- China's December exports are expected to jump from November - beat the tariffs race
- Some chatter about on the potential for AUD/USD to drop under 0.60
- Toyota unions to aim for higher wages, better conditions
- People's Bank of China briefing next week - note for the diary
- PBoC pauses bond buying - more
- PBOC sets USD/ CNY reference rate for today at 7.1891 (vs. estimate at 7.3138)
- ANZ now forecasting a February Reserve Bank of Australia rate cut
- PBOC pauses government bond purchases in the open market
- Japan Eco Min Akazawa: 'critical stage' in eradicating the public's deflationary mindset
- US non-farm payrolls data due today - the critical key ranges for estimates to watch
- Australian household spending +0.4% m/m in November (expected +0.7%)
- Goldman Sachs forecast higher inflation under Trump, but Fed will cut rates anyway
- Japan November Household Spending +0.4% m/m (expected -0.9%)
- Potential Interest Rate Cut in Australia: Analysts Divided
- Navigating Chinese Equities: Challenges and Opportunities Ahead
- Goldman Sachs' three key risks for equities (#3 is a cracker - competition from Bitcoin!)
- "Trump’s gambit to buy Greenland may sound ridiculous, but it’s not impossible"
- Canadian PM Trudeau says 'we would definitely respond' if Trump does impose tariffs.
- US and Denmark lobbied for Greenland's largest rare earths deposit not to be sold to China
- Trade ideas thread - Friday, 10 January, insightful charts, technical analysis, ideas
- Crypto Market Slumps for Third Consecutive Day, Bitcoin Drops Below Key Support
Major FX was relatively subdued ahead of the US NFP data later on Friday. USD/JPY consolidated above 158.00
News and data flow were light.
Japanese November household spending data beat, while Australian household spending data for November disappointed.
While on Australia, ANZ changed its Reserve Bank of Australia rate cut forecast to February from May. ANZ and CBA are now both tipping a February 25bp rate cut (the RBA meeting is on the 17th and 18th).
China's central bank announced on Friday that it will temporarily halt treasury bond purchases due to a shortage of supply, leading to a rise in yields across various maturities.
- The People's Bank of China (PBOC) stated it would consider resuming bond buying based on supply and demand conditions in the government bond market ahead, but for now have paused buying.
- This decision follows the PBOC's repeated warnings about bubble risks in China's overheated bond market, where long-term yields have consistently reached record lows.
- In response to the announcement, yields, which move inversely to bond prices, surged. The 30-year treasury yield rose by five basis points in early trading, while the 10-year yield increased by four basis points.
Offshore yuan also appeared to be waiting for the US data:
