<ul><li><a href="https://investinglive.com/stocks/sec-to-propose-rule-change-to-end-quarterly-earnings-reports-20250919/">SEC to propose rule change to end quarterly earnings reports</a></li><li><a href="https://investinglive.com/news/canada-july-retail-sales-08-vs-versus-15-expected-20250919/">Canada July retail sales -0.8% vs versus 1.5% expected</a></li><li><a href="https://investinglive.com/centralbank/feds-kashkari-becoming-more-confidence-that-tariff-impact-on-inflation-will-be-temporary-20250919/">Fed's Kashkari: Becoming more confidence that tariff impact on inflation will be temporary</a></li><li><a href="https://investinglive.com/centralbank/feds-daly-rate-cut-was-to-try-to-support-the-labor-market-20250919/">Fed's Daly: Rate cut was to try to support the labor market</a></li><li><a href="https://investinglive.com/centralbank/feds-miran-falling-home-prices-will-drive-disinflation-20250919/">Fed's Miran: Falling home prices will drive disinflation</a></li><li><a href="https://investinglive.com/commodities/baker-hughes-us-oil-rig-count-2-20250919/">Baker Hughes US oil rig count +2</a></li><li><a href="https://investinglive.com/news/new-york-fed-gdp-nowcast-edges-higher-to-21-20250919/">New York Fed GDP Nowcast edges higher to 2.1%</a></li><li><a href="https://investinglive.com/news/trump-we-made-progress-with-china-on-several-important-issues-20250919/">Trump: We made progress with China on several important issues</a></li><li><a href="https://investinglive.com/news/xi-talks-with-trump-were-positive-and-constructive-20250919/">Xi: Talks with Trump were positive and constructive</a></li><li><a href="https://investinglive.com/news/former-feds-president-bullard-all-people-on-list-for-fed-chair-are-good-20250919/">Former Fed's President Bullard: All people on list for Fed Chair are good</a></li></ul><p>Markets:</p><ul><li>Gold up $39 to $3683</li><li>US 10-year yields up 2.3 bps to 4.12%</li><li>WTI crude oil down 84-cents to $62.73</li><li>S&amp;P 500 up 31 points to record 6664</li><li>CAD leads, GBP lags</li></ul><p>There wasn't much for the market to digest in terms of newsflow but there were some better hints on trade as Trump sounded upbeat after the call with Xi and Canada's trade official indicated that he would soon head to the US. The latter and the rally in gold helped to make the loonie the top performer on the day.</p><p>The fallout from the Bank of Japan decision was minimal as the yen rally faded despite the market pricing in a 50/50 chance of an October rate hike. USD/JPY is on track to finish the day flat.</p><p>Equities were flat midway through trading but the dip buyers really stepped up later and that resulted in strong bids and fresh records. The S&amp;P 500 is now up 10x from the financial crisis low and is showing scant signs of weakness. Today's leaders included:</p><ul><li>ORCL +4.3%</li><li>AMGN +3.3%</li><li>AAPL +3.1%</li><li>FDX +2.3% (following earnings)</li></ul><p>Intel was a laggard giving back 3% after yesterday's enormous rally.</p><p>Have a great weekend.</p> This article was written by Adam Button at investinglive.com.

<p>Adding a $100,000 fee for H-1B visas would have big consequences across immigration, labor markets, and business strategy. Smaller employers would almost entirely stop filing along with outsourcing firms. Even large tech companies could sharply reduce numbers, using visas only for extremely scarce roles.</p><p>This type of visa is a work permit that allows employers to hire foreign professionals in specialty occupations -- think tech, engineering, or medicine -- that require specialized knowledge and at least a bachelor’s degree.</p><p>The US issues about 85,000 new H-1B visas per year so at most this would raise $8.5 billion but would deprive tech companies -- Nvidia alone is worth $4 trillion -- of some of their best workers.</p> This article was written by Adam Button at investinglive.com.

