Asia Market Movers: Recapping data earlier - New Zealand labour market data reinforces rate cut expectations

Wednesday, 06 Aug, 2025 Central Banks Recapping data earlier - New Zealand labour market data reinforces rate cut expectations New Zealand's labour market remained soft in Q2, reinforcing expectations that the Reserve Bank of New Zealand (RBNZ) will deliver a 25 basis point rate cut at its August policy meeting. Earlier: New Central Banks Deutsche Bank sees BoE cutting again, but says ECB may be done easing Deutsche Bank expects a further divergence in the near-term paths of Europe's two major central banks, forecasting another rate cut from the Bank of England (BoE) this week (the Bank meet Thursday) wh Learn more Central Banks HSBC expects further JPY weakness, BOJ may wait for Fed before next hike HSBC is warning of renewed downside pressure on the Japanese yen in the near term, citing a combination of U.S. monetary policy risks, domestic political uncertainty, and cautiousness from the Bank of Central Banks PBOC is expected to set the USD/CNY reference rate at 7.1797 – Reuters estimate 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 Forex UBS sees AUD/USD poised to rally, eyes 0.70 target by early 2026 UBS says the Australian dollar is well-positioned to benefit from a broad rotation out of the U.S. dollar, with strategists identifying the AUD/USD as an attractive long opportunity at current levels. Technical Analysis 10-Year Yield Futures Analysis Today | tradeCompass Micro 10-Year Yield Futures Technical Analysis with tradeCompass (August 6, 2025) The tradeCompass snapshot Current Price: 4.216% Bullish above: 4.230 Bearish below: 4.224 Primary Bias: Bearish (at th News Japan wages rise y/y, but inflation adjusted wages continue to fall Japan Labour Market Data – June Nominal Cash Earnings (y/y): +2.5% (vs. +3.1% expected; prior +1.0%; revised prior +1.4%) Real Cash Earnings (y/y): –1.3% ... this is the sixth straight month of declin Stock market update HSBC lifts S&P 500 target to 6,400, citing AI momentum and easing policy uncertainty HSBC has raised its year-end 2025 target for the S&P 500 to 6,400, pointing to continued strength in the technology sector and diminishing policy risks as key drivers of upside. The upgrade, issue Learn more News New Zealand Q2 Unemployment rate 5.2% (vs. expected 5.3%) New Zealand Q2 2025 jobs report: More: Private sector wages (excluding overtime) +2.2% y/y (expected +2.3%) and +0.6% q/q (expected +0.6%) That 5.2% unemployment rate, the highest in nearly 5 years,&n

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