Wharton finance professor says Fed could pause next week if NFP comes in hotJapan finance minister Kato closely watching FX moves including those drive by speculatorsJapan DPP head says BOJ should avoid big policy change now b/c real wages standing stillNo Fed speakers this week, or next. Its FOMC blackout time ahead of November 6 – 7 meetingBank of Korea Governor says not short on ammunition to stabilise FXReports that China’s Luckin Coffee to enter US market – plans to undercut Starbuck pricesPBOC sets USD/ CNY reference rate for today at 7.1283 (vs. estimate at 7.1271)Bank of Canada Governor Macklem and Deputy Rogers are speaking again on TuesdayFaster UK disinflation in October (shop price index) – keeps BoE rat cuts on front burnerJapan’s tight labour market (2.4% u/e rate!) should be positive for wages, BOJ rate hikesUK inflation indicator: BRC Shop Price Index fell faster in OctoberJapan September jobs report: Unemployment rate 2.4% (expected 2.5%)Preview – Bank of Japan meeting this week – no change to policy expectedJapanese PM Ishiba is reportedly seeking a coalition with DPPAustralian weekly Consumer Confidence 86.4 (prior 87.5)4 Big reasons that UBS target US$2850 for goldJapan’s Komeito leader will resign (Japan media report)Nate Silver tips Trump to cruise to the win in the US electionForexlive Americas FX news wrap 28 Oct. US yields move higher.USDJPY rises after electionsGoldman Sachs like US equities higher through year-endJapan’s Toyota & NTT to invest $3.26 bn R&D to create AI software to improve self-drivingBank of America technical analysts like S&P 500 through to the end of the yearBroader US indices close near lows for the dayTrade ideas thread – Tuesday, 29 October, insightful charts, technical analysis, ideas
It
was a reasonably quiet session here in Asia today.
Data
confirmed a tight labour market in Japan, with some arguments that
this augers well for wage rises. The counter to this is that Japanese
unemployment had been low for years before wages began rising. It
took political pressure to get wage rises.
In
Japan political news it appears that PM Ishiba is negotiating with
the Democratic Party for the People (DPP) to join the LDP/Komeito
coalition. Head of the DPP, Yuichiro Tamaki says he wants the Bank of
Japan to stop hiking rates, saying real wages are not rising:
“Once
there is certainty that real wages will exceed 4% at next year’s
spring wage negotiations, that’s when the BOJ can review monetary
policy”.
Wow,
that’s a long way off.
USD/JPY
has dribbled a little lower on the session, and is around 153.00 as I
post.
Elsewhere
across major FX ranges have been very small indeed.
This article was written by Eamonn Sheridan at www.forexlive.com.