<p>Canada's Trade Mininister Dominic LeBlanc said expects to go to Washington, DC for trade talks in the next two weeks.</p><p>That comment helped to lift the Canadian dollar in today's North American session. USD/CAD is down 23 pips to 1.3768 and that has the loonies as the top performing G10 currency today.</p><p>In the past week, Canada has dropped some tariffs and trade actions in what could be a sign that officials think a deal is possible. Retaliatory tariffs were dropped last month and a court fight over lumber tariffs was also shelved. Canadian steel and aluminum producers are suffering at the moment from high tariffs while farmers have been hit hard be Chinese retaliatory tariffs after Canada blocked Chinese auto imports to align with the US.</p><p>This week, Prime Minister Mark Carney was in Mexico to sign a “strategic comprehensive partnership” pact at deepening trade and investment. Both countries said said they would improve trade infrastructure including ports, rail and energy corridors and invest and trade more in areas including energy, critical minerals and agriculture.</p><p>As for the USD/CAD chart, it looks to me like a head-and-shoulders top could be shaping up. A break of the neckline would target a return to the summer lows.</p> This article was written by Adam Button at investinglive.com.

<p>The The New York Fed Staff Nowcast for 2025:Q3 is now 2.10%, which is fractionally higher than 2.08% last week. The Philly and Empire Fed surveys essentially cancelled each other out while the retail sales numbers added a slight lift.</p><p>The advance reading on Q3 isn't due until Oct 30 so there is much data to come before we get anything close to a real consensus.</p> This article was written by Adam Button at investinglive.com.

<p>Trump is out with comments following his talk with Xi:</p><blockquote>I just completed a very productive call with President Xi of China. We made progress on many very important issues including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the approval of the TikTok Deal. I also agreed with President Xi that we would meet at the APEC Summit in South Korea, that I would go to China in the early part of next year, and that President Xi would, likewise, come to the United States at an appropriate time. The call was a very good one, we will be speaking again by phone, appreciate the TikTok approval, and both look forward to meeting at APEC!</blockquote><p>There are some positive signs on other issues here.</p> This article was written by Adam Button at investinglive.com.

<ul><li>China-US relations very important</li><li>US should refrain from imposing unilateral trade restrictions</li><li>Hopes US to provide open, fair environment for Chinese firms</li><li>China will not forget US support in WWII</li></ul><p>There isn't much to read into this read out. I might have hoped for something a bit more positive but we'll have to see what Trump says.</p> This article was written by Adam Button at investinglive.com.

<p>S&amp;P 500 and Nasdaq futures are up 0.2% ahead of the open.</p><p>The President is tweeting about the government's purchase of Intel shares, which are down 1% in the pre-market.</p> This article was written by Adam Button at investinglive.com.

<p>The main topic of this call is the TikTok deal but that is part of broader discussions around trade. If anything, I would expect some positive developments or comments on that front.</p><p>Chinese stock markets have been red hot lately.</p> This article was written by Adam Button at investinglive.com.

<ul><li>The advanced July report was +0.7%</li><li>Prior was +1.5%</li><li>Ex-autos -1.2% vs -0.7% expected</li><li>Prior ex-autos +1.9%</li><li>Sales down in 8 of 9 subsectors</li><li>Advance August report +1.0%</li></ul><p>The cardholder data from RBC earlier this week showed headline sales down 2.2% but core sales up 0.4% The advanced reading from Statistics Canada was much stronger with a +1.0% reading. There have been some reports of North American retailers highlighting that Canadian consumers have held up better than in the USA.</p><p>Details for July:</p><ul><li>Sales at motor vehicle and parts dealers edged up 0.2% in July</li><li>food and beverage retailers -1.3% with supermarkets down 2.5%</li><li>Clothing -3.2%</li></ul> This article was written by Adam Button at investinglive.com.

