Forex news for Asia trading Friday 1 November 2019
- Recap of the 2nd manufacturing PMI from China for October - difficult divergence
- Australia press on "Why the RBA will keep cutting rates"
- China - Caixin/Markit Manufacturing PMI for October: 51.7 (expected 51.0, prior 51.4)
- More on today's North Korean missile test
- PBOC sets USD/ CNY reference rate for today at 7.0437 (vs. yesterday at 7.0533)
- Japan Manufacturing PMI (final, October): 48.4 (preliminary 48.5, prior 48.9)
- Australia PPI for Q3: 0.4% q/q (prior 0.4%)
- South Korean exports data for October are ugly again
- Here is the Japan jobs report: September unemployment rate 2.4% (expected 2.2%)
- Australia CoreLogic house prices for October: +1.4% m/m (prior +1.1%)
- Japanese PM Abe to call for further stimulus measures re disaster recovery
- US imposes further sanctions on Iran
- Australia - CBA/Markit Manufacturing PMI for October (final): 50.0 (preliminary 50.1, prior 50.3)
- USD/JPY range forecast for the week ahead
- Australia - AiG Manufacturing PMI for October: 51.6 (prior 54.7)
- North Korea says it successfully test-fired super-large multiple rocket launcher
- New Zealand - ANZ Consumer Confidence Index for October : +4.0% m/m (prior -3.6%)
- BBC reports on who is favourite to be next Bank of England Governor (spoiler: Shafik)
- Trade ideas thread - Friday 1 November 2019
- US Treasury to weaken corporate inversion rules
The second manufacturing PMI from China for October was published today, the Caixin/Markit private survey. Its a different survey to the one used for the official PMI that we saw yesterday. And it was a much different result! While the official PMI dropped further into contraction and missed estimates big time, today's data point showed a big jump further into expansion, and beat estimates. More in the bullets above.
Which version of the manufacturing PMI do you like, the official or today's?
Currencies had already been on the up against the USD earlier and the result gave some of them a further boost. AUD, naturally, gained, as did NZD notably. EUR and GBP consolidated their earlier gains also. USD/CAD slipped further but USD/JPY has done little on the session to be barely changed as I update.
Otherwise news flow was light indeed and data of little impact.
Still to come:
