- Severe pneumonia outbreak in China overwhelms hospitals in two cities
- New Zealand incoming PM Luxon says agreement reached to form government
- China's state planner says it will step up regulation of iron ore futures, spot trading
- Heads up for Japanese inflation data due Friday. Will be way above target, again.
- RBA Governor Bullock discusses inflation challenges and monetary policy response
- European Central Bank speakers Thursday include Schnabel - policy hints?
- PBOC sets USD/ CNY mid-point today at 7.1212 (vs. estimate at 7.1512)
- The US dollar is losing some ground in Asian morning trade.
- Australia has announced plans for even more fiscal spending
- World's biggest producer of newly mined gold will adhere to anti-money laundering laws
- UBS predicts earlier than expected rate cuts as traders ignore central bankers
- OPEC technical panel heard a concerning bearish outlook for the oil market
- The OPEC+ meeting, originally scheduled for November 26, has been delayed to November 30
- Car explosion at US-Canada border crossing Rainbow Bridge: Terrorism ruled out
- Germany halts Inflation-linked bond sales. Does this mean inflation is under control now?
- Australian preliminary PMI for November: Manufacturing 47.7 (prior 48.2)
- Crypto industry has spent US$20mn on lobbying so far in 2023: Coindesk Report
- Dutch anti-EU populist Wilders' far-right Freedom Party (PVV) set for big election win
- Trade ideas thread - Thursday, 23 November, insightful charts, technical analysis, ideas
- SpaceX, Musk's company, reportedly planning to sell shares at a $150bn valuation in Dec,
- Rebounding UK debt market defies expectations, says DMO CEO
- Large outbreak of pneumonia in China, pediatric hospitals in Beijing, Liaoning overwhelmed
- Stocks, CME (futures) and SIFMA (cash interest rates) Thanksgiving holiday trading times
- Forexlive Americas FX news wrap 22 Nov: Michigan inflation expectations remain elevated.
There was some USD weakness during the session with gains across major FX. Japanese markets were closed for the Labor Thanksgiving Day holiday and US markets will be closed also on Thursday for the Thanksgiving holiday.
News flow was light. Dutch anti-EU far-right populist Geert Wilders won the most seats in the election, with 35 out of 150 seats, 9 seats ahead of the closest rival. This is a greater margin than was expected. Wilders is expected to try to form a right-wing coalition government with the VVD and new party 'New Social Contract'. It won't be smooth sailing though, both parties have said they have serious doubts about working with Wilders. Many pundits express scepticism that Wilders can become PM. I’m not in touch with Dutch political machinations so will leave the intricacies to those who are, but will say the better than expected performance will be an encouragement for other far-right populist politicians in Europe and more widely. As I said above, though, EUR bounced alongside a broadly weaker US dollar.
The suspected terrorist attack on the US-Canada border crossing on Wednesday has since been shown to be a tragic traffic mishap. The FBI has handed over the investigation to local authorities.
China's state planner, the National Development and Reform Commission of the People's Republic of China (NDRC), said it’ll be ramping up regulation of iron ore trading. AUD came off its session highs on the headline.
New Zealand is expected to swear in new PM Luxon on Monday. The election was back on October 14 but the NZ system can leave results in the wind for some time. Obviously.
Finally, and I hope of no relevance whatsoever going forward, a major outbreak of pneumonia in China has reportedly overwhelmed paediatric hospitals in Beijing and Liaoning.
Happy Thanksgiving to those celebrating!
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