ForexLive Asia-Pacific FX news wrap: Limited FX ranges
<p><br></p><ul><li><a href="https://www.forexlive.com/centralbank/bank-of-england-to-deliver-50-bps-interest-rate-cuts-in-q4-2024-jp-morgan-20231122/">Bank of England to deliver 50 bps interest rate cuts in Q4 2024: JP Morgan</a></li><li><a href="https://www.forexlive.com/news/goldman-sachs-predicts-a-35-probability-of-further-opec-insurance-output-cuts-20231122/">Goldman Sachs predicts a 35% probability of further OPEC+ 'insurance' output cuts</a></li><li><a href="https://www.forexlive.com/news/chinese-government-advisers-recommend-economic-growth-target-of-5-for-2024-20231122/">Chinese Government advisers recommend economic growth target of 5% for 2024</a></li><li><a href="https://www.forexlive.com/news/goldman-sachs-say-chinese-stocks-could-post-their-first-index-gains-in-four-years-in-2024-20231122/">Goldman Sachs say Chinese stocks could post their first index gains in four years in 2024</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-canada-governor-tiff-macklem-speaks-on-wednesday-22-november-20231122/">Bank of Canada Governor Tiff Macklem speaks on Wednesday, 22 November</a></li><li><a href="https://www.forexlive.com/news/icymi-agreement-reach-for-50-hostages-to-be-released-4-day-pause-in-gaza-fighting-20231122/">ICYMI – Agreement reached for 50 hostages to be released, 4 day pause in Gaza fighting</a></li><li><a href="https://www.forexlive.com/centralbank/european-centralbank-appearances-wednesday-by-centeno-elderson-20231122/">European Central Bank appearances Wednesday by Centeno, Elderson</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-trims-the-amounts-of-jgbs-its-buying-20231122/">Bank of Japan trims the amounts of JGBs its buying</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-mid-point-today-at-71254-vs-estimate-at-71468-20231122/">PBOC sets USD/ CNY mid-point today at 7.1254 (vs. estimate at 7.1468)</a></li><li><a href="https://www.forexlive.com/news/oil-with-a-pop-higher-20231122/">Oil with a pop higher</a></li><li><a href="https://www.forexlive.com/news/us-military-has-carried-out-2-strikes-against-two-iran-backed-facilities-in-iraq-20231122/">US military has carried out strikes against two Iran-backed facilities in Iraq</a></li><li><a href="https://www.forexlive.com/centralbank/singaporecentral-bank-reaffirms-that-its-current-monetary-policy-settings-are-appropriate-20231122/">Singapore central bank reaffirms that its current monetary policy settings are appropriate</a></li><li><a href="https://www.forexlive.com/centralbank/goldman-sachs-us-fiscal-discipline-unlikely-steepening-yield-curve-expected-20231122/">Goldman Sachs: US fiscal discipline unlikely, steepening yield curve expected</a></li><li><a href="https://www.forexlive.com/Cryptocurrency/bitcoin-has-fallen-as-low-as-circa-385k-20231122/">Bitcoin has fallen as low as circa $35.8K</a></li><li><a href="https://www.forexlive.com/news/singapores-q3-gdp-beats-earlier-expectations-14-qq-20231122/">Singapore's Q3 GDP beats earlier expectations: +1.4% q/q</a></li><li><a href="https://www.forexlive.com/news/australian-leading-index-stumbles-further-points-to-more-weak-growth-ahead-20231121/">Australian Leading Index stumbles further, points to more weak growth ahead</a></li><li><a href="https://www.forexlive.com/news/japans-government-slashed-its-view-on-the-economy-first-such-downgrade-in-10-months-20231121/">Japan's government slashed its view on the economy, first such downgrade in 10 months</a></li><li><a href="https://www.forexlive.com/news/northvolts-breakthrough-battery-with-no-critical-minerals-could-minimise-reliance-on-china-20231121/">Northvolts breakthrough battery with no critical minerals could minimise reliance on China</a></li><li><a href="https://www.forexlive.com/news/oil-price-forecast-brent-crude-expected-to-reach-80bbl-on-a-3-month-time-horizon-20231121/">Oil price forecast: Brent crude expected to reach $80/bbl on a 3 month time horizon</a></li><li><a href="https://www.forexlive.com/news/mcdonalds-raises-its-stake-in-its-china-business-even-as-other-multinationals-pull-back-20231121/">McDonald's raises its stake in its China business, even as