<ul><li>Fed decision is good, looks like a sequence of three to year-end</li><li>75 bps of cuts by year-end would be significant</li><li>Neutral rate is still fairly low, maybe 3.25%</li><li>I would not have voted for 50 bps this week</li><li>For doves, 25 this week and 25 in October is almost as good</li></ul><p>Bullard is a former President of the Federal Reserve Bank of St. Louis. He's been generally leaning hawkish and this is also what transpires from these comments. He's one of the candidates for becoming the next Fed Chair when Powell's term expires in May 2026. </p><p>If Trump just wants a dove who's going to do whatever he asks, then I suspect Bullard is out of the race.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<p>Headlines:</p><ul><li><a href="https://investinglive.com/forex/usdjpy-turns-flat-on-the-day-after-ueda-press-conference-20250919/">USD/JPY turns flat on the day after Ueda press conference</a></li><li><a href="https://investinglive.com/centralbank/bank-of-japan-leaves-main-policy-rate-unchanged-at-05-as-widely-expected-20250919/">Bank of Japan leaves main policy rate unchanged at 0.5%, as widely expected</a></li><li><a href="https://investinglive.com/centralbank/boj-governor-ueda-will-continue-to-raise-rates-if-economy-prices-stick-to-forecasts-20250919/">BOJ governor Ueda: Will continue to raise rates if economy, prices stick to forecasts</a></li><li><a href="https://investinglive.com/centralbank/boj-governor-ueda-underlying-inflation-is-gradually-rising-towards-2-20250919/">BOJ governor Ueda: Underlying inflation is gradually rising towards 2%</a></li><li><a href="https://investinglive.com/centralbank/boj-governor-ueda-board-members-did-not-agree-to-proposal-by-takata-tamura-20250919/">BOJ governor Ueda: Board members did not agree to proposal by Takata, Tamura</a></li><li><a href="https://investinglive.com/technical-analysis/gold-consolidates-near-all-time-highs-as-traders-switch-their-focus-to-the-data-20250919/">Gold consolidates near all-time highs as traders switch their focus to the data</a></li><li><a href="https://investinglive.com/news/how-have-interest-rates-expectations-changed-after-this-weeks-events-20250919/">How have interest rates expectations changed after this week's events?</a></li><li><a href="https://investinglive.com/news/feds-kashkari-see-two-more-quarter-point-rate-cuts-this-year-as-appropriate-20250919/">Fed's Kashkari: See two more quarter point rate cuts this year as appropriate</a></li><li><a href="https://investinglive.com/news/ecbs-muller-no-need-for-further-rate-cuts-20250919/">ECB's Muller: No need for further rate cuts</a></li><li><a href="https://investinglive.com/news/ecbs-centeno-cant-tolerate-inflation-below-2-for-too-long-20250919/">ECB's Centeno: Can't tolerate inflation below 2% for too long</a></li><li><a href="https://investinglive.com/news/uk-august-retail-sales-05-vs-03-mm-expected-20250919/">UK August retail sales +0.5% vs +0.3% m/m expected</a></li><li><a href="https://investinglive.com/news/france-september-business-confidence-96-vs-96-prior-20250919/">France September business confidence 96 vs 96 prior</a></li></ul><p>Markets:</p><ul><li>USD and JPY lead, GBP lags on the day</li><li>European equities mixed; S&amp;P 500 futures up 0.1%</li><li>US 10-year yields up 3.3 bps to 4.137%</li><li>Gold up 0.2% to $3,650.47</li><li>WTI crude oil down 0.3% to $63.39</li><li>Bitcoin down 1.0% to $116,460</li></ul><p class="text-align-justify">The early half of the session was dominated by the BOJ as the Japanese central bank kept interest rates unchanged in their policy meeting today. However, it was the rate vote that raised eyebrows with Tamura and Takata both dissenting in favour of a proposition to raise interest rates by 25 bps.</p><p class="text-align-justify">That led USD/JPY to fall in late Asia trading to 147.20 before we got to BOJ governor Ueda's press conference. Ueda played things down in trying to brush off the dissents, as he mostly reaffirmed the majority view as being part of the main line of communique from the BOJ.</p><p class="text-align-justify">That alongside some modest dollar strength during the session led USD/JPY back up to remain close to flat levels now around 147.95.</p><p class="text-align-justify">As mentioned, the greenback kept gains from yesterday and is still seen advancing slightly today with EUR/USD down 0.2% to 1.1757 though large option expiries is holding losses in the pair for now. The laggard though is the pound, continuing the downside run post-BOE despite increasing calls for no more rate cuts this year. Cable fell from 1.3540 to sit just under 1.3500 currently, down 0.5% on the day.</p><p class="text-align-justify">Other major currencies also lagged behind against the dollar with USD/CHF seen up 0.4% to 0.7955 while USD/CAD is up 0.1% to 1.3808. Meanwhile, AUD/USD is also down slightly by 0.2% to hover near 0.6600 on the day.</p><p class="text-align-justify">In other markets, stocks remain more muted amid some light pushing and pulling. European indices started off with marginal gains but are now keeping more mixed with the DAX down 0.2% but CAC 40 seen up 0.2%. S&amp;P 500 futures fell a little by 0.2% during the session but are now just a touch higher by 0.1% ahead of US trading.</p><p class="text-align-justify">Amid the surprise rate votes from the BOJ decision, that pulled up short-term JGB yields. 2-year and 5-year JGB yields soared to 0.90% and 1.20% respectively, both the highest since 2008. That's also keeping with the continued rise in yields after the Fed in the US, with 10-year Treasury yields holding just a little higher on the day now.</p><p class="text-align-justify">In the commodities space, gold is keeping steadier as it consolidates the drop in the past two days. There seems to be some exhaustion to the upside run, so we'll see if that will lead to a pocket of correction for the precious metal in the weeks ahead. All that before we start gearing towards the stronger seasonal months in December and January of course.</p> This article was written by Justin Low at investinglive.com.

