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💱 The dollar remained steady as a soft U.S. jobs report boosted bets that the Federal Reserve may still cut rates twice this year.

🇯🇵 The yen weakened to 153.62 per dollar in early trading, following suspected interventions by Japanese authorities.

🇨🇳 The offshore yuan was at 7.1959 per dollar, gaining more than 1% last week.

📉 U.S. job growth slowed more than expected in April, raising hopes for a ‘soft landing’ for the economy.

💱 The yen soared against the U.S. dollar, suspected to be due to Japan’s monetary authorities’ intervention.

📉 The U.S. dollar fell after the Fed signaled a leaning toward eventual reductions in borrowing costs.

📊 The next major economic indicator will be Friday’s jobs report for April.

🪙 In cryptocurrencies, Bitcoin rose 0.8% to $57,708.

Happy Labor Day everyone! Thank you for your tireless work. Now kick back, relax, and enjoy your day off. You’ve earned it!

📢 Star Entertainment’s Chairman David Foster steps down after just over a year in the role. The Australian casino operator faces an exodus of senior management.

🎰 Anne Ward takes over as chair. The company is under a second inquiry into its Sydney operations.

📉 Oil prices dip slightly due to easing Middle East tensions and mixed U.S. inventory data. Brent oil futures fell 0.2% to $87.88 a barrel, while West Texas Intermediate crude futures fell 0.2% to $82.66 a barrel.

🛢 U.S. oil stockpiles shrank by 6.4 million barrels, but distillate stockpiles saw an unexpected rise.

🌍 The market is less worried about a full-scale war between Iran and Israel, reducing the risk premium on oil.

🚫 Salesforce (NYSE:CRM) has halted talks to acquire data-management firm Informatica due to disagreement on terms. The deal could have been one of Salesforce’s biggest acquisitions.

💰 Informatica, valued at about $11.2 billion, offers cloud-based data management services.

📉 Amid scrutiny from activist investors, Salesforce has implemented cost-cutting measures and increased share buybacks.

“📉 Australian employment fell by 6,600 in March, following a huge gain in February. Despite this, full-time employment rose by 27,900.

The jobless rate also increased slightly to 3.8%. This suggests the hot labour market is set to cool down.

🏢 China Vanke, backed by the state, is facing liquidity and operational challenges. However, they’ve prepared plans to stabilize their business and reduce debt.

🤝 Vanke has the support of Shenzhen’s state assets regulator and its largest shareholder, Shenzhen Metro.

🏠 Despite the difficulties, Vanke promises to complete projects and deliver apartments on time.

💰 Last week, Vanke’s shares and bonds took a hit after S&P downgraded its investment-grade status and an executive investigation was confirmed.

The U.S. Senate Commerce Committee will host a hearing on Boeing's safety culture next week.

😬 This follows a crisis sparked by a mid-air incident on a 737 MAX 9.

🛫 Experts will testify, highlighting safety concerns after previous crashes. The FAA ordered Boeing to address quality issues.

Later, a whistleblower will testify on Boeing's alleged safety lapses. Boeing defended its aircraft quality. ✈

Wishing you a blessed Eid with family and friends. Selamat Hari Raya!

Australian supermarkets could face up to A$10M fines for unfair treatment of suppliers and growers 🌾.

A government review proposes a mandatory grocery code of conduct 📜.

Major supermarkets won’t be forced to divest assets to improve competition 🏪.
PM Albanese supports fair prices for farmers and families 👨🌾👪.

📈 The Euro gained against the dollar, but faces challenges as the European Central Bank (ECB) hints at a rate cut as soon as June.

💶 EUR/USD rose 0.63% to $1.0837. Despite this, it’s still difficult for the Euro to rally against the dollar.

🏦 ECB Governor Christine Lagarde suggested that if inflation data continues to show slowing price pressures, the bank could make policy less restrictive.

📉 Recent EU economic data shows a trend of slowing inflation, with Euro area inflation slowing to 2.4% from 2.6% in March.

🗣 Austrian policymaker Robert Holzman didn’t object to easing in June, but wants to see the data first.

🇺🇸 In contrast, U.S. inflation has surprised to the upside, but this allows the ECB to be more dovish, keeping the dollar strong against the euro.

📅 The dollar’s strength will be tested with the release of the March CPI inflation report due Apr. 10.

Japan’s Finance Minister, Shunichi Suzuki, is keeping a close eye on the yen! He’s noticed some currency market moves that don’t line up with the real economic picture and is ready to take action if things get too wild.

Despite the Bank of Japan saying goodbye to negative interest rates, the yen’s been slipping, even hitting a 34-year low against the dollar. But don’t worry, Japan’s got its eye on the ball and won’t let the yen just drift away.

Suzuki’s playing it cool and not spilling the beans on his expectations, but he’s clear on one thing: stable and sensible currency moves are the goal. 🎯

After a quick huddle last Wednesday, the yen’s started to bounce back. Looks like Japan’s not afraid to step in when the currency waters get choppy!

