ForexLive Asia-Pacific FX news wrap: Awaiting the Non-farm Payroll report

<p>
Ranges
for major FX rates were subdued as Asia-Pacific traders were content
to await the US jobs report due at 8.30am US Eastern time.</p>
<p>News
flow was very light, as was data flow. We did get another poor data
point in the August wages information from Japan. Real wages in
August declined for a 17th month in a row. This is important as the
Bank of Japan has persistently been emphasising that sustainable wage
rises is a prerequisite for deciding whether and how to dismantle its
ultra-loose monetary stimulus. Household spending data was down y/y
also.</p>
<p>The
Reserve Bank of Australia released its latest Financial Stability
Review, taking note of a small but rising share of Australian
households in the early stages of financial stress.
</p>

<p>Asian
equity markets:</p>
<ul><li><p>
Japan’s
Nikkei 225 -0.25%</p></li><li><p>
China’s
Shanghai Composite % … China is on holiday all this week</p></li><li><p>
Hong
Kong’s Hang Seng +2.2%
</p></li><li><p>
South
Korea’s KOSPI +0.3%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 +0.7%</p></li></ul><p>NFP coming up later:</p><figure data-media-><img src="https://images.forexlive.com/images/non%20farm%20payroll%20preview%2006%20October%202023_id_6efa2503-1c44-4dd1-8117-23bbe534d6cf_size900.jpg" alt="non farm payroll preview 06 October 2023" width="1147" height="270" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/non%20farm%20payroll%20preview%2006%20October%202023_id_6efa2503-1c44-4dd1-8117-23bbe534d6cf_size900.jpg" /></figure>

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This article was written by Eamonn Sheridan at www.forexlive.com.