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New Zealand still negotiating to form a government – caretaker govmt will remain for now
New Zealand PM Hipkins and Christopher Luxon have agreed the Governor General will be advised to extend current caretaker government arrangements until the new government is formedNew Zealand is inching closer towards forming a government after the election back on...
ForexLive Asia-Pacific FX news wrap: RBA statement revises inflation forecasts higher
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US markets will remain open on (observed) Veterans Day
November 11 is the Veterans Day federal holiday in the US. There will wide observance of the holiday on Friday November 10, but not for US markets. US stock markets, including the New York Stock Exchange and the Nasdaq, will be open for business as usual on Friday.The...
China’s Central Bank Governor is closely watching debt risks in various sectors
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China’s robust vehicle sales surge, NEV market shines
Vehicle sales in China continue to perform strongly. October vehicle sales were up 13.8% y/y (from September's +9.5%)YTD (January - October) vehicle sales were up 9.1% y/y (from January - September +4.6%)New Energy Vehicles (NEV) sales knocked it out of the park with...
Nvidia set to launch sanctions-busting AI chips to the Chinese market
Media reports citing chip industry newsletter SemiAnalysis are of Nvidia planning to release three new artificial intelligence chips aimed at the Chinese market:the Nvidia chips are called the HGX H20, L20 PCIe and L2 PCIeNvidia could announce them on as early as...
PBOC adviser says China’s economy will beat pessimism and grow over 5%
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EU, US, and UAE lead global coalition to phase out coal and triple renewable energy
The European Union, United States and United Arab Emirates have hammered out an agreement to shift away from coal, triple renewable energy this decade. More than 60 countries have said they will join the pledge:, including:major emerging economies like Nigeria, South...
European Central Bank big guns Lagarde and Nagel speak Friday
A couple of European Central Bank superstars are on the speaker circuit on Friday, Lagarde and Nagel. 1230 GMT / 0730 US Eastern time: 'Fireside chat' between ECB President Christine Lagarde and Martin Wolf at Financial Times' Global Boardroom 2023 in London, UK1520...
PBOC sets USD/ CNY reference rate for today at 7.1771 (vs. estimate at 7.2963)
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Saudi Arabia’s oil minister blames speculative activity, OPEC exports for falling prices
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has come out saying that global oil demand is not weak, "It’s all a ploy.” On falling prices he blames speculative activity and higher oil exports from OPEC member countries in recent months.MoneyMaker FX EA...
RBA raises the alarm: Inflation risk is higher for longer
Reserve Bank of Australia Statement on Monetary Policy (SoMP). Board's priority is to return inflation to targetConsidered whether to pause in Nov, decided a hike would provide more assurance on inflationIn hiking, judged risk of inflation staying higher for longer...
PBOC is expected to set the USD/CNY reference rate at 7.2963 – 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...
Citadel head Griffin on a new era of deglobalization, predicts decades of higher inflation
Ken Griffin, head of hedge-fund manager Citadel, said higher baseline inflation may go on for decades, citing structural changes that are pushing the world toward de-globalization.there are multiple trends "that are pushing us toward de-globalization" Griffin referred...
Japanese Government 886bn JPY fiscal injection – second extra budget planned
The Japanese government will boost its fiscal loan and investment program with an additional 886bln JPY. One of the aims is to improve the supply chain. Extra funding will come via a second extra budget. Reuters conveys the info, referring to a draft that it has...
JPMorgan is not fully on board with Powell’s message re more to be done on inflation
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ECB’s Vujcic is upbeat about a eurozone soft landing, still has a data dependent rate view
Boris Vujčić Governor of the Croatian National Bank and thus an European Central Bank Governing Council member. He spoke in an interview, sounding upbeat on achieving a eurozone soft landing. “If our current projections materialize, then we will have a soft landing...
Hidden excess: New study reveals surprising amount of US savings – soft landing ahead
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BlackRock’s Ethereum ETF plan confirmed in Nasdaq filing
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