Forex news for Asia trading on Friday 1 October 2021
- Premier of Australia's most populous state Berejiklian has resigned
- White House staying optimistic - 'closer to agreement than ever'
- There is a rumour that Premier of Australia's most populous state Berejiklian is to resign
- Australia to reopen international border in November says PM Morrison
- US House delays infrastructure bill vote
- Australian state Victoria extends vaccine mandate
- It appears there will not be a US House vote Thursday evening (US time)
- Federal Reserve speakers coming up on Friday - Mester, Harker
- Australia home loans data for August - lower for owner-occupied, investor loans up
- Japan - Jibun Bank/Markit Manufacturing PMI (final) for September 51.5
- Rabobank says dovish RBA to keep AUD/USD from rising, target 0.71 by year-end
- Heads up for US Trade Representative Katherine Tai to speak on trade with China (on Monday)
- Bank of Japan quarterly Tankan report
- Bank of Japan monetary policy meeting ‘Summary of Opinions’ (September meeting)
- Japan Unemployment rate for August 2.8% (expected 2.9%)
- US President Biden has signed the stopgap funding bill to avoid a government shut down
- Europe has postponed free trade negotiations with Australia
- GMT Australia - Markit Manufacturing PMI for September (final): 56.8
- Skyrocketing gas prices not a problem ... says Exxon. Looking at an extra $1.5bn in Q3 profit
- Australia - AiG Manufacturing PMI for September 51.2 (prior 51.6)
- North Korea says it has test-fired (another) missile
- ICYMI - China's Vice Premier ordered state-owned energy companies to secure supplies for winter “at all costs”
- New Zealand - ANZ Consumer Confidence Index for September 104.5 (prior 109.6)
- Trade ideas thread - Friday 1 October 2021
We had a few minor swings during the timezone here for major FX but the net result is very little change almost across the board. USD/CAD though is higher, from around 1.2665 in late NY time to above 1.2710 as I update. Oil has lost a little ground but the decline for CAD does seem a little outsized for the oil move. Markets do what they do though. As for CAD-specific news there was nothing of real note.
Political news dominated. The US House promised a vote on Thursday evening, delayed it and then, finally, admitted defeat and abandoned the planned vote. Will reconvene on Friday (see bullets above) to try again. In the region here in Asia the leader of Australia's most populous state of NSW resigned as a corruption enquiry against her was launched.
US equity index futures traded down further on Globex (overnight US trade).
China was shut for a holiday today (as was Hong Kong) and will remain on holiday through to October 7.