other multinationals pull back</a></li><li><a href="https://www.forexlive.com/news/amazon-amzn-founder-jeff-bezos-is-expected-to-offload-more-of-his-shares-20231121/">Amazon (AMZN) founder Jeff Bezos is expected to offload more of his shares</a></li><li><a href="https://www.forexlive.com/news/nvidia-shares-poised-for-8-surge-in-wednesday-trade-defying-market-apprehensions-20231121/">Nvidia shares poised for 8% surge in Wednesday trade, defying market apprehensions</a></li><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-21-nov-20231121/">Forexlive Americas FX news wrap 21 Nov:Fed minutes are a bit less hawkish than expectation</a></li><li><a href="https://www.forexlive.com/news/private-oil-survey-data-shows-much-larger-headline-crude-build-than-was-expected-20231121/">Private oil survey data shows MUCH larger headline crude build than was expected</a></li><li><a href="https://www.forexlive.com/news/canadian-government-economic-update-2024-growth-forecast-slashed-higher-deficits-to-come-20231121/">Canadian government economic update: 2024 growth forecast slashed, higher deficits to come</a></li><li><a href="https://www.forexlive.com/news/us-stocks-take-a-pause-and-steps-a-five-day-run-to-the-upside-20231121/">US stocks take a pause and snaps a five-day run to the upside</a></li><li><a href="https://www.forexlive.com/news/trade-ideas-thread-wednesday-22-november-insightful-charts-technical-analysis-ideas-20231121/">Trade ideas thread Wednesday, 22 November, insightful charts, technical analysis, ideas</a></li></ul><p>
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<font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">We
had some political news during the session as macroeconomic releases
dried up. </span></font></font></font>
</p>
<p><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">The
US military confirmed it had conducted strikes on two sites in Iraq,
both Iran-sponsored facilities, an operations centre and a command
node used by Hezbollah. </span></font></font></font>
</p>
<p><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">Later there was news from the Israeli government that </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">Hamas will free 50 of the roughly 240 hostages it is holding in the Gaza Strip
over a four-day period. </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">There
will be a pause in fighting during these four days.</span></font></font></font></p>
<p><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">For
markets this was mixed news. Oil has net fallen in price during the
session after small swings both ways. Earlier in the session the
private survey of inventory reported a much, much larger build than
was expected. </span></font></font></font>
</p>
<p><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">From
Singapore we had the fin</span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">al
estimate for 3Q GDP. </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">This
showed </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">the
economy grew </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">a
better-than-expected </span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">1.1%
</span></font></font></font><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">y/y
(expected +0.8%, preliminary reading +0.7%) and +1.4% q/q.</span></font></font></font></p>
<p><font color="#000000"><font face="Calibri, sans-serif"><font size="3"><span lang="en-AU">Major
FX rates traded in limited ranges. </span></font></font></font>
</p><p><br></p><p><br></p><p><br></p><p>USD/JPY broadly sideways:</p><figure data-media-><img src="https://images.forexlive.com/images/usdyen%20jpy%20wrap%20chart%2022%20November%202023_id_f76d04ca-bba4-4596-8a11-641833035f03_size900.jpg" alt="usdyen jpy wrap chart 22 November 2023" width="1098" height="745" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/usdyen%20jpy%20wrap%20chart%2022%20November%202023_id_f76d04ca-bba4-4596-8a11-641833035f03_size900.jpg" /></figure><p><br></p><p><br></p>
This article was written by Eamonn Sheridan at www.forexlive.com.
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