<ul><li>The ECB is running a slightly accomodative policy</li><li>The economy is set to benefit from a pickup in domestic demand </li></ul><p>This is what the majority of ECB policymakers have been repeating. The European Central Bank is done with rate adjustments and it's now just watching how the economy evolves in the next months. </p><p>They have also made it clear that slight deviations from their inflation target on either side won't be a reason for an adjustment. For inflation, they will look at the underlying inflation, so Core CPI.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<ul><li>Supported rate cut this week</li><li>Risk of sharp increase in unemployment warrants some Fed action</li><li>Neutral rate has likely risen to 3.1%</li><li>Fed policy has not been as tight as previously thought</li><li>Can always cut rates more quickly if labour market weakens more than expected</li><li>If labour market proves resilient or inflation rises, should pause and hold policy rate</li><li>Open to raising policy rate if economic conditions warrant</li><li>Hard to see inflation climbing much higher than 3% from tariffs</li></ul><p>Kashkari has been leaning hawkish for a long time and he's not deviating from his usual stance here. He's also been one of the very few open for rate hikes if needed but that will likely take inflation to start rising steadily above 3%.</p><p>Kashkari is not a voter this year but will be next year.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<p class="text-align-justify">The INE revised Spain's 2024 GDP growth rate to 3.5%, up from 3.2% originally. At the same time, the stats office also revised down the 2023 growth rate to 2.5%, down from 2.7% previously, with a minor bump to the 2022 figure to 6.4% - previously 6.2%.</p><p class="text-align-justify">Amid the struggles in Germany and France, Spain was one of the bright spots in the euro area last year. The German economy was plagued by the manufacturing recession while the French economy failed to spark domestic demand conditions and was only salvaged by the Olympic games boost.</p> This article was written by Justin Low at investinglive.com.

