ForexLive Asia-Pacific FX news wrap: Subdued ranges awaiting US data and FOMC minutes

[Forex News]

• PBOC appears to be ramping up housing & infrastructure financing to support the economy
• China has relaxed visa restrictions for travellers from the US
• Central bank events are still thin on the ground as holidays continue - FOMC minutes later
• Internal documents from the Reserve Bank of Australia reveals impact of high rates
• Another earthquake hits Noto area in Ishikawa Prefecture
• FOMC December meeting minutes coming up - premature rate cut euphoria likely to take a hit
• PBOC sets USD/ CNY central rate at 7.1002 (vs. estimate at 7.1512)
• Australian PM floats further 'cost of living' relief proposals - wary of stoking inflation
• Wall Street Journal says "China is headed toward a demographic collapse"
• ICYMI - China's home sales fell 26% compared with the same period last year (NY holiday)
• UK company directors have turned more pessimistic on the economy & investment
• US ISM Manufacturing Index is due Wednesday - the numbers to watch
• UBS expects stronger-than-expected jobs in Friday's NFP, but jobs not the main 2024 story
• RBC on oil - 'clear and present danger' of a wider Middle East conflict involving Iran
• ICYMI - China issues huge batch of crude oil import quotas for 2024
• Forexlive Americas FX news wrap 2 Jan: The USD and yields move higher. Stock lower.
• IMF Chief forecasts lower inflation and rates ahead, advises everyone to cheer up
• HSBC projects Brent crude oil to average $82.5 /barrel and gold to average $1,825 in 2024
• Stock indices mixed as winners from 2023 falter, unemployment data looms
• Trade ideas thread - Wednesday, 3 January, insightful charts, technical analysis, ideas

Therewerenodata releases scheduled for the session here in Asia today and on thecentral bank front all we had were the RBA monthly ‘Chart Pack’(the Chart Pack summarises macroeconomic and financial market trendsin Australia and provides some information about developments acrossAustralia's main trading partners) and the regular USD/CNY referencerate setting from the People’s Bank of China. The light centralbank calendar continues into Europe before the Federal Open MarketCommittee (FOMC) release their December meeting minutes at 2pm USEastern time.

Newsflow, too, was light.

Acrossmajor forex rates ranges were limited. The US dollar dribbled a tinyfew points lower overall.

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

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