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Asian-Pacific indices are trading higher. Chinese indices are gaining between 0.15–0.40%, Japan’s JP225 is up 1.10%, and Singapore’s SG20cash is up 0.30%.
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The strongest-performing currency is the New Zealand dollar after the RBNZ decision. The weakest is the Japanese yen. USDJPY is up 0.10% despite a weaker dollar, and NZDUSD is up 1.15%.
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The RBNZ cut rates by 25 bp to 2.25%, but the message was clearly hawkish — the bank signaled the end of the easing cycle. The OCR is expected to remain near 2.25% until early 2026 and then rise to 2.65% by the end of 2027. This effectively closes the door to further easing.
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Governor Hawkseby stated that risks are “balanced,” the OCR path remains flat until 2026, and all options remain on the table — confirming that yesterday’s 25 bp cut was likely the last of the cycle.
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AUD rises after another acceleration in inflation in Australia. Monthly CPI increased 3.8% y/y in October (vs 3.6% expected), the fastest in 10 months and the fourth consecutive acceleration since June. Chances of further RBA rate cuts are now minimal.
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Several BOJ members — Masu, Koeda, and even the dovish Noguchi — are signaling that the time for a rate hike is approaching, with a possible decision as early as December or January.
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Japan’s services PPI increased by 2.7% (previously 3.0%), with strong price pressures in labor-intensive sectors — hotels and construction — supporting the BOJ’s wage-inflation narrative.
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The PBOC set the yuan fixing at the strongest level since 14 October 2024, strengthening the currency.
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Gold rebounds 0.54% to 4,150 USD per ounce. Tensions around Taiwan persist. China has accused Japan and Taiwan’s DPP of “provocations” in the Taiwan Strait, warning against external interference. Taiwan is preparing for a potential military conflict by 2027.
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HP’s Q4 revenue came in at 14.64 billion USD (vs ~14.53 billion expected), EPS 0.93 USD (vs 0.92), but the EPS forecast for FY26 at 2.90–3.20 USD was below consensus. The company plans to cut 4,000–6,000 jobs and achieve 1 billion USD in savings by FY2028, accelerating full AI integration and restructuring its global operations.
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China is implementing AI and automation in factories on a massive scale — last year, 295,000 industrial robots were installed (9× more than in the U.S.). “Dark factories” are being developed, 24/7 automated production is expanding, and artificial intelligence is expected to help maintain export competitiveness in the face of tariffs and labor shortages.
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Trump announced that there is no longer a fixed deadline for a Russia–Ukraine agreement, although negotiations are making progress.
Economic calendar: US CPI in the spotlight (13.02.2026)
Daily summary: Silver plunges 9% 🚨Indices, crypto and precious metals under pressure
BREAKING: US jobless claims slightly higher than expected
Economic calendar: US Jobless Claims and ECB Speeches to Offer Markets Breathing Room (12.02.2026)
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