News

The Bank of Japan is kick-starting its two-day policy meeting, where it is expected by most economists to keep policy rates steady.

Mark Zuckerberg on Wednesday unveiled the $799 Meta Ray-Ban Display glasses, the company’s first consumer-ready glasses with a built-in display.

At Meta Connect 2025, Mark Zuckerberg unveiled the company’s new Meta Ray-Ban Display smart glasses, a next-generation wearable that blends a camera with a built-in display to deliver true augmented reality. The $799 device, available from September 30 in black or sand with transition lenses, is being positioned as Meta’s answer to the long-defunct Google Glass.

The glasses pair with a neural link wristband that converts subtle muscle movements into controls — rotating your wrist to adjust music volume or tapping your fingers to compose a text. While Zuckerberg demonstrated the functions live, not all features ran smoothly, with the system failing to register a WhatsApp call command.

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

At Meta Connect 2025, Mark Zuckerberg unveiled the company’s new Meta Ray-Ban Display smart glasses, a next-generation wearable that blends a camera with a built-in display to deliver true augmented reality. The $799 device, available from September 30 in black or sand with transition lenses, is being positioned as Meta’s answer to the long-defunct Google Glass.

The glasses pair with a neural link wristband that converts subtle muscle movements into controls — rotating your wrist to adjust music volume or tapping your fingers to compose a text. While Zuckerberg demonstrated the functions live, not all features ran smoothly, with the system failing to register a WhatsApp call command.

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

The data from New Zealand was very disappointing indeed:

• New Zealand Q2 GDP -0.9% q/q (vs. -0.3% expected)

-0.9% is three times worse than what was expected.

Its prompted forecasts for more interest rate cuts from the Reserve Bank of New Zealand, Westpac tipping 75cp soon:

• Westpac forecasts Reserve Bank of New Zealand rate cuts in October and November

NZD/USD extending down towards 0.5920.

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

The data from New Zealand was very disappointing indeed:

• New Zealand Q2 GDP -0.9% q/q (vs. -0.3% expected)

-0.9% is three times worse than what was expected.

Its prompted forecasts for more interest rate cuts from the Reserve Bank of New Zealand, Westpac tipping 75cp soon:

• Westpac forecasts Reserve Bank of New Zealand rate cuts in October and November

NZD/USD extending down towards 0.5920.

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

Westpac now expects the Reserve Bank of New Zealand to step up its easing cycle, forecasting the Official Cash Rate will be lowered to 2.5% at the October meeting and then cut again to 2.25% in November.

• 50bp cut followed by a 25bp cut

The bank said the RBNZ faces mounting pressure to loosen policy more aggressively as growth slows and inflation moderates, leaving scope for back-to-back moves before year-end.

This comes after the terrible data earlier:

• New Zealand Q2 GDP -0.9% q/q (vs. -0.3% expected)

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

People’s Bank of China USD/CNY reference rate is due around 0115 GMT.

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

How the process works:

• Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day’s trading.
• The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
• Intervention: If the yuan’s value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency’s value.

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Th rate cut from the Fed trims the rate gap between the dollar and the yuan. At the margin this is bearish for USD/CNY. Shorts have built in the dollar, so there is that to contend with.

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

Japan core machine orders data for July 2025. These data are a leading indicator of capital spending in the coming six to nine months. It’s a volatile data set.

-4.6% m/m

• expected -1.7%, prior 3.0%

+4.9% y/y

• expected +5.4%, prior +7.6%

The y/y headline flattered the data, that m/m is terrible.

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The Bank of Japan statement is due tomorrow, on hold is expected:

• Bank of Japan meeting begins today, rates expected to kept on hold – Nikkei report

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

The Hong Kong Monetary Authority (HKMA) adjusts its interest rates in line with the U.S. Federal Reserve’s decisions primarily because of the linked exchange rate system between the Hong Kong Dollar (HKD) and the United States Dollar (USD).

Established in 1983, this system pegs the HKD to the USD within a narrow band, currently at a rate of about 7.8 HKD to 1 USD, with allowable fluctuations within a tight range.

To keep the currency peg stable, the HKMA must adjust its interest rates to be in line with those of the USD. If the interest rates in Hong Kong were significantly higher than those in the U.S., it would attract a flow of USD into Hong Kong, increasing the demand for HKD and potentially pushing the exchange rate outside its designated band. Conversely, if Hong Kong’s rates were much lower, it would encourage outflows of HKD in exchange for USD, again risking the stability of the peg.

You’ll note the HKMA benchmark rate is above the Fed’s. The HKMA shadows the Fed to maintain the peg but keeps its base rate about 50 basis points higher as a built-in buffer. This ensures investors don’t always prefer USD over HKD, supporting currency stability.

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