- got oil? Warren Buffett’s Berkshire Hathaway went on a frenzied buying spree of Occidental shares.
- Barclays believes that market expectations for Fed rate cuts are too aggressive
- ICYMI – US Treasury Secretary Yellen said more work is needed to control inflation
- Here’s what to watch for a severe surprise in today’s US CPI data
- China encourages foreign nationals to come to the country
- Richmond Fed President Thomas Barkin expects his speech to come today
- The OECD Secretary-General expects that wage pressures will keep inflation around the Bank of Japan’s target level
- The People’s Bank of China sets the central exchange rate for the US dollar against the Chinese yuan at 7.1087 (versus the estimate of 7.1667)
- The OECD urges the Bank of Japan to gradually raise short-term interest rates
- China has banned the import of pigs and pig products from Bangladesh
- The Bank of Korea leaves interest rates unchanged at 3.5%, as expected
- US Consumer Price Index data scheduled to be released on Thursday, January 11, 2024 – Preview
- Australian trade data for December: exports +1.7% m/m while imports -7.9%
- There are no hints of Bank of Japan yen intervention in the data
- Biden supports legislation that would allow him to seize about $300 billion in frozen Russian assets
- BTC/USD Price Rising, Who Lets the Dogs Out?
- ECB’s De Cos hints at urgent interest rate cuts – inflation will continue to decelerate, growth will slow
- US stocks beat machine learning estimates, price 110%
- New Zealand building approvals data shows a huge drop over the month, and it’s terrible numbers
- Forexlive Americas FX News Brief: Bitcoin ETFs Approved, Will Start Trading on Thursday
- Fed’s Williams: The Fed is in a “good position” and has time to think about what’s next for interest rates
- Bank of Japan ‘fully prepared’ to end negative interest rates in April 2024 – former BOJ official
- SEC Chairman Gensler Says He Doesn’t Approve or Endorse Bitcoin; A speculative and volatile asset
- Trade Ideas Topic – Thursday, January 11, Insightful Charts, Technical Analysis, Ideas
The US dollar added to its losses on Wednesday during the session here in Asia today. The Australian dollar, the New Zealand dollar, the Canadian dollar, the British pound, gold, the euro (although a little late) and even the troubled yen rose against the big dollar. Late afternoon news came out in the US about the administration’s efforts to seize some of the US$300 billion in frozen Russian assets, adding to the dollar supply.
The flow of news and data was weak. There was a significant decline in Australian imports in December, which does not indicate that the economy is operating at full capacity.
However, there were elements from China:
- China intends to relax some visa requirements to make it easier for foreigners to travel for work, education and tourism. This appears to be a move to boost the economy.
- The People’s Bank of China has approved loans for collective housing rentals totaling 100 billion yuan
- Moreover, regarding the People’s Bank of China (PBoC), it has resisted the yuan’s weakness when setting its benchmark interest rate today, with a wide gap to estimates since November. This means that it was the strongest reform (of the Chinese yuan) compared to estimates since November.
The offshore yuan rose, CNH.