<p>Another investment bank revising its BoE rate cuts expectations alongside<a href="https://investinglive.com/centralbank/morgan-stanley-no-longer-expects-boe-to-cut-rates-any-more-for-whats-left-of-this-year-20250919/" target="_blank" rel="follow"> the other ones</a> we got earlier. The bank expects the next rate cuts in February and April 2026.</p><p>In my opinion, the BoE has a very big inflation problem. Inflation expectations remain elevated and even rising, that could feed into wage setting and therefore keep inflation higher for longer (and wage growth has indeed been high for years).</p><p>The central bank should stop thinking about rate cuts altogether and open the door for rate hikes if needed. This way they would guide expectations lower without the need to actually deliver any rate hike. It might mean a slowdown in the economy or even a recession sure, but that's the price you have to pay when you screw it up so badly.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<ul><li>2028 inflation forecast likely to be below 2%</li><li>Still see inflation risks to downside</li><li>Next move is still likely to be a cut</li></ul><p>Centeno has been one of the most dovish members for a long time and he's not deviating from that stance here. When dovish members make dovish comments, the market ignores them because it's a known information and therefore doesn't change future expectations.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<p>Rate cuts by year-end</p><ul><li>Fed: 44 bps (92% probability of rate cut at the upcoming meeting)</li></ul><p>2026: 113 bps</p><ul><li>ECB: 4 bps (99% probability of no change at the upcoming meeting) </li></ul><p>2026: 10 bps</p><ul><li>BoE: 7 bps (94% probability of no change at the upcoming meeting) </li></ul><p>2026: 40 bps</p><ul><li>BoC: 20 bps (52% probability of no change at the upcoming meeting) </li></ul><p>2026: 32 bps</p><ul><li>RBA: 30 bps (81% probability of no change at the upcoming meeting)</li></ul><p>2026: 52 bps</p><ul><li>RBNZ: 58 bps (78% probability of rate cut at the upcoming meeting; the rest for a 50 bps cut) </li></ul><p>2026: 70 bps</p><ul><li>SNB: 4 bps (95% probability of no change at the upcoming meeting) </li></ul><p>2026: 8 bps</p><p>Rate hikes by year-end</p><ul><li>BoJ: 18 bps (56% probability of no change at the upcoming meeting)</li></ul><p>2026: 53 bps</p><p>*The 2026 pricing reflects the cumulative easing expected by the end of 2026, not how much easing is expected in 2026 alone. </p><p>We got a very slightly hawkish repricing for the Fed but the market is still clearly disagreeing with the Fed's forecast. The Fed projected 75 bps more of easing by the end of 2026, while the market is pricing 113 bps. That's a significant mispricing and could be closed if we get strong US data in the next weeks and months. We had a similar mispricing last year and eventually it was the market who was wrong. Will it be wrong this time again?</p><p>We had also a notably dovish repricing for the RBNZ after the New Zealand GDP data surprised to the downside by a big margin. Given that the central bank was surprisingly dovish the last time, the market is now pricing good chances of a 50 bps cut at the upcoming meeting.</p><p>Finally, the market got surprised by the two dissents on the BoJ decision. In fact, two board members, Takata and Tamura, voted for a 25 bps hike at this meeting already. Overall, the market pricing didn't change much given that we were already expecting a hike by the end of the year and it's not a big difference if it's going to be in October or December. Governor Ueda has also downplayed the dissents in the press conference.</p> This article was written by Giuseppe Dellamotta at investinglive.com.

<ul><li>Services confidence 98</li><li>Prior 96</li><li>Industrial confidence 96</li><li>Prior 97</li></ul> This article was written by Justin Low at investinglive.com.

<p>In the European session, the only highlight was the <a href="https://investinglive.com/news/uk-august-retail-sales-05-vs-03-mm-expected-20250919/" target="_blank" rel="follow">UK Retail Sales</a> report. The data once again beat expectations but it didn't change anything in terms of interest rates expectations given that the BoE is now more focused on inflation. </p><p>We have also BoJ's Ueda Press Conference coming up at 06:30 am GMT and that's going to be interesting following the two dissenters today that voted for a hike. If Ueda downplays the dissent and sounds more patient on a rate hike, then we could see the JPY gains evaporate. </p><p>In the American session, we get the Canadian Retail Sales report. The consensus sees -0.8% in July vs 1.5% in June, and the ex-Autos m/m measure at -0.7% vs 1.9% prior. The data is unlikely to change anything for the BoC, so the market reaction will likely be muted.</p><p>Finally, we have the <a href="https://investinglive.com/news/chinese-president-xi-jinping-has-agreed-to-speak-with-trump-call-scheduled-friday-20250918/" target="_blank" rel="follow">Trump-Xi call</a> today scheduled for 09:00 am ET/13:00 pm GMT. This will be the first engagement since June with the topics including trade, tiktok and tech. Analysts expect limited agreements, so it might just reaffirm what we already heard from the US-China talks in Madrid earlier in the week. </p> This article was written by Giuseppe Dellamotta at investinglive.com.

<ul><li>Prior +0.6%; revised to +0.5%</li><li>Retail sales +0.7% vs +0.6% y/y expected</li><li>Prior +1.1%; revised to +0.8%</li><li>Retail sales ex autos, fuel +0.8% vs +0.7% m/m expected</li><li>Prior +0.5%; revised to +0.4%</li><li>Retail sales ex autos, fuel +1.2% vs +1.0% y/y expected</li><li>Prior +1.3%; revised to +1.0%</li></ul><p class="text-align-justify">The readings are a slight beat on estimates but do keep in mind that it comes amid a negative revision to the July numbers. In the three months to August, retail sales volumes were still down 0.1% but at least less markedly compared to the 0.6% fall in the three months to July. But when compared to the pre-pandemic i.e. February 2020 levels, retail sales volumes are down 2.1%.</p><p class="text-align-justify">On the month itself, there were modest increases in sales for all categories i.e. food stores, department stores, non-food stores, textile and clothing. That is all partially offset by a fall in automotive fuel sales.</p><p class="text-align-justify">Overall, it's just a modest bump on the month but the big picture remains a struggle for the UK consumer as higher prices are still largely playing a part in pinching households.</p> This article was written by Justin Low at investinglive.com.

