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European indices little changed at the open today
A more tentative mood to kick start the new week
Stocks
China reportedly set to promote Zou Lan to PBOC deputy governor
Zou Lan is the head of the monetary policy department at the Chinese central bank
pboc
What are the main events for today?
Trump's Inauguration is the main event on the agenda
market overview
Switzerland December producer and import prices 0.0% vs -0.6% m/m prior
Latest data released by the Federal Statistics Office - 20 January 2025
CHF
ECB's Holzmann: A rate cut is not a foregone conclusion for me at all
Remarks by ECB policymaker, Robert Holzmann, to Politico
ECB
Eurostoxx futures flat in early European trading
A more tepid mood as we look to get the session underway
Stocks
Forex Today: US Dollar retreats on Trump's Inauguration Day
Here is what you need to know on Monday, January 20: The US Dollar (USD) stays on the back foot to start the week as investors gear up for Donald Trump's second inauguration.
Majors
Currencies
Macroeconomics
EconomicIndicator
Commodities
Germany December PPI -0.1% vs +0.2% m/m expected
Latest data released by Destatis - 20 January 2025
EUR
FX option expiries for Jan 20 NY cut
FX option expiries for Jan 20 NY cut at 10:00 Eastern Time via DTCC can be found below.
Options
Currencies
A quiet one on the agenda to start the week
It is also a US holiday but we have Trump's inauguration to look forward to
economic calendar
ForexLive Asia-Pacific FX news wrap: USD weaker session – no tariff news is good news
Forex news for Asian trading on Monday, January 20, 2025
Session wrap
Wrap Asia
Is the Stock Market Open Today?
Here's what's open and closed for trading today on Monday, January 20, 2025
site news
General
Stocks
Japan Tertiary Industry Index (MoM) (Nov) -0.3% (expected 0.1%, prior 0.1%)
A miss on estimates will not be welcome news for the Bank of Japan.
JPY
Japan data - Industrial Production (MoM) (Nov)-2.2% (expected -2.3%, prior -2.3%)
Final industrial output data from Japan for November 2024
JPY
Trump to declare a National Energy Emergency - will enable him to use new powers
"Drill, baby, drill" to be the catchphrase
Oil
USD/CAD trades with negative bias below multi-year peak, around mid-1.4400s
The USD/CAD pair retreated slightly after touching its highest level since March 2020 during the Asian session on Monday and for now, seems to have snapped a two-day winning streak.
USDCAD
Fed
InterestRate
MiddleEast
Currencies
Reports that a Tesla vehicle on autopilot has crashed into a retail store
In San Francisco
SPX
Nasdaq
USD/INR drifts lower as traders brace for Trump’s inauguration
The Indian Rupee (INR) strengthens on Monday after logging its worst week in 18 months in the previous week.
USDINR
SEO
India
EmergingMarkets
Macroeconomics
China's Vice President Han Zheng meets Musk and also Vance
Han expresses willingness to work with US to enhance China-US relations
Politics
China
Japanese Yen surrenders modest intraday gains against USD ahead of Trump's inaugural speech
The Japanese Yen (JPY) attracts some dip-buyers following an Asian session downtick and stalls its retracement slide from a near four-week high touched against its American counterpart on Friday.
USDJPY
BOJ
InterestRate
Fed
SEO
Its started - the Fed blackout period, that is
There are no Federal Reserve speakers for a couple of weeks ahead
Fed
Trump says he'll sign nearly 100 executive orders within hours of taking office
Trump will take office at noon, US Eastern time, on January 20
Politics
Apple has cut the price of some iPhone models in China - government subsidy announced
A bit of an increase in consumer demand will be the government plan
China
NZD/USD gathers strength to near 0.5600, Trump 2.0 in focus
The NZD/USD pair holds positive ground around 0.5600 during the Asian trading hours on Monday.
NZDUSD
Majors
Macroeconomics
PBOC
2 reasons (and others) Barclays still like USD/JPY
1. The BoJ priced in, and 2. risk surrounding Trump
Recapping Japan’s core machinery orders in November, results exceeding expectations
The Bank of Japan will eye this report favourably. Its not a game changer but another straw on the camel's back.
JPY
PBOC sets USD/ CNY reference rate for today at 7.1886 (vs. estimate at 7.3353)
PBOC CNY reference rate setting for the trading session ahead.
CNY
China Stock Market
China
CNH
pboc
GBP/USD ticks higher on softer USD; lacks bullish conviction and remains below 1.2200
The GBP/USD pair kicks off the new week on a slightly positive note and reverses a part of Friday's decline, though the uptick lacks follow-through or bullish conviction.
Bank of Japan expected to raise rates this week - but there is a hurdle to overcome first
BoJ watching the market's reaction to Trump's inauguration and his actions immediately following
BOJ
JPY
Bank of America survey shows long US dollar is now considered the most crowded trade
Which makes for an obvious headwind.
USD
PBOC is expected to set the USD/CNY reference rate at 7.3353 – Reuters estimate
PBOC CNY reference rate setting for the trading session ahead.
CNY
China Stock Market
China
CNH
pboc
Japan November machine orders rocket higher: +3.4% m/m (expected -0.4%) +10.3% y/y (+5.6%)
A leading indicator of capital spending in the coming six to nine months
JPY
JP Morgan forecasts a PBOC RRR and rate cut after Lunar New Year
And more fiscal support announcements in March
CNY
China Stock Market
China
CNH
pboc
PBOC may cut RRR before the Lunar New Year holiday
First day of the holiday is January 29
CNY
China Stock Market
CNH
pboc
AUD/USD holds below 0.6200 ahead of Trump’s inauguration
The AUD/USD pair weakens to around 0.6190, snapping the two-day losing streak during the early Asian session on Monday.
AUDUSD
Majors
Macroeconomics
Nomura are expecting a March Fed rate cut then a US inflationary shock due to tariffs
Nomura Federal Open Market Committee (FOMC) outlook
Fed
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