- Goldman Sachs not expecting US recession, but debt ceiling crisis is a key risk for one
- Hong Kong has opened after its 5 day weekend - Hang Seng index jumps 1.5%+
- Bitcoin update - still holding above US$23K
- ICYMI - S&P forecasts a US recession in Q1 and Q2 of 2023
- Here are the important US data releases coming up on Thursday, 26 January 2023
- Was there heated debate at the Bank of Japan January meeting?
- MUFG head of markets says BOJ could launch an exit strategy as soon as end-September 2023
- UK annual car production in 2022 fell to the lowest in more than six decades
- Bank of Canada expected to leave the overnight rate unchanged for the rest of this year
- BoJ January policy meeting Summary of Opinions - more time needed to assess December move
- Fed Vice-Chair Lael Brainard a leading contender to become Biden's top economic adviser
- South Korean Q4 GDP has contracted even worse than was expected
- New Zealand's new PM says labour shortage is a major concern for businesses
- ICYMI - WSJ says Elon Musk Explores Raising Up to $3 Billion to Help Pay Off Twitter Debt
- Forexlive Americas FX news wrap: Bank of Canada signals conditional pause in rates
- ICYMI - 3 ECB speakers overnight, all beating the +50bp rate hike drum
- Goldman Sachs issue revisions to their USD/JPY forecasts out to a year
- US major indices close mixed
- Trade ideas thread - Thursday, 26 January 2023
Major FX rates traded in subdued ranges during the timezone here today. Contributing to lacklustre ranges were the wait for US data later on Thursday, and holidays in mainland China and Australia today.
Hong Kong markets reopened after the five-day long weekend for Lunar New Year celebrations. HK equities jumped higher. As I post Hong Kong’s Hang Seng index is up around 1.7% and the Hang Seng Tech Index + circa 2.4%.
In Japan the Nikkei 225 and Topix are more or less flat. We had the ‘Summary of Opinions’ published by the Bank of Japan from its January monetary policy meeting. More on the Summary in two posts above. Yen added a little strength. USD/JPY dropped under 129.20 at one stage and is just above as I update.
South Korea’s Kospi is up around 0.27%, Kosdaq + circa 0.5%. Data from South Korea earlier in the session showed Q4 2022 GDP shrinking, the first contraction in over two years. SK’s government subsequently pledged more support for the economy and the property sector specifically.
Hong Kong Hang Seng:
Thursday, 26 January 2023
