Fed’s Waller says weak labour market justifies another rate cut in December – recapMorgan Stanley lifts S&P 500 target to 7,800 as earnings and dovish Fed drive bull caseBank of Japan Governor Kazuo Ueda will meet with Prime Minister Sanae Takaichi todayBitcoin has dropped under US$91K for the first time in half a yearMorgan Stanley sees euro peaking at $1.23 in early 2026 before sliding to $1.16Barclays: Brent could jump above $85 if Russian oil exports decline sharplyPBOC sets USD/ CNY mid-rate at 7.0856 (vs. estimate at 7.1096)China sets pricing guidance for €4bn euro bond deal to diversify offshore fundingJapan keeps moderate recovery view unchanged as long-term JGB yields riseRBA says rates could stay on hold longer but easing still possible if growth weakensJapan yen verbal intervention – “alarmed” over FX movesJapan’s finance minister says stimulus has grown “sizable,” but declines to give figureMorgan Stanley sees dollar (DXY) dipping to 94 in early 2026 before recovering by year-endAAPL news: JP Morgan says long iPhone 17 wait times show demand still outpacing supplyDeutsche Bank says hawkish Fed behind multi-asset selloff, but broader backdrop still firmChina and Russia vow deeper cooperation in investment, energy, agriculture and cultureGoldman sees 7.7% annual global equity returns, urges investors to look beyond the U.S.ICYMI – Chinese buying lifts U.S. soybean futures to highest level since mid-2024Nikkei reports that Japanese Prime Minister Takaichi “eyes tax cuts to spur investment “investingLive Americas FX news wrap 17 Nov:The USD is higher/stocks lower as fear increaseGoldman sees strong central-bank buying, long-term gold target $4,900HSBC says odds favour a year-end equity melt-up, bubble fears prove overstatedMalignant Monday: S&P 500, Nasdaq, Dow all lower. BTC, risk too.More from Fed’s Waller: A rebound in labor market would maybe mean no need for cutsFed’s Waller says supports a 25bp rate cut at the December 9/10 meeting
Japan’s Finance Minister Katayama struck a sharper tone on yen weakness, saying she is “alarmed” by recent FX moves and noting one-sided, rapid shifts in the currency. The language marks an escalation in verbal intervention as fiscal concerns push Japan’s long-end yields to multi-decade highs, with the 30-year JGB now around 3.30%.
BOJ Governor Ueda meets Prime Minister Takaichi today in a closely watched meeting, with yen weakness and political pressure complicating the timing of the next rate hike. Ueda has hinted at a near-term move, while Takaichi has urged caution amid signs of softer economic momentum. The meeting begins at 3:30 p.m. Tokyo (0630 GMT / 0030 ET). JPY stayed heavy, USD/JPY holding near 155.20.
RBA minutes showed board members debating whether policy is still restrictive after a jump in inflation and a stronger-than-expected labour market. The bank could hold rates longer if demand stays firm, though easing remains possible if growth or jobs falter. The board views policy as only slightly restrictive and now expects inflation to sit above target until mid-2026. The tone was marginally hawkish, trimming near-term easing expectations. AUD was little moved.
China escalated pressure on Japan, banning travel by state-owned enterprise employees, cancelling tour groups and events, and halting Japanese film releases. The moves follow PM Takaichi’s recent suggestion that a Chinese attack on Taiwan could trigger a military response from Japan, raising bilateral tensions.
Bitcoin fell below $90,000, its lowest level since April, amid a broader risk-off tone.
Asia-Pac
stocks:
Japan
(Nikkei 225) -2.25%Hong
Kong (Hang Seng) -1.11%
Shanghai
Composite -0.5%Australia
(S&P/ASX 200) -1.8%
This article was written by Eamonn Sheridan at investinglive.com.