Japan’s Finance Minister Suzuki said that a potential intervention in the currency market will not be announced ahead of time and would be “swift and without pause.” There was some press speculation that Japan will call on citizens to conserve power during the winter.
South Korea reportedly sold dollars to support the won. Some banks in China have reportedly cut personal deposit rates.
ASB Bank expects that the Reserve Bank of New Zealand’s official cash rate will peak at 4.25%, 25 bps above the prior forecast.
Japan’s August trade deficit JPY2.817 trln (expected deficit of JPY2.398 trln; last deficit of JPY1.434 trln). August Imports 49.9% yr/yr (expected 46.7%; last 47.2%) and Exports 22.1% yr/yr (expected 23.6%; last 19.0%). July Tertiary Industry Activity Index -0.6% m/m (expected -0.1%; last -0.4%)
Australia’s August Employment Change 33,500 (expected 35,000; last -41,000) and full employment change 58,800 (last -86,900). August Participation Rate 66.6%, as expected (last 66.4%) and August Unemployment Rate 3.5% (expected 3.4%; last 3.4%). MI Inflation Expectations 5.4% (last 5.9%)
New Zealand’s Q2 GDP 1.7% qtr/qtr (expected 1.0%; last -0.2%); 0.4% yr/yr (expected 0.2%; last 1.2%)