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The NZD/USD pair extends the rally to around 0.5710 during the early Asian session on Thursday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as traders expect the US Federal Reserve (Fed) to deliver a further interest rate cut in December. 

The USD/CAD pair holds onto Wednesday’s losses around 1.4030 during the Asian trading session on Thursday. The Loonie pair has been under pressure as the US Dollar (USD) remains fragile due to firm expectations that the Federal Reserve (Fed) will cut interest rates again this year.

Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday, “if economic activity and prices develop in line with the bank’s outlook, the bank will gradually adjust the degree of monetary accommodation.”

China’s industrial profits retreated in October after two strong months, reflecting ongoing weakness in domestic demand and the drag from softer export orders.

• Official data released Thursday showed profits falling 5.5% year-on-year, reversing the 21.6% surge seen in September and the 20.4% gain in August. The -5.5% was the worst in five months.
• Profit gains for the first ten months of 2025 stood at 1.9%, easing from the 3.2% increase recorded through September.
• By ownership, profits for state-owned firms were flat over the first ten months, while private companies posted a 1.9% increase and foreign firms saw a 3.5% rise.

The setback is likely to reinforce calls for stronger policy support to bolster household spending and reduce the economy’s dependence on exports amid persistent tariffs and rising trade barriers.

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The figures underline the structural challenges facing the world’s second-largest economy. Growth momentum has faded sharply, with third-quarter GDP slowing to its weakest pace in a year.

Earlier data showed October retail sales underperformed despite an extended national holiday and the launch of Singles’ Day promotions, while producer prices remained in deflation and factory output grew at its slowest annual rate since August 2024.

Beijing has signalled a shift toward prioritising consumption over the next five years, though it has avoided deploying broad stimulus. High youth unemployment and a prolonged property downturn continue to weigh on confidence. The data cover industrial firms with annual operating revenue above 20 million yuan.

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The data underscores patchy manufacturing momentum, offering limited support for China-sensitive commodities and adding to the argument for further targeted policy support.

This article was written by Eamonn Sheridan at investinglive.com.

China’s industrial profits retreated in October after two strong months, reflecting ongoing weakness in domestic demand and the drag from softer export orders.

• Official data released Thursday showed profits falling 5.5% year-on-year, reversing the 21.6% surge seen in September and the 20.4% gain in August. The -5.5% was the worst in five months.
• Profit gains for the first ten months of 2025 stood at 1.9%, easing from the 3.2% increase recorded through September.
• By ownership, profits for state-owned firms were flat over the first ten months, while private companies posted a 1.9% increase and foreign firms saw a 3.5% rise.

The setback is likely to reinforce calls for stronger policy support to bolster household spending and reduce the economy’s dependence on exports amid persistent tariffs and rising trade barriers.

–

The figures underline the structural challenges facing the world’s second-largest economy. Growth momentum has faded sharply, with third-quarter GDP slowing to its weakest pace in a year.

Earlier data showed October retail sales underperformed despite an extended national holiday and the launch of Singles’ Day promotions, while producer prices remained in deflation and factory output grew at its slowest annual rate since August 2024.

Beijing has signalled a shift toward prioritising consumption over the next five years, though it has avoided deploying broad stimulus. High youth unemployment and a prolonged property downturn continue to weigh on confidence. The data cover industrial firms with annual operating revenue above 20 million yuan.

—

The data underscores patchy manufacturing momentum, offering limited support for China-sensitive commodities and adding to the argument for further targeted policy support.

This article was written by Eamonn Sheridan at investinglive.com.

Bank of Japan board member Asahi Noguchi said the central bank would begin to gradually dial back monetary accommodation if economic activity and prices continue to evolve in line with the BoJ’s current outlook. Speaking on Wednesday, he stressed that achieving “sustainable and stable” inflation requires a steady expansion in demand and a sustained rise in nominal wages, particularly across smaller firms and regional economies. Noguchi reiterated that the durability of wage momentum will determine whether underlying inflation can hold a steady path toward the 2% target.

Although headline CPI growth is expected to ease, he warned that localised chain reactions in price increases could re-emerge — similar to the recent run-up in food prices such as rice — as supply–demand tightness prompts firms to compensate for past delays in passing through costs. Noguchi also said the impact of U.S. tariffs on Japan’s economy has been limited so far.

He added that if the BoJ achieves its inflation target in the latter half of its projection horizon, the bank should adjust interest rates at an “appropriate pace” to stay aligned with that timeline, signalling a gradual and data-dependent normalisation path.

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JPY has been on a gradual upswing so far during the session.

This article was written by Eamonn Sheridan at investinglive.com.

Bank of Japan board member Asahi Noguchi said the central bank would begin to gradually dial back monetary accommodation if economic activity and prices continue to evolve in line with the BoJ’s current outlook. Speaking on Wednesday, he stressed that achieving “sustainable and stable” inflation requires a steady expansion in demand and a sustained rise in nominal wages, particularly across smaller firms and regional economies. Noguchi reiterated that the durability of wage momentum will determine whether underlying inflation can hold a steady path toward the 2% target.

Although headline CPI growth is expected to ease, he warned that localised chain reactions in price increases could re-emerge — similar to the recent run-up in food prices such as rice — as supply–demand tightness prompts firms to compensate for past delays in passing through costs. Noguchi also said the impact of U.S. tariffs on Japan’s economy has been limited so far.

He added that if the BoJ achieves its inflation target in the latter half of its projection horizon, the bank should adjust interest rates at an “appropriate pace” to stay aligned with that timeline, signalling a gradual and data-dependent normalisation path.

—

JPY has been on a gradual upswing so far during the session.

This article was written by Eamonn Sheridan at investinglive.com.

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