majority is flowing to ChinaBloomberg cite various analysts:Crude oil shipments have doubled since last autumn...
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PBOC is expected to set the USD/CNY reference rate at 7.1186 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
Goldman Sachs have taken a knife to their China GDP forecasts: 5.4% for 2023 (6.0% prior)
I posted a couple of these earlier"Goldman Sachs have jumped on board: China GDP growth target for 2023 cut to 5.4%, from 6.0%2024 now targeted at 4.5%, from 4.6% previouslyGoldman Sachs argue that the stimulus seen is insufficient to fire up a powerful enough impulse...