Forex news for Asia trading Friday 12 June 2020
- More from the UK (Brexit news) - extension to be formally ruled out Friday
- Barclays bump up their forecasts for oil prices, recovery to slow
- RBA a long way from negative rates
- China infrastructure investment over the next 5years expected to be $1.4 trillion
- PBOC sets USD/ CNY reference rate for today at 7.0865 (vs. yesterday at 7.0608)
- FX option expiries for Friday June 12 at the 10am NY cut
- Westpac have raised their forecasts for AUD/USD
- Oil extending its fall
- Bank of England monetary policy meeting for June - preview
- US is considering suspending H-1B visas through to October
- Less certainty on the RBNZ moving to negative rates
- Japan press reports the country will extend visa restrictions another month
- New Zealand - BusinessNZ manufacturing PMI for May: 39.7 (prior 26.1)
- US Sec State Pompeo says Turkish court conviction of US Consulate employee harms relations
- Goldman Sachs note the US dollar medium-term fundamentals are "poor"
- Uh-oh … here come the Novavax headlines
- North Korea says the US is 'hell-bent' on exacerbating tensions
- US coronavirus surge - Houston area 'getting close' to reimposing stay-at-home order
- Guggenheim CIO Minerd says S&P500 likely to go back to March lows, then further
- Houston is preparing plans to reopen a coronavirus hospital (hope for the best, plan for the worst, right?)
- Trade ideas thread - Friday 12 June 2020
- UK has abandoned its plan to introduce full border checks with the EU on January 1
US equity index futures showed a bit of life, with small bounces (circa 1%) after the massive downdrafts (circa -6 to -7%) they saw on Thursday. Local stock markets all opened, and traded, down but got at least some respite (could have been worse!) from the US overnight stabilisation.
Currencies continued their decline against the USD though (before showing small bounces). AUD/USD, for example, traded to circa 0.6800 before scraping back some its losses.
EUR, CAD, GBP, NZD followed similar patterns of behaviour on the session.
USD/JPY found support at its overnight low around 106.60 and has gained 25 or so points since.
There was little news nor data of note.
The FOMC meeting was such fun they've decoded ...