<p class="text-align-justify">2-year JGB yields have now jumped up to 0.91% - its highest since 2008. Meanwhile, 5-year JGB yields have also shot higher to 1.20% - also its highest since 2008. This follows from the BOJ decision earlier, in which we saw policymakers Takata and Tamura dissented in favour of a 25 bps rate hike.</p><p class="text-align-justify">The overall decision was still a 7-2 majority in holding rates unchanged. However, is the dial starting to shift within the BOJ for their upcoming decisions?</p><p class="text-align-justify">Before today, a rate hike before the end of the year seems improbable for the BOJ. That especially as the US-Japan trade deal put a roadblock in front of the central bank's plans. The tariffs situation and the relative uncertainty is still one that the BOJ had previously reaffirmed in warranting a more cautious approach.</p><p class="text-align-justify">It's very rare to see BOJ policymakers break ranks like they did today. So, the question now is whether there is stronger feelings among the board in actually leaning towards a rate hike before next year? And if so, is today's push by Takata and Tamura enough to persuade others to join them in October or December?</p><p class="text-align-justify">Right now, traders are pricing ~47% odds of a 25 bps rate hike for October. And by December, there is roughly ~18 bps of rate hikes baked in. All of a sudden, the upcoming meetings look to be "live" ones. And that is keeping the yen firmer in the aftermath of the decision earlier.</p><p class="text-align-justify">We'll now have to wait on BOJ governor Ueda's press conference later to provide more clarity into their line of thinking. That will help to either shore up market odds and/or dissuade any overeager pricing.</p> This article was written by Justin Low at investinglive.com.

<ul><li><a href="https://investinglive.com/centralbank/goldman-sachs-no-longer-expects-any-more-bank-of-england-cuts-in-2025-20250919/">Goldman Sachs no longer expects any more Bank of England cuts in 2025</a></li><li><a href="https://investinglive.com/centralbank/new-zealand-credit-card-spending-for-august-35-yy-prior-14-20250919/">New Zealand Credit Card Spending for August +3.5% y/y (prior +1.4%)</a></li><li><a href="https://investinglive.com/news/former-chancellor-hunt-reeves-faces-very-difficult-uk-budget-with-50bn-fiscal-gap-20250919/">Former chancellor Hunt: Reeves faces “very difficult” UK budget with £50bn fiscal gap</a></li><li><a href="https://investinglive.com/news/china-sets-2030-target-100-cities-10000-15-minute-living-circles-to-boost-consumption-20250919/">China sets 2030 target: 100 cities, 10,000 “15-minute living circles” to boost consumption</a></li><li><a href="https://investinglive.com/forex/asian-currencies-steady-risk-appetite-offers-support-nab-20250919/">Asian currencies steady, risk appetite offers support: NAB</a></li><li><a href="https://investinglive.com/forex/icymi-bessent-yuan-weakness-a-bigger-problem-for-europe-than-the-us-20250919/">ICYMI: Bessent: Yuan weakness a bigger problem for Europe than the U.S.</a></li><li><a href="https://investinglive.com/news/trumps-team-is-considering-a-550bn-fund-to-boost-factories-energy-and-critical-sectors-20250919/">Trump’s team is considering a $550bn fund to boost factories, energy and critical sectors</a></li><li><a href="https://investinglive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-71128-vs-estimate-at-71174-20250919/">PBOC sets USD/ CNY reference rate for today at 7.1128 (vs. estimate at 7.1174)</a></li><li><a href="https://investinglive.com/centralbank/china-state-press-fed-cut-eases-pressure-gives-pboc-more-policy-room-20250919/">China state press: Fed cut eases pressure, gives PBoC more policy room</a></li><li><a href="https://investinglive.com/Cryptocurrency/could-bitcoin-hit-us1mn-yes-heres-what-it-would-take-4-key-requirements-20250919/">Could Bitcoin hit US$1mn. Yes. 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Don't hold your breath.</a></li></ul><p data-start="118" data-end="576">The focus was firmly on Japan today. August national inflation showed core CPI slowing to 2.7% y/y, in line with forecasts and easing from 3.1% in July, though still above the BoJ’s 2% target. The core-core index (excluding both fresh food and fuel), a key gauge of underlying trends, rose 3.3% y/y, down slightly from 3.4% in July. The data offered only modest relief for households but remain strong enough to keep the BoJ cautious.</p><p data-start="578" data-end="703">Attention now turns to the Bank of Japan’s policy decision, with the Bank widely expected to leave its main rate unchanged.</p><p data-start="705" data-end="758">Elsewhere, major FX rates traded in subdued ranges.</p> This article was written by Eamonn Sheridan at investinglive.com.

