US non-farm payrolls data – the critical key ranges for estimates to watchJP Morgan favour gold and Bitcoin – the “debasement” tradeHeads up for ECB speakers on Friday – Buch, Escriva, Centeno, de GuindosStandard Chartered says Bitcoin not a safe haven against geopolitical risk – gold isBank of England Chief Economist Huw Pill to speak on “What’s next for the UK economy?”FX option expiries for 4 October 10am New York cutJapan economy minister Akazawa says aims to overcome deflation under Ishiba’s leadershipAustralian housing finance data, August 2024: Home loans +0.7% m/m (prior +2.9%)Japan finance minister Kato wants to boost support for low-income householdsGoldman Sachs preview US nonfarm payroll data Friday, October 4: +165K /jobless rate 4.2%Japan chief cabinet secretary Hayashi – PM Ishiba wants a comprehensive economic packageJP Morgan say a 2nd Trump Presidency would be “more interesting” for Fed independenceMore on the end of the US dock strike – over for now anywayUK vehicle traders and manufacturers want strong fiscal incentives from governmentAUD/USD forecast to 0.71 this quarter – China stimulus, RBA rates among reasons for bidUS dock workers agree to return to work – postpone strike actionU.S. port employers are preparing almost 62% pay increase offer to striking dockworkersReserve Bank of New Zealand rate cut next week, 97% chance of a 50 basis pointsConsensus for an October European Central Bank rate cut basically locked inBitcoin price little changed on news of Satoshi Nakamoto name revealBitcoin creator Satoshi Nakamoto has been identified – will be revealed in a TV show!US major stock indices move lower ahead of the US jobs reportTrade ideas thread – Friday, 4 October, insightful charts, technical analysis, ideas
From
Japan today we had a barrage of headline comments cross from
Japan
finance minister Kato, Japan chief cabinet secretary Hayashi, and
Japan
economy minister Akazawa.
These
were related to new Japanese Prime Minister Ishiba ordering the
preparation of a supplementary budget, i.e. more fiscal stimulus
efforts. Akazawa helpfully chimed in with a comment that the timing
of BOJ monetary policy change is important, it must align with
Japan’s broader goal of exiting deflation. A reminder to the Bank of
Japan of government endorsing loose policy!
USD/JPY
has net drifted a little lower on the session, seemingly more
influenced by the prospect of a supplementary budget than Akazawa
berating the Bank of Japan.
Hong
Kong equities rallied. As a reminder, mainland China is on holiday
and returns on Tuesday next week.
In
other news, Bitcoin creator Satoshi Nakamoto will have his real
identity revealed next week. Or so promotions for the TV show tell us
(see bullets above).
The
US East Coast / Gulf dock strike is over for now, a tentative deal
has been reached with workers returning to the job until January 15
(see bullets above).
Major
FX was subdued for the session as traders await the US NFP data
Friday at 8.30 am US Eastern time. New York Federal Reserve President
Williams will speak a half hour later.
This article was written by Eamonn Sheridan at www.forexlive.com.
