An extraordinary parliamentary session will begin in Japan today, November 28.Will run to December 21. The special Diet session is to allow for deliberation on a supplementary budget needed to fund new inflation-relief measures proposed by the government of Japanese...
JP Morgan says Bank of Japan will hike to 1.5% (but not soon)
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South Korea will extend its fuel tax cuts by another 2 months
South Korea's finance ministry said that it will extend the tax cut on fuel for two more monthsOut to February 2025 South Korea has implemented a series of fuel tax cuts since 2021 to alleviate the financial burden on consumers amid fluctuating global oil prices and...
Bank of Korea cut benchmark interest rates for a second straight meeting – a surprise move
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The US has reduced its travel advisory level for China from 3 down to 2
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PBOC sets USD/ CNY mid-point today at 7.1894 (vs. estimate at 7.2227)
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USD/JPY is up 100-odd points towards 151.75
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Business sentiment in UK services sector is falling at the fastest rate in two years
The CBI survey shows UK services sector sentiment falling at its fastest pace in two years, driven partly by tax increases in Finance Minister Rachel Reeves’ October 30 budget, according to the Confederation of British Industry (CBI). The decline is most severe in...
Bank of Korea unexpectedly cuts its base rate by 25bp
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Australian data: Q3 Capex headline rose 1.1% vs. +0.9% expected & -2.2% prior
A small beat for the headline. Total new capital expenditure rose by 1.1%Buildings and structures rose by 1.1%Equipment, plant and machinery rose by 1.1%Estimate 4 for 2024-25 is $178.2b. This is 5.1% higher than Estimate 3 for 2024-25Driven by non-mining, pick up for...
Plan to overhaul the RBA including splitting the board in two could be back on the agenda
Plan to overhaul the RBA could be back on the agenda. Australia's government Labor Party and left-wing Greens Party held last-minute talks to revive the stalled legislationBloomberg had the report (Bloomberg is gated). ***Reminder of what this is all about. In 2023,...
Mexico has agreed to stop migration into the US (closes southern border)
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PBOC is expected to set the USD/CNY reference rate at 7.2227 – 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...
US expected to announce further AI chip sanctions against China on Monday
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New Zealand data – ANZ November Business Confidence 64.9 (prior 65.7)
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Data from New Zealand today confirms signs of still-rising unemployment
Stats NZ released its monthly 'Employment Indicators' data, for October 2024:there are over 35,500 fewer jobs now in NZ than there were a year agoover 30,000 jobs gone in the 15-29 age bracketnumber of filled jobs for October 2024 fell by over 2,000 (0.1%) to 2.36...
HSBC forecasts EUR/USD to 0.99 by the end of 2025
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MUFG with two reasons for the yen rise … and a word of caution
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Forexlive Americas FX news wrap 27 Nov: Core PCE inflation remains sticky but as expected
Markets:Gold up $4.02 or 0.15% at $2636.60US 10-year yield 4.249%, -5.2 basis pointsUS 2-year yield 4.223%, -3.1 basis pointsWTI crude oil down four cents or -0.2% and $68.72S&P 500 fell -22.89 points or -0.38% to5998.74NASDAQ fell -113.82 points or 0.59% to...