- South Korea’s central bank meets this week - expected to hold interest rates unchanged
- First of 2 key Australian CPI data points ahead of Feb. RBA meeting is out mid-week
- Alaska Airlines Boeing 737 MAX 9 blowout - "incident is alarming"
- Japanese markets are closed today, but will reopen tomorrow after latest inflation data
- Federal Reserve Bank of Atlanta President Raphael Bostic is speaking on Monday
- PBOC sets USD/ CNY reference rate for today at 7.1006 (vs. estimate at 7.1499)
- Morgan Stanley bearish on the euro, prefer short EUR/JPY to short EUR/USD
- Morgan Stanley says Federal Reserve will hold rates higher for longer, but then cut deeper
- Weekend oil news - Saudi Aramco said it would cut crude prices to all regions
- ICYMI - Wharton’s Jeremy Siegel says the Dow could surpass 40,000
- Y'all set to spend another week muttering about imminent spot bitcoin ETF approval?
- Goldman Sachs says Q4 US corporate earnings will beat analyst forecasts, may again in 2024
- Trade ideas thread - Monday, 8 January, insightful charts, technical analysis, ideas
- Monday morning open levels - indicative forex prices - 08 January 2024
- A significant step has been taken to avert a US government shut down
Weekend:
- Weekly Market Outlook (08-12 January)
- China 'wealth manager' Zhongzhi goes bankrupt amid property market collapse
- Week Ahead: CPI releases from the US and China are the highlights
- Fed's Logan: We shouldn't rule out rate hike given recent easing in financial conditions
Friday:
Major forex rates traded in a subdued manner. The initial move was for a weaker US dollar, just a few points, but its since reversed. Traders are eyeing US and Chinese inflation data later this week.
USD/JPY managed higher initially but has also since reversed. Traders are awaiting Tokyo inflation data due Tuesday, Japan time. Japanese markets were closed for a holiday today.
Share markets in China and Hong Kong fell further. Over the weekend we had news of another giant property sector related firm going into bankruptcy (Zhongzhi, see bullets above).
There was news from the US, where in Washington DC US congressional leaders agreed on a US$1.6 trillion spending deal. This has the potential to avert the looming partial government shutdown.
Oil prices lost ground. While the risk of supply disruptions due to terrorist attacks on shipping in the Red Sea persist, for today these seemed to be outweighed by the news from the weekend that Saudi Aramco had cut crude prices to its customers globally.
China stocks lower:
