Daily Global Foreign Exchange Market News Brief (January 2)
US Dollar:
1. Goldman Sachs: Downgraded the Federal Reserve's interest rate cut forecast for this year from 100 basis points to 75 basis points.
2. European Central Bank President Lagarde: Hopes that the ECB can achieve a 2% inflation target by 2025.
3. Bank of Korea Governor Lee Chang-yong: Monetary policy needs to remain flexible; the downside risks to the 2025 GDP growth expectation of 1.9% have increased.
4. South Korean Ministry of Finance: The 2025 economic growth forecast has been lowered to 1.8%, with an inflation expectation of 1.8%; no additional budget proposals are being considered.
5. South Korean Ministry of Finance: Starting from mid-January, South Korea will allow registered foreign financial institutions to engage in foreign exchange trading, including import and export settlements.
6. South Korean Public Administration Office: The earliest execution of detention for Yoon Suk-yeol will be on the 2nd.
7. Bank of Thailand meeting minutes: Looking ahead, the Thai economy faces increased uncertainty, primarily due to the impact of U.S. economic policy.
8. Bank of Indonesia: Intervened in the foreign exchange market to maintain supply-demand balance under pressure on the Indonesian rupiah, as domestic foreign exchange supply has not yet returned to normal due to holidays.