📉 Core inflation in Tokyo slowed in March, indicating price pressures from raw materials, not robust demand.

🏭 Factory output unexpectedly fell by 0.1% in February, reflecting disruptions, especially in auto manufacturing.

📈 Bank of Japan cautious on further interest rate hikes despite ending negative rates, citing signs of weak consumption.

💼 Big firms offering higher pay, but rising living costs challenge household budgets, impacting spending.

📊 Japan's economy expanded by 0.4% in Q4 2023, driven by capital expenditure amid consumption weaknesses.

💹 The dollar is strong, keeping the yen near a multi-decade low. However, Japan’s authorities might intervene to prevent further yen decline. 🇯🇵

The yen is at 151.25 per dollar, close to a 32-year low of 152. 📉

Despite the Bank of Japan’s recent interest rate hike, rates in Japan are expected to stay low, maintaining rate differentials with the U.S. 🏦

Global rate outlook shifts have revitalized the dollar, with expectations that the Fed will keep rates higher for longer. Meanwhile, bets for a June rate cut by the ECB and BoE have risen. 🌐

The euro and sterling are under pressure, while the Australian and New Zealand dollars are also down, partly due to a slide in the yuan. 🌏

The yuan has been weakened by expectations of further monetary easing to support China’s economy. 🇨🇳

📈🇦🇺 Big news from Down Under! Australian employment saw a sharp rebound in February, with the jobless rate dropping to 3.7%. This suggests the labour market is still tight and recent weakness may have been overstated.

💼 The Australian Bureau of Statistics reported a net employment jump of 116,500 in February, the biggest monthly gain in 10 years!

💰 The Australian dollar rose 0.5% to $0.6622, and markets trimmed the expected interest rate easing for the year from the Reserve Bank of Australia.

🔍 Despite the strong figures, experts caution that the labour market is expected to loosen in the coming months. But for now, it’s a positive sign for the Australian economy.

📈 China’s industrial output grew 7.0% in Jan-Feb 2024, beating expectations and marking a strong start to the year.

🛍 Retail sales rose 5.5%, slightly slowing down from December.

🏗 Fixed asset investment expanded 4.2%, surpassing expectations.

The U.S. dollar is steady as traders await more data for clues on Federal Reserve policy. Concerns about inflation have reignited, with a 65% chance of a rate cut in June. The Fed is expected to hold rates steady next week, with focus on updated economic projections.

The dollar index is mostly flat at 102.77. Markets are watching for U.S. retail sales data, PPI report, and jobless claims for signs of economic slowdown.

Against the yen, the dollar is at 147.69 yen. Japan’s central bank may end negative rates next week if wage talks yield strong results.
The euro is steady against the dollar at $1.0949. Sterling is flat at $1.2796.

In crypto, bitcoin is down 0.28% to $72,950.00, and Ether fell 0.03% to $3,991.00. Stay tuned for more updates! 💱📉📈

The yen is gaining strength against the dollar, with signs that the Bank of Japan may exit negative interest rates next week. 📈

The dollar index is near a two-month low, and the sterling has pulled back from a multi-month high. The greenback is easing against the yen, heading back towards a five-week low. 💱

Meanwhile, the dollar index could face a deeper setback, and the sterling slumped but still closed out last week with a surge. The euro remained steady after a jump last Friday. 🌐

In the crypto world, Bitcoin is slightly down, hovering below its record peak. 📉

The U.S. dollar is holding strong, up nearly 2.5% this year. This strength is due to a robust U.S. economy and delayed expectations for Fed rate cuts. 💪💵

However, the market is divided on the dollar’s future. While some expect it to hold steady, others predict a slight weakening over the next three months. 🤔

Looking ahead, the euro is expected to gain 3.0%, and the yen could rise over 9.0% in the next year. The Aussie and Kiwi dollars are also predicted to bounce back. 🌍💶🇯🇵💴🇦🇺💲🇳🇿💲

📢 China’s Economic Outlook 2024: Premier Li Qiang announces a target of around 5% economic growth this year. The focus is on transforming the development model, curbing industrial overcapacity, managing property sector risks, and reducing local government spending. 🏗🏦

Despite a similar growth target as last year, achieving it will require stronger government stimulus as the economy still heavily relies on state infrastructure investments. 📈💰

Post-COVID recovery has exposed structural imbalances in China’s economy, from weak household consumption to lower returns on investment. This has led to calls for a new development model. 🔄🆕

With a property crisis, deepening deflation, a stock market rout, and mounting local government debt, China’s leaders are under pressure to respond. 🏠💹📉

China plans a budget deficit of 3% of economic output, down from 3.8% last year, and intends to issue 1 trillion yuan ($139 billion) in special ultra-long term treasury bonds. 🏦💵

The aim is to create over 12 million urban jobs this year, keeping the jobless rate at around 5.5%. 🏙👩💼👨💼

China will continue to invest in tech innovation and advanced manufacturing, aligning with President Xi Jinping’s push for “new productive forces”. 🖥🔬🏭

📣 The Japanese yen is making a comeback! 📈 It strengthened sharply against the dollar after a Bank of Japan (BOJ) member called for an overhaul to the bank’s ultra-dovish policy.

