- US Treasury Secretary Yellen and Bank of England Governor Bailey to meet Friday
- Eyes are on the US morning Friday - major bank earnings releases.
- BOJ Gov Ueda says again he expects Japan's inflation rate to drop back under 2%
- PBOC sets USD/ CNY reference rate for today at 6.8606 (vs. estimate at 6.8614)
- BOJ Gov. Ueda says he expects global growth to recover after a slowdown period
- PBOC Gov Yi Gang says expects 2023 economic growth in China around 5%
- Fed's Powell and PBOC Gov Yi Gang spoke this week on US & China economy, finances
- Singapore dollar drops - the Monetary Authority of Singapore surprise with on hold decision
- Singapore central bank leaves monetary policy unchanged
- Singapore Q1 GDP (advance) -0.7% q/q (expected -0.2%, prior +0.3%)
- ICYMI: LSE to offer UK's first regulated trading, clearing in BTC index futures, options
- Fitch: More challenging environment for banks in Australia & NZ through remainder of 2023
- NZ finmin Robertson says New Zealand might have a recession, a shallow one
- ICYMI - ECB's Nagel said core inflation is very high, another rate hike coming in May
- New Zealand data - BusinessNZ Manufacturing PMI for March 48.1 (prior 52)
- Bank of Korea Governor says not worried about a specific USD/KRW (won) rate
- Morgan Stanley forecasts S&P500 as low as 3300 by year-end 2023
- Hedge funds used bank crisis to increase exposure to stocks in the financial sector
- Boeing halts delivery of some 737 MAX planes over quality issues
- ICYMI - OPEC forecasts higher oil demand this year - implication is of a large shortfall
- ICYMI: ECB's Wunsch says May decision will be +25 or +50bp, will depend on April inflation
- Trade ideas thread - Friday, 14 April 2023
- Federal Reserve emergency lending fell on the week
- Stocks rally in the face of "overbought" cries
- Forexlive Americas FX news wrap: US dollar sinks after soft PPI
The news of note here during the session was of a regional nature. The Monetary Authority of Singapore, Singapore’s central bank, kept its monetary policy settings unchanged after five straight tightening moves since October 2021. The MAS cited rising global growth risks and ebbing inflation pressure. Further tightening of policy was widely expected (not unanimously though) and the Singapore dollar had risen going into the decision. After the statement SGD was marked lower.
We had remarks reported from Bank of Japan Governor Ueda. He didn't add anything we didn't already know:
- expects Japanese inflation to drop back to under 2% in the second half of this Japanese fiscal year (ie from around September-October)
- said he’ll thus maintain easy BOJ policy
Otherwise news and data flow during the session was light. As mentioned in the headline to this post the US dollar slid a little further.
Asian equity markets:
Japan’s Nikkei 225 +1%
China’s Shanghai Composite +0.07%
Hong Kong’s Hang Seng +0.17%
South Korea’s KOSPI +0.4%
Australia’s S&P/ASX 200 +0.3%
Bitcoin added to its gains:
Elsewhere in crypto ETH/USD hit an 11-month high.
