General Secretary of the Communist Party of China (CPC) Central Committee, Xi Jinping has weighed in with some motivational comments to fix China's economy:urged efforts to accelerate the development of "new productive forces" and firmly promote high-quality...
European Central Bank’s Lane and Centeno are speaking on Thursday
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Bank of England Monetary Policy Committee meeting today – preview
Bank of England meets Thursday 01 February 2024:no policy changes are expectedlooking ahead markets have priced in the first cut from the Bank by the June meeting (the 20th), may is a possibility thoughTraders will be assessing the break down of votes on the Monetary...
The US House approved a bill to further child tax credit, extend some business tax credits
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China Vice Finance Minister says fiscal spending, policy will help expand domestic demand
China Vice Finance Minister2023 tax and fee cuts, rebates totalled 2.2 trillion yuanExpects fiscal revenue to continue to recover in 2024Will maintain certain intensity in fiscal spending in 2024Fiscal policy will help expand domestic demandWill appropriately increase...
China Caixin Manufacturing PMI for January 50.8 (expected 50.6)
The privately-surveyed manufacturing PMI from China for January, Caixin/S&P Global comes in better than expected at 50.8expected 50.6, prior 50.8Key findings highlighted in the report:Production continues to expand modestly, but total sales growth softens New...
PBOC sets USD/ CNY reference rate for today at 7.1049 (vs. estimate at 7.1802)
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CBA on inflation and Reserve Bank of Australia – RBA to revise their inflation forecasts
Analysts at Commonwealth Bank of Australia on yesterday's Australian inflation data and what it means for the Reserve Bank of Australia.The December quarter CPI was below market expectations on both the headline and underlying measures. Importantly for the outlook for...
Japan business lobby head agrees with unions on need for wage hike
Japan business lobby Keidanren chief Tokura: share view with labour unions on need to achieve structural wage hike**Keidanren is a significant organisation in Japan with close links to Japan’s ruling Liberal-Democratic Party. It provides advice to the government on...
Japan data – Jibun Bank Manufacturing PMI (final) for January 2024 48.0 (prev 48.0)
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Australian data, December building permits -9.5% m/m (expected +1.1%)
more to comeAustralia Building Approvals -9.5% m/mexpected 0.5%, prior 1.6% Australia import price index (Q4) 1.1% q/qexpected 0.6%, prior 0.8%Australia exports prices (Q4) +5.6% q/qexpected 3.5%, prior -3.1%Also, from the National Australia Bank Q4 business survey,...
Goldman Sachs are now forecasting the first Fed rate cut in May, from March prior
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Fitch responds to the FOMC and Powell – “we don’t see rate cuts until June or July”
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News filtering in of a fresh round of US strikes on Houthi targets in Yemen – unconfirmed
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JP Morgan forecast the first FOMC rate cut in June, but are wavering on perhaps May
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US Dollar Looks to Jobs Data After Fed; Setups on Gold, EUR/USD, USD/JPY, GBP/USD
Trade Smarter - Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Fed Holds Steady, Ditches Tightening Bias; Gold and US Dollar on the MoveThe Federal Reserve on Wednesday...
BoA says Powell hoodwinked the markets – all fooled by ‘Maradona Theory of Interest Rates’
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A warning that the Federal Reserve could be forced hike rates, not cut
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Australia Final January Manufacturing PMI 50.1 (prior 47.8) – with a warning on inflation
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