-
Indices in the Asia-Pacific region are rebounding, except for the Japanese market. Chinese indices, including HSCI and HSI, are gaining over 3.20%.
-
The Japanese Nikkei 225 index is the only one recording a loss of about 0.10%, while Kospi gains 0.45%, and the Australian S&P ASX 200 increases by 0.60%.
-
The Japanese market is losing following the decision and comments of the Bank of Japan (BoJ). JPY is the weakest currency among the G10 currencies today, with USDJPY gaining 0.10% to 148.100 despite an equally weak dollar in the first part of the day.
-
The BoJ left interest rates unchanged at -0.10%. The main assumptions of BoJ policy also remain unchanged. The yield on 10-year bonds remains around 0%, but with an allowable change of up to 1%. The BoJ does not introduce changes to forward guidance regarding monetary policy.
-
BoJ Quarterly Report: Will continue QQE and YCC as long as necessary.
-
The BoJ noted that CPI inflation is likely to rise gradually towards achieving the target. The probability of realizing the forecast is still gradually increasing, although there is still significant uncertainty about the future development of the situation.
-
Additionally, the Bank of Japan slightly revised down its core inflation forecasts:
- The median core CPI forecast for 2023 at +2.8%, compared to +2.8% in October
- The median core CPI forecast for 2024 at +2.4%, compared to +2.8% in October
- The median core CPI index for 2025 at +1.8%, compared to +1.7% in October
-
China plans to extend the suspension of preferential tariff rates provided in the trade agreement between China and Taiwan (Economic Cooperation Framework Agreement (ECFA)) signed in 2010. According to media reports, China cites the result of the presidential elections in Taiwan.
-
China Securities Journal claims that the People's Bank of China may lower the basic Loan Prime Rates (LPR) in the first quarter of 2024.
-
The chief economist of Goldman Sachs believes that the US Fed will achieve a soft landing in the US economy.
-
Stock markets in China are rebounding, reacting to recent dynamic declines following reports that Chinese policymakers are trying to mobilize about 2 trillion yuan (278.53 billion USD) as part of a stabilization fund to purchase shares on the mainland through the Hong Kong stock exchange. The options being considered may be announced this week if approved by the country's top leadership.
-
Cryptocurrencies are declining, with Bitcoin struggling to maintain the 40,000 USD level. A total of 76 million USD flowed out of Bitcoin ETFs yesterday, with Grayscale responsible for 640 million USD of outflows, while the rest of the funds recorded inflows of around 564 million USD.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