BOJ board member Hajime Takata believes it’s time to consider an exit from the bank’s ultra-loose policy and even raise interest rates. 🏦💡
This news has sparked speculation that the BOJ might be close to ending its massive stimulus program, which could be good news for the yen. 🎉

However, the Japanese economy’s recent weakness casts some doubt over these plans. The economy unexpectedly entered a recession in Q4 of 2023. 😕

📈 The dollar is strong ahead of a week filled with key economic releases. U.S. inflation reading is in the spotlight with a 0.4% monthly increase expected. Inflation figures from the euro zone, Japan, and Australia are also due this week.
🏦 RBNZ rate decision and China’s PMI readings are on the radar.
💱 The dollar edged higher, pushing the euro and the kiwi down.
🇯🇵 Japan’s inflation data could complicate BOJ’s plans to end negative interest rates.
📉 Markets price in a 20% chance of Fed easing rates in May.

📉 Japan’s factory activity continues to decline, and service sector growth slows down in February. The manufacturing PMI fell to 47.2, indicating contraction for the 9th consecutive month.

🏭 Manufacturing production shrank at its fastest pace in a year due to a sharp reduction in new orders. Employment also saw a significant slump.

📈 However, the services PMI remains in expansionary territory at 52.5, with new business growth at its highest since August last year.

🔍 Overall, the composite PMI, which combines manufacturing and service sector activity, eased to 50.3 in February.

📰 Recent surveys show a sharp drop in business morale among Japanese manufacturers, adding to concerns about further economic declines.

🌍 Japan’s economy slipped into recession in Q4 of last year, losing its title as the world’s third-largest economy to Germany.

📈 China’s domestic share markets saw a rise as trade resumed post-Lunar New Year, with signs of consumer spending surpassing pre-COVID levels! 🎉 The CSI 300 index and Shanghai Composite index rose by 0.5% and 0.9% respectively. 🚀
However, concerns remain about the underlying economy’s sluggish growth and the sustainability of this recovery. 🤔 Despite these gains, local indexes are still near multi-year lows.

Economic indicators for January showed weak business activity and a persistent deflationary trend. 😕 Investors are calling for more policy support from the government.

South Korea is launching a $56.97 billion support program to help businesses impacted by high interest rates. This includes $11.2 billion in low-interest loans for key industries like semiconductors and batteries, and $15 billion to aid small and medium-sized businesses.

The move aims to shift banks’ focus from consumer financing to supporting companies. The initiative responds to new challenges posed by evolving trade relations, technological advancements, and global supply chain fragmentation. Companies struggling with liquidity due to high interest rates will also receive temporary interest rate cuts.

Wishing you luck, love, and health this Chinese New Year. ✨

📈 Asian stocks are on the rise, with Chinese markets rebounding on hopes of more government support. Wall Street also closed strong, bringing U.S. stock indexes close to record highs.

🇨🇳 Chinese stocks, recovering from multi-year lows, saw a boost from Central Huijin’s pledge to buy more local ETFs.

🌏 Broader Asian markets advanced, with South Korea’s KOSPI hitting a one-month high. Australia’s ASX 200 is nearing a record high, while Japan’s Nikkei 225 dipped slightly.

🚗 Toyota surged to a record high after forecasting record profits.

🇮🇳 India’s Nifty 50 index is looking at a positive open. Stay tuned for more updates!

🚀 India’s stock markets are now the 4th largest globally, surpassing Hong Kong! As we head towards elections, foreign investors are eyeing India as a promising alternative to China’s markets. 🌏

Investors can enter via the Foreign Portfolio Investment (FPI) route, with over 10,800 FPIs already in play. 📈 There’s a 10% cap per listed company for FPIs, and all transactions are taxed similarly to domestic investors.

SEBI mandates custodian banks to disclose investor details, enhancing transparency. 🏦 Non-resident Indians also have a piece of the action through the portfolio investment scheme.

For those who prefer not to register with SEBI, offshore derivatives or participatory notes are an option. 🌐

India’s market is open and growing!

📈 The dollar is gaining strength against the euro as traders anticipate the Federal Reserve may delay a rate cut. The odds of a March rate cut have dropped to 48% from 89% a month ago.

🏦 Meanwhile, the European Central Bank is holding interest rates at a record-high 4% and may start easing borrowing costs in the summer.

💶 The euro dipped to its lowest since Dec 13.

🌍 Geopolitical risks are on the rise, which could boost the safe-haven yen. Stay tuned for more updates!