[ad_1]
China reopening rumours (read from the bottom up for the chronology):
Also:
Chinese
shares and China-proxy FX (AUD, NZD) rose during the session here on
market chatter that Chinese authorities would soon abandon their
‘zero’ policy. The chatter seems to have blossomed from this
overnight:
It
spread further in the region today. There is a State Council ( the
Joint Prevention and Control Mechanism of the State Council) news
conference on COVID scheduled for 3pm Beijing time, which is 0700
GMT.
Also
notable from China today were the large police presence dissuading
further protest and also mover moves from authorities to support
property developers. Both of these were a tailwind for Chinese stocks
also.
As
an aside, China’s new daily Covid infections dropped for the first
time in more than a week, according to official data.
On
the data front Japan was the focus. Job availability
rose for the 10th month in October. This
is indicative of further
labour-market
tightness ahead
that should
keep
upward pressure on wages. As
a slight offset, the unemployment rate ticked up by 0.1% to 2.6% in
October.
Central
bank-speak was from Federal Reserve Richmond branch president Barkin,
who made very hawkish noises indeed (see bullets above).
Shanghai Composite:
[ad_2]
Read More: ForexLive Asia-Pacific FX news wrap: China reopening rumours swirling | Forexlive
