Forex news for Asia trading for Tuesday 12 January 2021
- Australia - the ACT will lift restrictions on NSW Central Coast and Wollongong, and some areas of Sydney
- Moody's have a negative outlook on Asia-Pacific sovereigns for 2021
- Magnitude 5.9 earthquake Japan - Hokkaido region
- Credit Suisse on EUR/USD - support and resistance levels
- Japan proposes another 3 prefectures for state of emergency declaration
- Japan finance minister Aso says to provide 400,000 yen to hard-hit small firms
- Malaysia has declared a COVID-19 state of emergency
- 101 people evacuated from a flight at Baltimore/Washington Int’l Airport after a threat
- New England Patriot Bill Belichick will not accept the Presidential Medal of Freedom
- PBOC sets USD/ CNY reference rate for today at 6.4823 (vs. yesterday at 6.4764)
- FX option expiries for Tuesday January 12 at the 10am NY cut
- US media reports Trump and Pence met, agreed to work together for the remainder of their term
- New Zealand has tightened its rules on testing arrivals into the country for COVID-19
- Bitcoin fraud? Allegations that Bit Digital (BTBT) a fake cryptocurrency business
- US cracking on - vaccinations rose by a record 1.25m doses
- (ICYMI) Goldman Sachs forecasts oil (Brent) to $65 by the northern summer
- More from Fed's Kaplan - hopeful later this year will meet 'substantial progress' bar for tapering QE
- Fed's Kaplan speaking - sees a contraction in the order of 2.25 to 2.5% for US GDP in 2020
- The UK's Sunak says the economy will get worse before it gets better
- Australia weekly consumer sentiment survey to 108.9 from 109.0 prior
- Goldman Sachs still bearish USD
- The President of Portugal has returned a positive COVID-19 test
- Magnitude 6.8 earthquake near the Russian border
- Morgan Stanley is no longer looking for further USD weakness, turn neutral
- Fed's Barkin projecting 'hurt' for the US in Q1 and H1 but H2 will be stronger
It was a mixed day across the major FX board and tight ranges all 'round also.
Impactful news flow was light, although we did hear from some talking heads at the Federal Reserve canvassing a tapering of QE should circumstances improve this year. The taper talk is increasing and its helping US yields to edge higher and support the US dollar.
The prospect of further domestic terrorism in the US was raised again with a plane evacuated due to threat and the US admin issuing an emergency declaration for Washington until January 24 (covering the inauguration date and a little beyond).
Gold added on a few dollars during the session and there was nothing about to rock Bitcoin, which has steadied above US$34,00 for now.
This looks dramatic but it shows tiny moves:
