- Exploring the Potential for Further Growth in US Equities
- Euro weakness ahead? JP Morgan hold short on EUR/CHF
- Federal Reserve Bank of Philadelphia President Patrick Harker is speaking Monday
- More on Japan's government considering declaring an end to deflation
- Hong Kong’s property market saw the most sales in a year
- USD/JPY bounced back over 150.20 after old news saw it drop
- US politics - Nikki Haley wins the District of Columbia Republican primary
- Bank of Japan Governor Ueda is speaking Tuesday, Japan time
- PBOC sets USD/ CNY reference rate for today at 7.1020 (vs. estimate at 7.1906)
- Japanese media headline: Japan gov't mulls declaring official end to deflation: sources
- Australian data: January building approvals miss expectations, Q4 inventories slump
- China's Economic Struggles Revealed: Two Sessions Insights
- Australia Melbourne Institute Inflation for February -0.1% m/m (prior +0.3%)
- Keep an eye on US politics on Monday - ruling on Trump insurrection expected
- Japan data - Business capex for Q4 2023 is a huge beat
- Chinese state media warns against cryptocurrency as bitcoin rallies
- Chinese media headline: "China’s top advisory body signals economy is its No 1 priority"
- BoA raise their S&P 500 forecast for 2024 to 5,400, from 5,000 previously
- Its a big week coming up from Federal Reserve Chair Powell - speaking twice: March 6 and 7
- New Zealand data: Q4 terms of trade drop from the previous quarter (export prices plummet)
- Ahead of this weeks ECB meeting, Goldman Sachs says it expects a cut in June (from April)
- Oil - OPEC+ extends output cuts by three months.
- Trade ideas thread - Monday, 4 March, insightful charts, technical analysis, ideas
- Monday morning open levels - indicative forex prices - 04 March 2024
- China to announce economic growth targets on Thursday
- OPEC+ extends voluntary cuts for another quarter
- Weekly Market Outlook (04-08 March)
- Newsquawk Week Ahead: US NFP, ECB & BoC rate decisions, Japan wage data
USD/JPY dropped under 150 on (not new) news that Japan's government is considering declaring an end to deflation. The trip under 150 was reversed though, with USD/JPY bouncing easily back to just above 150.20. Its not far from there as I update.
Elsewhere meek ranges prevailed.
From Australia today we had poor Q4 data. A slump in inventories looks set to slice around a full percentage point from Q4 GDP data (due Wednesday local time) and the prospect of a negative q/q (i.e. contraction in the economy) reading is gaining ground. In other data a private survey of inflation came in lower in February. AUD/USD is close to its session low as I post
Oil popped a little higher on the open of the week’s trade with news over the weekend that OPEC+ was extending its output cuts through to June.
Bitcoin rose above US$64K.
Regional equities rose. Japan’s Nikkei 225 hit another record high above 40,000 level. The last time the index got close to 40K was 34 years ago. Japan’s Topix hit a record high on Friday. In China the ‘Two Sessions’, annual plenary sessions of the National People's Congress and of the Chinese People's Political Consultative Conference, got underway. This lasts until March 11. Chinese authorities will intervene, if necessary, to support stocks while this event takes place. As I post both the Shanghai Composite and CSI300 are higher on the day, albeit only slightly. TSMC and other chip/hardware stocks rose strongly.
