ForexLive Asia-Pacific FX news wrap: Oil traded lower

• Bank of Canada Governor Macklem and Senior Deputy Rogers are speaking Monday
• Goldman Sachs plan to raise 10-year growth forecasts – enormous potential of generative AI
• ECB and Riksbank speakers due on Monday
• PBOC sets USD/ CNY reference rate for today at 7.1781 (vs. estimate at 7.3165)
• Standard Chartered-owned crypto firm launches in Hong Kong: Zosia
• Australian data – September Retail Sales +0.9% m/m (vs. +0.3% expected)
• Australia rejected a free trade deal with the EU – “not been able to make progress”
• I’ve just spotted the first ‘Santa Rally’ post of the season
• Citi’s Morse says oil market is weaker than priced, also China diesel demand has peaked
• Bank of Japan decision on JGB yield cap due this week – yen “a hissing volcano”
• US SEC investigating tampering at Two Sigma hedge fund: unauthorized model adjustments
• WTI & Brent oil down, equity stock indexes up – Sunday evening futures trade opens
• China state media puff piece: policy bank steps up support for information infrastructure
• Jordan asked the US to deploy Patriot air defense systems to bolster its border defense
• Dubai-Makhachkala aircraft effectively hijacked in Russia (Makhachkala , Dagestan)
• China domestic flights to jump 34% above pre-pandemic levels. Flights to US to rise also.
• Reports of US airstrikes on Iran-backed military bases in eastern Syria
• Weekend – ECB’s Vujcic says the Bank’s rate hike cycle is over, “for now”
• Trade ideas thread – Monday, 30 October 2023
• Monday morning open levels – indicative forex prices – 30 October 2023
• Newsquawk Week Ahead: Highlights include FOMC, BoJ, BoE, US NFP, PMIs, and EZ CPI & GDP
• Weekly Market Outlook (30-03 November)
• Israel ground offensive underway but so far the fighting is limited to Gaza
• Forexlive Americas FX news wrap: Russell 2000 hits a three-year low, eyes on Gaza

Despite
weekend Middle East escalation oil dropped lower on the reopen for
the week in European and US Sunday evening/Monday morning Asia trade.
It managed to retraced much of it opening loss, not all and as I post
is dribbling back to the downside again.

Major
forex rates were relatively subdued. USD/JPY had a 30 or so point
range, held in check by the imminent Bank of Japan statement due
around this time tomorrow. AUD/USD caught a bid after much better
than expected m/m retail sales growth, the quickest since January,
and firming the prospects for a November 7 Reserve Bank of Australia
rate hike. NZD/USD tracked Oz higher. The Australian government
walked away from a potential FTA with the EU after negotiations
stalled over insurmountable sticking points. AUD/USD shrugged this
off.

Asian
equity markets:

• Japan’s
  Nikkei 225 -1.2%

• China’s
  Shanghai Composite -0.3%

• Hong
  Kong’s Hang Seng -0.5%

• South
  Korea’s KOSPI +0.4%

• Australia’s
  S&P/ASX 200 -0.4%