ForexLive Asia-Pacific FX news wrap: Solid Japan wage data, yen surges higher ...Middle East

Federal Reserve speakers on Wednesday include Barkin, Goolsbee, Bowman, and JeffersonJapan's Akazawa says ambitious goal to boost minimum wage, eradicate deflationary mindsetBOJ official: BOJ sees underlying inflation gradually heading towards 2%The additional US tariffs of 10% will apply to Hong Kong as well as mainland ChinaFX option expiries for 5 February 10am New York cutEuropean Central Bank chief economist Philip Lane is speaking todayYen traders note - BoJ hawk Naoki Tamura is scheduled to speak on ThursdayJapan: robust wage growth bolsters case for Bank of Japan rate hikes - as early as MayUS Postal Service suspends packages from China and Hong Kong until further noticeChina January Caixin Services PMI 51.0 (vs. 52.2 in December)US Central Intelligence Agency offered buyouts to its entire workforce on TuesdayThe People's Bank of China has set the CNY at its strongest since November 8 last yearPBOC sets USD/ CNY reference rate for today at 7.1693 (vs. estimate at 7.2661)BoJ likely to raise ratees higher than most expects says former official Hideo HayakawaNew Zealand data - ANZ World Commodity Price Index +1.8% m/m in January (prior +0.1%)Japan January services PMI 53.0 (prior 50.9)Fed's Jefferson says there is no need to hurry further rate cutsANZ says NZ jobs data don’t stand in the way of RBNZ 50bp cut at meeting on 19 FebruaryTrump says tomorrow more hostages will be releasedTrump says US 'will take over the Gaza Strip'Japan headline wages +4.8% y/y in December, real wages rise alsoMore on the New Zealand jobs data - unemployment hitting a 4 year highMore on Goldman Sachs - China retaliatory measures to have limited impact on energy pricesAustralian (final) January Services PMI 51.2 (prior 50.8)Goldman Sachs - China trade war retaliation measures to have a limited energy price impactJapan's Honda and Nissan may call off merger talksNew Zealand Q4 unemployment rate 5.1% (vs. 5.1% expected and 4.8% in Q3Oil - private survey of inventory shows a headline crude oil build larger than expectedForexlive Americas FX news wrap: US dollar slumps as the trade war dust settlesUS indices close higher on the day led by the Nasdaq/Russell 2000Trade ideas thread - Wednesday, 5 February, insightful charts, technical analysis, ideas

Wage data from Japan today moved solidly higher, bolstering the prospect of a Bank of Japan interest rate hike in the near term. May is firming up for the next rise, hosting the yen. USD/JPY moved more than a big figure lower, toward 153.00, with yen crosses dropping alongside.

Further from Japan, we had:

former Bank of Japan executive Hideo Hayakawa Bank of Japan saying rates are going to move higher than the market expects,Bank of Japan Policy Head Kazuhiro Masaki indicated further rate hikes as underlying inflation accelerated towards the Bank’s 2% goal,economy minister Akazawa spoke of further efforts to boost wages and eliminate Japan’s deflationary mindset.

China returned from its long holiday today. The People’s Bank of China continued to support the yuan, setting the USD/CNY reference rate well below 7.2 again. Traders were not convinced, though, taking CNY weaker towards the top end of the USD/CNY permitted trading band. We had further US tightening of import restrictions:

US Customs said the additional US tariffs of 10% will apply to Hong Kong as well as mainland China,The US Postal Service will temporarily suspend international package acceptance of inbound parcels from China and Hong Kong Posts until further notice. If you are confused by this, alongside the added 10% tariff, the White House announced the end of the century-old de minimis exemption, which had allowed packages valued under $800 to enter the US without duties. This exemption had fueled the rapid growth of Chinese discount retailers like Shein and Temu, enabling them to ship a wide range of low-cost products, one package at a time. That's been halted.

Chinese equities fell.

From New Zealand today we had Q4 employment data showing rising unemployment and a net loss of jobs in the economy. The Reserve Bank of New Zealand next meet on February 19 and the data today keeps the Bank on track for a 50bp interest rate cut.

Apart from the yen moves major FX was bound in small ranges.

As a note on Japanese equities, reports were that Japan's Nissan may call off its merger talks with Honda, according to a person familiar with the matter.

In Middle East news, Trump said the US will take over the Gaza Strip.

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

Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive Asia-Pacific FX news wrap: Solid Japan wage data, yen surges higher )

Also on site :

ForexLive Asia-Pacific FX news wrap: Solid Japan wage data, yen surges higher ...Middle East

Chris Sale relishes return to Fenway Park in dominant start against Red Sox

Local man living with stage four breast cancer shares story ahead of Komen Race for the Cure

Shemar Moore Fights to Keep 20-Squad Together in the Series Finale of 'S.W.A.T.'

10 killed in lightning strike in Odisha

Musk's x AI blames 'unauthorized' tweak for 'white genocide' posts

Toyota anuncia el potente SUV totalmente eléctrico bZ Woodland

Ethan Coen, Wife and Writing Partner Tricia Cooke on Lesbian B-Movies, Trump, Re-Teaming With Joel

Ganja Gardening: Grow Your Own Herb & Veggies

PGA Championship: PGA Tour Pro Rips Michael Block for Insane Excuse

Livvy Dunne Gets Cheeky in Daringly Short Skirt at SI Swimsuit Party

Trump administration drops Biden-era lawsuit against Southwest Airlines

‘S.W.A.T.’: How The Police Drama Starring Shemar Moore Ended After 8 Seasons on CBS

Chris Sale strikes out 8 and leads the Braves to a 4-2 win over the Red Sox

Coco Gauff vs Jasmine Paolini final prediction, betting tips & odds, head-to-head, preview: Italian Open 2025

NYT Mini Crossword Answers, Hints for Saturday, May 17, 2025