Both the CSI 300 and Shanghai Composite indices are up by over 3% on the day now as Chinese authorities are stepping in to intervene in the market again. The yuan currency itself also seeing a notable rebound with USD/CNH in particular falling back to near 7.20 after...
Japan PM Kishida reiterates that specific monetary policy decisions are up to the BOJ
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Are traders finally getting on board with the central bank pushback?
The main story in markets coming into this year is that of central banks. To be more specific, it is about rate cuts and when we might get them. Traders were quite optimistic on that front and aggressively priced in rate cuts in the final two months of last year. Now,...
Forexlive Asia-Pacific FX news wrap: RBA holds rates, China market murmurs continue
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RBA’s Bullock: We still have got a “little way to go” to get inflation down
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Chinese President Xi JInping to discuss stock market with regulators
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Australian dollar edges higher after RBA decision. Bullock up next
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New economic forecasts from the RBA
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RBA holds cash rate at 4.35%, as expected. Says further hike cannot be ruled out.
Prior was 4.35%While recent data indicate that inflation is easing, it remains high. The Board expects that it will be some time yet before inflation is sustainably in the target rangeInflation continued to ease in the December quarter. Despite this progress,...
The RBA decision coming up next
RBAThe RBA decision is due at the bottom of the hour. The mode in global central banks has to been to shift to a neutral stance from outright hawkishness. Will the RBA do the same? Right now there is only a minimum chance of a price hiked in today but that gradually...
China stocks open higher but clock ticks on rumored 2 trillion yuan rescue package
The CSI300 is up 1.3% early trading today with the help of comments from the sovereign wealth fund and the regulator. Chinese stocks are in an interesting spot because of week-long holidays that will start on Friday. That may ramp up the pressure to act...
China securities regulator says it encourages firms to buy back more shares
The China securities regulators says it encourages listed firsm to buy back more shares to inject more capital into the A-share market and make every effort to maintain stable market operations.Alibaba reports earnings tomorrow and it has a large cash pile. Many...
China sovereign wealth fund vows to further increase ETF holdings
Chinese stocks have been front-running talk of more stimulus and help. Now there are multiple reports of comments from China Central Huijin Investment and a statement saying they will increase the investment of China stock ETFs and are determined to safeguard the...
The Federal Reserve speaker parade continues on Tuesday. What to watch for
The comments from Federal Reserve Chairman Jerome Powell on 60 Minutes set the tone for the week. I don't think he said anything new but there was plenty of talking... and there is plenty more to come.I strongly suspect the Fed could live with its current messaging...
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Australia Q4 retail sales +0.3% vs +0.1% expected
Australia retail tradePrior was +0.2% (revised to -0.1%)Change compared to a year earlier -1.0%, seasonally adjustedThis is the strongest quarterly growth since Q3 2022 but it comes largely thanks to a downward revision to Q2.Ben Dorber, ABS head of retail statistics,...
China on the brink: A look at the long-term Chinese stock market charts
China's CSI 1000 index grabbed some rare attention yesterday as it briefly plunged 8.7%. It's a rarely-talked-about index that's largely driven by derivatives on small stocks so I wouldn't take it as an indicator of a crash.That said, it is certainly indicative of the...
UK BRC January retail sales +1.4% y/y vs +1.9% prior
Prior was +1.9%Consumer spending +3.1% y/yConsumer confidence about personal finances at highest since Nov 2021The UK retail sales data from the British Retail Consortium (BRC) provides insight into the performance of the retail sector in the United Kingdom. These...
Japan chief gov’t economist: If wage growth exceeds last year, we’ll probably see cycle
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