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<p> Japan Chief Cabinet Secretary Matsuno comments on the Bank of Japan Tankan report out earlier today:</p><ul><li> Tankan business sentiment survey shows overall corporate sector is firm</li><li> Need to closely monitor downside risks including overseas economic slowdown, rising prices</li></ul><

<p>While we await the Federal Open Market Committee (FOMC) Statement due today and Federal Reserve Chair Powell's press conference after, some snippets from Bank of America on what they expect from the Bank in 2024.</p><p>In brief:</p><ul><li> "2023 defied almost everyone's expectations: recessions

<p>The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li>

<p>A Bank of Japan official is hitting the news with his take on some good news from the Tankan report:</p><ul><li> Big automakers' sentiment DI, at +28, was the highest since March 2014</li><li>Big hotel, restaurants sentiment DI, at +51, hits its highest level since comparable data became available in Marc

<p>People's Bank of China USD/CNY reference rate is due around 0115 GMT.</p><p>The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan

<p>As part of the Bank of Japan Tankan report is the corporate price expectations survey:</p><ul><li>Japan firms expect consumer prices to rise 2.4% a year from now vs +2.5% in previous survey. </li><li>Expect consumer prices to rise an annual 2.2% 3 years from now vs +2.2% in previous survey. </li><li&g

<p>The firm argues that the Fed will not want to fuel interest rate cut speculations any further in today's communication with Powell "likely to emphasise how important it is to leave interest rates at a high level for long enough”.</p><p>That being said, the economic projections will be a crucial point for markets to fo

<p>We are likely set for a more pensive trading session in Europe today, as markets are all awaiting for the FOMC meeting statement and decision later. The Fed is expected to keep interest rates unchanged but there will be a lot to scrutinise, from the dot plots and economic projections to Fed chair Powell's press […]

<p>The dollar rocked back and forth in the aftermath of the US CPI report but overall, very little has changed. Traders are still pricing in the first rate cut for May 2024 while there is roughly 110 bps worth of rate cuts priced in for the whole of next year currently. That isn't much of […]

<p>As the FOMC meeting statement today will be accompanied by the Summary of Economic Projections, Citi anticipates that the Fed should move more dovishly in adjusting its dot plots and inflation forecasts lower today. As for the statement itself, they see a change in this particular passage. In October:</p><p>"In determining