The move is said to be part of China’s plan to normalise air travel. This fits with the ongoing rhetoric that China is looking to take a step back from its zero-Covid policy, even if it is going to be a gradual process. Risk trades are spiking on this with.
The dollar is on the backfoot as we look towards European trading but all the focus and attention will be on the US jobs report later, to determine the mood before the weekend. The greenback has enjoyed a solid post-Fed run alongside higher bond yields, while equities have struggled. For.
The dollar is giving back a decent chunk of its post-Fed advance on the day so far, as markets are retracing some of the moves from the past few sessions. There’s not much in the headlines driving the drop in the dollar today, with it just looking like a bit.
It’s a bit of a controversial time for the meeting to take place but one can figure what this is really all about in just one glance. As much as Europe would like not to admit it, China remains a key pillar for the economy as a trading partner and.
Session wrap Forex news for Asian trading on Friday, 4 November 2022 Goldman Sachs expect US nonfarm payrolls at +225K Australian Q3 retail sales data out earlier showed sales growth slowing notably Nomura not optimistic on China dialling back zero COVID any time soon Media reports of China’s new stealth.
NPF data is due Friday, 4 November 2022. Goldman Sachs estimates include: nonfarm payrolls rose by 225k in October unemployment rate unchanged at 3.5% average hourly earnings +0.35% m/m & +4.7% y/y GS cite: Labour demand remains elevated despite declining this year Big Data indicators generally point to above-consensus payroll.
We get monthly retail sales data from Australia, so the quarterly data often sails by barely noticed. Much like today. Real retail sales (i.e. ex-inflation) +0.2% q/q and +10% y/y (this is a reopening flow-through) from prior +7.5%. AUD/USD is up alongside other FX with the small unwind of the.
Posting this with the caveat that, and no offence to Nomura, anyone thinking they know what’s going on in China’s Politburo is likely to be overconfident. Anyway, snippet via Nomura on the speculation of Xi relaxing his zero COVID policy around March next year. This was the social media scuttlebutt.
Japan Times with a piece that fits with incremental reports being received out of China, where media is tightly controlled. Local officials, under pressure to implement Chinese President Xi Jinping’s strict “COVID zero” policy with less impact on society and the economy, are instead trying to stay under the radar,.
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Jibun Bank – S&P Global / Markit final PMIs from Japan for October: services 53.2 preliminary was 53.0 and prior (September) was 52.2 composite 51.8 prelim 51.7, prior 51.0 Comments from the report, inflation pressures noted (looks to me like the the conditions for a BOJ easing back on its.
Due on Friday is the October US jobs report: Snippet preview via TD, who are forecasting +220K and a 3.7% jobless rate. also forecasting wage growth to accelerate to 0.4% m/m, but to slow to 4.7% on a y/y basis USD should trade in the direction of the data, though.