ForexLive Asia-Pacific FX news wrap: Major FX, minor ranges

• Qatar warns it will halt gas supplies to Europe if fined under EU due diligence law
• HSBC still sees Fed rate cuts ahead, another 75bp next year. Higher stocks & USD also.
• China hints at further measures to support the recovery of its property market.
• US PCE data – “core inflation didn’t print low enough to prevent a January Fed pause”
• Honda and Nissan are set to announce launch of integration talks
• PBOC sets USD/ CNY reference rate for today at 7.1870 (vs. estimate at 7.2880)
• Goldman Sachs have revised their US inflation forecast higher, citing Trump tariffs
• Trump complains of Panama Canal fees rip off – may demand it be returned to US, in full
• Canadian PM Trudeau not planning to step down — report
• Slovak PM Fico said Putin confirmed readiness to continue supplying gas to the West
• Trade ideas thread – Monday, 23 December, insightful charts, technical analysis, ideas
• Monday morning open levels – indicative forex prices – 23 December 2024
• ECB’s Vujcic says the Bank’s “direction is clear … further reduction of interest rates”
• Forexlive Americas FX news wrap: PCE inflation unexpectedly cools

It
was a relatively quiet beginning to the holiday-interrupted week. The
economic data agenda was sparse, as was fresh news flow.

Major
FX tracked narrow ranges only and rates are currently little changed
from late Friday New York levels.

Regional
equities in Japan and China (mainland and Hong Kong) are a touch
higher as I post, following the Wall Street lead from Friday.

In
commodity news we had Slovak PM Fico saying Putin confirmed readiness
to continue supplying gas to the West. The two met over the weekend
in Moscow. We also had the Qatari energy minister threatening to
block LNG exports to the EU. More on each of these in the points
above.

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