**Japan’s Yen Update:**
- Japan is monitoring currency movements closely.
- Officials hint at possible intervention regarding the yen.
**China Economic Insights:**
- PBOC Governor announces a 0.2% cut to the 7-day reverse repo rate.
- The PBOC launches a new relending facility to support the stock market.
- Economic indicators in China show positive changes.
- Governor provides guidance for stock buybacks.
- China’s September retail sales rise 3.2% y/y, exceeding expectations.
- Q3 GDP growth in China hits 4.6% y/y, beating forecasts.
- New house prices drop 5.7% y/y in September.
- The PBOC sets today’s USD/CNY reference rate at 7.1274.
- The PBOC emphasizes the need for support to the real economy.
**Other News Summary:**
- US politics: A significant document release related to Trump’s trial is expected Friday.
- Confirmed: Chinese banks cut fixed deposit rates by 25 bps.
- Japan’s September CPI remains at +2.5% y/y, meeting expectations.
- Japan CPI data is scheduled for release at 2330 GMT.
- NAB predicts a rate cut from the Reserve Bank of Australia in early 2025.
- Trump tariffs could significantly affect the Midwest and South US states.
- UBS expects more ECB rate cuts moving into 2025.
- RBC forecast more ECB rate cuts soon.
- TD expresses pessimism regarding the euro following ECB decisions.
- Kim Jong Un labels South Korea as hostile.
- MIT AI Summit names OriginTrail the top decentralized AI project.
- Deutsche Bank anticipates quicker ECB rate cuts ahead.
- IMF warns China needs reforms, likens situation to ‘trouble’.
- Treasury Secretary Yellen cautions that Trump’s tariffs could spike inflation.
- Forexlive FX news: ECB cuts rates, US retail sales outperform predictions.
- US stock markets close mixed, with S&P and NASDAQ losing gains.
- Trade ideas for Friday, 18 October, featuring charts and analysis.
In summary, Japan’s inflation data arrived as expected, but the overall market response has been muted, with USD/JPY fluctuating slightly around 150.20. Meanwhile, China reported an encouraging set of economic data for September, including better-than-expected retail sales and GDP growth. Observers note the government’s increasing measures to stimulate the economy.
