- RBNZ advise of two speeches to come from Governor Orr next week
- Yen intervention - Japan's MoF is in for a long fight
- Goldman Sachs Bank of England forecasts: 75bp hikes in November & December
- PBOC sets USD/ CNY reference rate for today at 6.9920 (vs. estimate at 7.0080)
- Japan earthquake felt in Tokyo
- Nomura cuts its China economic growth forecast further, 2023 GDP projection now to 4.3%
- The PBoC USD/ CNY setting is expected above 7 today
- Goldman Sachs on lack of confidence at the Fed & what'll happen if "something goes wrong"
- Australian data shows that inflationary pressures have eased significantly, 7-month lows
- UK September Consumer Confidence has fallen to a record low
- Australian preliminary PMI (September): Manufacturing 53.9 (prior 53.8)
- UK government anti-money laundering and anti-fraud legislation aimed at cryptocurrency
- ICYMI - Japan will further ease COVID-19 border control requirements in October
- What to expect when you're expecting (9 months of yen intervention ahead)
- US State Department senior official says we have hit a wall on the Iran nuclear deal
- South Korea's August PPI has fallen m/m, its first decline since October 2020
- MUFG is looking for GBP/USD to drop towards 1.10 over coming weeks
- Trade ideas thread - Friday, 23 September 2022
- Nasdaq index leads the stock declines today. Selling into the close.
- Forexlive Americas FX news wrap: Today had everything
After Thursday’s wild moves, especially in yen, major FX in Asia took a bit of a breather. USD/JPY fell back under 142.00 from highs above 142.50 early in the piece. It was a holiday in Japan today and while that doesn’t guarantee a quiet session its what we got today. Japan’s Ministry of Finance would have been on guard for a resurgent USD/JPY but it has not eventuated and so we have not seen any official jawboning nor intervention during the session here.
Elsewhere across major FX there has been a minor US dollar bid pretty much across the board. Eur, AUD, GBP, NZD are all a few points lower but none are troubling technical levels within the tight ranges we have had.
Regional equities have dropped, taking their lead from a lower Wall Street on Thursday.
Oil and gold are a touch softer also.
Data releases were very much lower tier and news flow was light.
On the central bank front, the only point of note was a yet again weaker mid-rate for the onshore yuan from the People’s Bank of China. The Reuters estimate was above 7 but this was not realised, the PBoC holding USD/CNY under that big round number psychological level at the fixing. Market trading of USD/CNY and USD/CNH is above 7 regardless.