- (NZ) Reserve Bank of New Zealand (RBNZ) Chief Economist Conway: Tide may have turned against housing being a one way bet for a generation of New Zealanders; Core housing fundamentals have changed.

- (AU) Australia Q1 Job Vacancies Q/Q: 13.8% v 6.2% prior.

- (AU) Australia May Private Sector Credit M/M: 0.8% v 0.8% prior; Y/Y: 9.0% v 8.6%e.

Japan

- Nikkei 225 opened -0.2%.

- (JP) Japan May Preliminary industrial production M/M: -7.2% V -0.3%E; Y/Y: -2.8% V 4.2%E.

- (JP) Japan Investors Net Buying of Foreign Bonds: -¥1.60T v -¥496.7B prior; Foreign Net Buying of Japan Stocks: -¥429.7B v -¥942.5B prior.

- (JP) Tokyo said to raise COVID warning to the 2nd highest level - Japan press.

Korea

- Kospi opened -0.4%.

- (KR) South Korea sets 2023 Minimum Wage at KRW9.6K/hr, +5% y/y.

- (KR) South Korea May Industrial Production M/M: 0.1% v 0.5%e; Y/Y: 7.3% v 4.0%e.

- (KR) South Korea May Cyclical Leading Index Change: +0.1 v -0.3 prior (1st increase since Jun 2021).

- (KR) South Korea May Retail Sales M/M: -0.1% v -0.2% prior; Y/Y: 10.1% v 0.5% prior.

- (CN) China NDRC: May Natural Gas Apparent Consumption Y/Y: -5.2% v -1.8% prior.

China/Hong Kong

- Hang Seng opened -0.4%; Shanghai Composite opened -0.1%.

- (CN) China Jun manufacturing PMI (GOVT OFFICIAL): 50.2 V 50.5E.

- (CN) China PBOC sets Yuan reference rate: 6.7114 v 6.7035 prior.

- (CN) China PBOC Open Market Operation (OMO): Sells CNY80B in 7-day reverse repos v CNY100B prior; Net inject CNY70B v Net inject CNY90B prior.

- (CN) China Securities Regulator (CSRC) cutting fees on private corporate bond sales by CNY160M.

North America

- (US) Q1 Final GDP annualized Q/Q: -1.6% V -1.5%E; personal consumption: 1.8% V 3.1%E.

- Unity U To cut 4% of staff.

- (US) DOE Crude for week ending June 24TH -2.8M; Gasoline: +2.7M; DISTILLATE: +2.6M.

Europe

- (UK) Jun Lloyds Business Barometer: 28 v 38 prior.

- (UK) May Car Manufacturing 62.3K units, +13.3% y/y - SMMT.

Levels as of 01:20 ET

- Nikkei 225, -1.4%, ASX 200 -1% , Hang Seng +0.4%; Shanghai Composite +1.5% ; Kospi -1.1%.

- Equity S&P500 Futures: -0.4%; Nasdaq100 -0.4%, Dax -0.5%; FTSE100 -0.6%.

- EUR 1.0457-1.0433 ; JPY 136.81-136.40 ; AUD 0.6903-0.6852 ;NZD 0.6229-0.6198.

- Gold flat at $1,816/oz; Crude Oil +0.1% at $109.95/brl; Copper -0.1% at $3.7670/lb.

Author

TradeTheNews.com Staff

TradeTheNews.com

Trade The News is the active trader’s most trusted source for live, real-time breaking financial news and analysis.

AUD/USD bounces off multi-month low, nears 0.6900

AUD/USD edges higher toward 0.6900 in the Asian session on Wednesday, recovering some of the previous day’s losses to its lowest level since March as the US Dollar stalls the hot US CPI-inspired rally amid hopes of a US-Iran peace deal. Meanwhile, hawkish comments from FOMC members have almost confirmed another December rate hike, which favors USD bulls and should cap the Aussie.

USD/JPY remains capped below 159.00 amid looming intervention risks

USD/JPY struggles to build on the previous day’s strong gains to a near one-month top as intervention risk supports the Japanese Yen while hopes of a US-Iran peace deal cap the safe-haven US Dollar. That keeps the pair's upside limited below 159.00, for now.

Gold sticks to gains near $4,050 amid steeper Fed rate hike bets

Gold clings to recovery gains near $4,050 in the European session on Wednesday. However, upside seems limited amid sustained US Dollar demand. Tuesday's hot US inflation figures fuel expectations of a more aggressive policy tightening by the US Federal Reserve (Fed). This helps the Greenback preserve recent strong gains, despite hopes for US-Iran diplomacy.

Bitcoin at risk of sharp moves as leverage builds in derivatives markets

Bitcoin remains in a capped tone, trading around $73,800 after slipping to a low of $72,727 following the previous day’s hot US inflation figures. Institutional demand continues to weaken, with BTC spot Exchange Traded Funds recording a $95 million outflow on Tuesday, marking the fourth straight day of withdrawals. Traders should be cautious as a K33 Research report highlights that BTC is at risk of sharp moves as leverage builds in derivatives markets.

Hot CPI helps cement December Fed hike as Nvidia slumps

October CPI inflation landed yesterday and beat expectations across the board. Note that we only received the MM figures because of last year’s government shutdown. Headline MM came in at 0.4%, beating the 0.3% forecast, though below September's 0.6%. Core MM also came in at 0.3%, slightly higher than the 0.2% estimate and matching the prior month’s reading.

What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.