<p>With the Autumn Budget set for 26 November, former UK chancellor Jeremy Hunt warned that Chancellor Rachel Reeves faces a “black hole” of up to £50bn in public finances. </p><p>Speaking at the Guinness Global Investors Annual Conference in London, Hunt said:</p><ul><li>“The main issue for the government is the high level of debt… That’s why it will be a very difficult budget. And the job has become a lot harder.”</li><li>He added that Reeves must balance borrowing against tax rises, stressing: “To increase spending, tax has to be raised and to cut spending, taxes can fall.”</li><li>Hunt cautioned that Britain must get debt under control, noting: “France is already in a catastrophic situation with its high level of debt. While Germany can afford to increase its debt. The US also has high debt levels.”</li></ul><p>---</p><p>Signals tight fiscal outlook as Labour navigates growth and spending pressures. Market-impact:</p><p> Gilts: Warning of tough fiscal stance could weigh on demand if tax hikes bite growth</p><p>GBP: Prospects of higher taxes may temper sterling, though credibility on debt is supportive</p><p> Equities: Consumer sectors vulnerable to tax hikes; investors wary of reduced disposable incomes</p> This article was written by Eamonn Sheridan at investinglive.com.

<p class="article__title title"><a href="https://investinglive.com/forex/china-says-itll-introduce-another-new-policy-to-boost-consumption-20250916/" target="_blank" rel="follow" data-article-link="true">China says it'll introduce another new policy to boost consumption</a></p><p> That link above is to a policy announcement made earlier this week. More detail now:</p><ul><li>China’s Ministry of Commerce and eight other departments issued a plan to expand and upgrade “15-minute convenience living circles,” neighbourhood hubs providing daily services within walking distance. </li><li>By 2030, Beijing aims to establish 10,000 such circles across 100 pilot cities, covering all prefecture-level urban areas and eligible county-level communities. </li><li>The initiative also calls for 500 “Silver Hair Golden Streets” for seniors, 500 “Children’s Fun Parks,” and improvements to quality, services, and digital efficiency. </li><li>Targets include a resident satisfaction rate above 90% and raising the share of chain commercial outlets to 30%.</li></ul><p>As it said earlier in the week, the aim is to boost consumption. If it works that'll be a positive for China's economy.</p> This article was written by Eamonn Sheridan at investinglive.com.

<p data-start="113" data-end="483">President Trump’s administration is considering a sweeping program to boost U.S. manufacturing, according to documents and people familiar with the talks says a Wall Street Journal report (gated). </p><p data-start="113" data-end="483">The plan would tap a $550 billion fund created during trade negotiations with Japan to invest in sectors such as semiconductors, pharmaceuticals, critical minerals, energy, shipbuilding, and quantum computing.</p><p data-start="485" data-end="874">Some projects could receive preferential treatment, including fast-tracked regulatory reviews and access to federal land or water through special leases. The initiative would expand Trump’s direct involvement in industry, following earlier moves such as securing a government stake in Intel, obtaining a “golden share” in U.S. Steel, and winning a cut of certain chip sales to China.</p><p data-start="876" data-end="982">The proposals are still under discussion, and officials caution details could change before any rollout.</p> This article was written by Eamonn Sheridan at investinglive.com.