- Japan Prime Minister Kishida spoke to unions, said he’d make wage rise surge sustainable
- ECB and Riksbank speakers on Thursday, 5 October 2023
- Tsunami alert issued for area of Eastern Japan coast after Magnitude 6.6 earthquake
- Citi raised its growth forecast for China to 5% this year (from 4.7%)
- Gotobi Day being cited as a reason USD/JPY has fallen in Asia trade today
- ICYMI – Italy’s Economy Minister Giorgetti questioned how realistic the ECB 2% target is
- Australian data: August Exports +4% m/m (prior -2%) & Imports 0% m/m (prior +3.%)
- New Zealand Sep. Commodity Price Index +1.3% m/m (prior -2.9%). First rise in 3 months.
- UBS cut its year-end gold price forecast to US$1,850 (from $1950 previously)
- Magnitude 5.5 earthquake, Southeast of Honshu, Japan
- South Korean Finance Min says will actively respond to speculative trading in FX market
- Crude oil price: JP Morgan cite demand destruction, while production & stockpiles to grow
- South Korea September CPI has come in at 0.6% m/m, higher than the 0.3% expected
- Former Fed vice chair Clarida says he thinks the FOMC rate hikes are done now
- Fitch Ratings on further US “deterioration in governance” but shutdown won’t impact rating
- Forexlive Americas FX news wrap 4Oct: After 30 year yield hits 5%, yields back off
- MUFG forecast GBP underperformance, say the Bank of England has overdone tightening
- US Congress chaos – Goldman Sachs says a US shutdown in November is their “base case”
- Was today’s drop in bond yields the circuit breaker we’ve been waiting for?
- Brent oil drop – ICYMI – Russian media report that Russia may ease diesel exports ban soon
- Coinbase to miss Q3 revenue estimate by 10%, analyst blames low crypto volatility, volumes
- Rebound. Stocks close higher led by the Nasdaq index
- Trade ideas thread – Thursday, 5 October 2023
The
USD lost some ground across the major’s board here in Asia today.
The drop came after the move lower for US yields on Wednesday. The ADP
jobs report published Wednesday morning US time came in well under
the consensus estimate, indeed well under the lowest estimate made
for the data.
Here
in Asia JPY was a notable gainer. Helping it along, Japan’s Prime
Minister Kishida spoke to unions at Japan’s confederation of labour
unions gathering, Rengo. He said he’d make the wage rise surge
sustainable.
EUR,
GBP, CAD, AUD, NZD all rose against the dollar as well.
News
flow was very light, and data flow was light also. Australian exports
data bounced solidly from the previous month.
Asian
equity markets:
-
Japan’s Nikkei 225 +1.2%
-
China’s Shanghai Composite % … China is on holidays all this week
-
Hong Kong’s Hang Seng +0.5%
-
South Korea’s KOSPI +0.7%
-
Australia’s S&P/ASX 200 +0.5%