| 7 Dec 2023 |
01:57 |
USD/JPY - 146.90... Reuters reported Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will face an "even more challenging" situation in the year-end and start of next year, in response to a question about the economy and guidance of monetary policy.
"The situation remains challenging and it will become even more challenging towards the year end and next year," Ueda told parliament, responding to a lawmaker's question about his aspirations in leading the central bank.
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| 6 Dec 2023 |
06:05 |
USD/JPY - 147.20... Reuters then reported Bank of Japan Deputy Governor Ryozo Himino said on Wednesday he did not have any preset schedule or prediction in mind on how soon the central bank could exit ultra-loose monetary policy.
In a news conference in the southern Japanese city of Oita, Himino also said it was inappropriate to set in advance the sequence for ending various monetary easing tools the central bank currently has in place.
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| 6 Dec 2023 |
05:46 |
USD/JPY - 147.21... Reuters news, BoJ's Deputy Governor Himino says :
- don't have preset schedule in mind on exit from easy policy
- inappropriate to set in advance sequence of ending various monetary easing means
- aside from wage, price moves, must look at consumption, capex, overseas developments as among factors in deciding when to exit easy policy
- we will have to make a decision at some point while looking at mixed batch of signals coming out from economy
- not confident to say precisely by how much we are close to sustainably achieving our price target
- there is a chance the side-effects of easy policy may diminish upon an exit
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| 6 Dec 2023 |
01:55 |
USD/JPY - 147.25... Reuters then reported Bank of Japan Deputy Governor Ryuzo Himino said on Wednesday Japan was making progress in moving away from a prolonged period in which wage and price growth remained stagnant.
He also said in a speech that the central bank must make an "appropriate decision" on the timing for ending Japan's ultra-loose monetary policy, with a close eye kept on wage and inflation developments.
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| 6 Dec 2023 |
01:35 |
USD/JPY - 147.25... Reuters news, BoJ's Deputy Governor Himino says :
- BoJ will patiently maintain easy policy until sustained, stable achievement of price target is in sight
- Japan's financial system is likely resilient enough to weather stress from transition to higher interest rates
- must make appropriate decision on exit timing, procedure by scrutinising wage, inflation developments
- if we do not get the timing exit, procedures wrong, the impact of a positive wage-inflation cycle will likely benefit wide range of households, companies
- BoJ must achieve situation where inflation slows ahead, but not too much
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| 6 Dec 2023 |
00:56 |
AUD/USD - Reported Australia's economy barely grew in the third quarter as households cut back on spending and exports flagged, leaving government and business investment as the only bright spots in a sign that high rates were working to cool demand.
Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) rose 0.2% in the September quarter, short of forecasts of 0.4% and the slowest growth in a year.
Annual growth was actually firmer than expected at 2.1%, though only because past GDP was revised higher.
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| 5 Dec 2023 |
09:02 |
EUR/USD - 1.0834... Reuters reported the downturn in euro zone business activity eased last month but still indicates the bloc's economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed.
A PMI for the services sector rose to 48.7 from October's 47.8.
"The service sector maintained its downward slide in November. The modest improvement of the activity index does not leave much room for optimism regarding a swift recovery in the immediate future," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
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| 5 Dec 2023 |
08:52 |
EUR/USD - 1.0829... Reuters reported activity in France's dominant services sector remained weak in November as demand fell at its fastest pace in three years, a survey showed on Tuesday, adding to recession fears in the euro zone's second-biggest economy.
The HCOB France final purchasing managers index (PMI) for the services sector, compiled by S&P Global, stood at 45.4 points in November, almost on par with a flash estimate of 45.3 points and still well below the 50 level that marks growth. The index in October came in at 45.2 points.
A sub-index measuring new business intake slipped to 43.2 points, the worst reading since the height of the COVID-19 pandemic in November 2020.
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| 5 Dec 2023 |
08:51 |
EUR/USD - 1.0831... Reuters reported the Italian services sector contracted for a fourth consecutive month in November, albeit at a slower rate than the month before, a survey showed on Tuesday, signalling persistent weakness in the euro zone's third-largest economy.
The HCOB Purchasing Managers' Index (PMI) for Italian services came in at 49.5 in November, up from October's 12-month low of 47.7 but still below the 50 level that marks growth in activity.
The result was above the median forecast of 48.2 in a Reuters survey of analysts.
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| 5 Dec 2023 |
06:44 |
EUR/USD - 1.0835... Some news worth noting, media sources reported comments from ECB's Schnabel, who says :
- further rate hikes "rather unlikely" after lastest inflation data
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| 5 Dec 2023 |
03:30 |
AUD/USD - 0.6601...Reuters news, RBA leaves its interest rate unchanged at 4.35% as widely expected.
Reuters then reported Australia's central bank held interest rates steady on Tuesday as expected, while reiterating the run of coming economic data would determine whether a further hike might be needed at some point.
Wrapping up its December policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, having lifted them by a quarter point the previous month.
Markets had wagered heavily on a steady outcome given inflation had eased a little more than expected in October and the full pain of the RBA's tightening was spreading through the economy.
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| 5 Dec 2023 |
01:46 |
USD/MAJORS - Reuters reported China's services activity expanded at a quicker pace in November, a private-sector survey showed on Tuesday, as the upturn in new businesses were the best seen for three months amid reports of firmer market conditions.
The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures.
The Caixin/S&P Global services purchasing managers' index (PMI) rose to a three-month high of 51.5 in November from October's 50.4, but it remained softer than the long-run series average.
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| 5 Dec 2023 |
00:39 |
USD/JPY - 147.00.... Reuters reported Japan's service activity expanded at the slowest pace in a year in November, weighed by an accelerating decline in new exports and softer demand, however, the outlook for the sector remained upbeat, a business survey showed on Tuesday.
The service sector has been a bright spot for the world's third-largest economy, helping offset the drag to growth from struggling manufacturing.
The final au Jibun Bank Service purchasing managers' index (PMI) slipped to 50.8 in November from 51.6 in October, according to index publisher S&P Global Intelligence.
The index was below the flash reading of 51.7 but remained above the 50.0 threshold separating expansion from contraction.
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| 4 Dec 2023 |
08:58 |
EUR/USD - 1.0865... Reuters then reported European Central Bank Vice President Luis de Guindos on Monday said recent inflation data in the euro zone was good news and "a positive surprise."
Euro zone inflation tumbled to 2.4% last month, coming well below expectations for the third straight month, fuelling market bets that European Central Bank interest rates will come down much quicker than the bank now guides.
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| 4 Dec 2023 |
08:52 |
EUR/USD - 1.0867... Reuters news, ECB's de Guindos says :
- recent inflation data is good news, it's been a "positive surprise"
- but it is too early to declare victory
- increase in wages can still have an important inflationary impact
- our monetary policy stance will be data-dependent, we will move from meeting to meeting
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