ForexLive Asia-Pacific FX news wrap: Awaiting the US jobs report ...Middle East

China's December exports are expected to jump from November - beat the tariffs raceSome chatter about on the potential for AUD/USD to drop under 0.60Toyota unions to aim for higher wages, better conditionsPeople's Bank of China briefing next week - note for the diaryPBoC pauses bond buying - morePBOC sets USD/ CNY reference rate for today at 7.1891 (vs. estimate at 7.3138)ANZ now forecasting a February Reserve Bank of Australia rate cutPBOC pauses government bond purchases in the open marketJapan Eco Min Akazawa: 'critical stage' in eradicating the public's deflationary mindsetUS non-farm payrolls data due today - the critical key ranges for estimates to watchAustralian household spending +0.4% m/m in November (expected +0.7%)Goldman Sachs forecast higher inflation under Trump, but Fed will cut rates anywayJapan November Household Spending +0.4% m/m (expected -0.9%)Potential Interest Rate Cut in Australia: Analysts DividedNavigating Chinese Equities: Challenges and Opportunities AheadGoldman Sachs' three key risks for equities (#3 is a cracker - competition from Bitcoin!)"Trump’s gambit to buy Greenland may sound ridiculous, but it’s not impossible"Canadian PM Trudeau says 'we would definitely respond' if Trump does impose tariffs.US and Denmark lobbied for Greenland's largest rare earths deposit not to be sold to ChinaTrade ideas thread - Friday, 10 January, insightful charts, technical analysis, ideasCrypto Market Slumps for Third Consecutive Day, Bitcoin Drops Below Key Support

Major FX was relatively subdued ahead of the US NFP data later on Friday. USD/JPY consolidated above 158.00

News and data flow were light.

Japanese November household spending data beat, while Australian household spending data for November disappointed.

While on Australia, ANZ changed its Reserve Bank of Australia rate cut forecast to February from May. ANZ and CBA are now both tipping a February 25bp rate cut (the RBA meeting is on the 17th and 18th).

China's central bank announced on Friday that it will temporarily halt treasury bond purchases due to a shortage of supply, leading to a rise in yields across various maturities.

The People's Bank of China (PBOC) stated it would consider resuming bond buying based on supply and demand conditions in the government bond market ahead, but for now have paused buying.This decision follows the PBOC's repeated warnings about bubble risks in China's overheated bond market, where long-term yields have consistently reached record lows.In response to the announcement, yields, which move inversely to bond prices, surged. The 30-year treasury yield rose by five basis points in early trading, while the 10-year yield increased by four basis points.

Offshore yuan also appeared to be waiting for the US data:

This article was written by Eamonn Sheridan at www.forexlive.com.

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