Forex news for Asia trading for Monday 14 December 2020
- Westpac expect the RBA to continue with more QE in 2021, 2022
- Monday 14 December 2020 is Electoral College voting day in the US
- Tokyo's Governor Koike will hold a press briefing Monday on further coronavirus measures
- More on China's state planner moves to cap the price of coal
- BOJ Tankan business sentiment survey recap - improving, but with plenty of buts
- Westpac on the Australian dollar - on its way to 0.82
- China November new home prices +0.1% m/m and +4.0% y/y
- Thermal coal futures in China are limit down following official requests
- PBOC sets USD/ CNY reference rate for today at 6.5361
- FX option expiries for Monday December 14 at the 10am NY cut
- Canada's PM Trudeau announces the first batch of coronavirus vaccine has arrived
- A big ForexLive THANK-YOU to our 250,000 Twitter followers!
- Weekend news - Peru suspends Sinopharm COVID-19 vaccine trial after 'adverse event'
- UK manufacturing industry slashes its growth outlook nearly in half on Brexit 'Knockout blow'
- BOJ Q4 Tankan report: Large ManufacturingIndex improves, still negative
- Front page of the UK Times expresses optimism on Brexit trade talks
- Trump wants to sign $1,200 checks, urges Congress to pass coronavirus relief
- Wall Street Journal with more on the foreign government breach of US Treasury
- The US Treasury breach is said to be by state-backed hackers
- UK car factories could be shut down early next year, Brexit trade deal or no deal
- Trade ideas thread - Monday 14 December 2020
- Trump, top officials, White House staffers to be offered COVID-19 vaccine this week
- New Zealand data - November services PMI comes in at 46.7
- Brexit trade talks update - 'exchange of views' scheduled for Monday at 9.30am
- New Zealand stock exchange will not open on its usual timetable, pre-open has been extended
- Monday morning open levels - indicative forex prices - 14 December 2020
- Germany moves closer to harder lockdown - report
- Brexit: Everything still on the table as we approach supposed "point of finality"
Cable was the big mover here during the Asian session, surging in the early hours after Brexit optimism resurfaced over the weekend with the two sides set to continue trade talks. GBP/USD surged in very early trade, heading towards 1.3390 before retracing some of its rise (pullback lows have been just under 1.3300).
Other currencies have generally moved higher, to varying extents with the Australian dollar a notable laggard. Optimism was also fuelled by news that further stimulus measure will be attempted in the US Congress on Monday, and House Leader Pelosi an Treasury Secretary Mnuchin will continue their talks. The Australian dollar was held back by developments in China, notably the falling price of iron ore (please see the bullets above for more on this, it was a China state action to lower the price) as well as softness ion the price of iron ore. China's Iron and Steel Association issued a statement over the weekend saying the price of iron ore has diverged from fundamentals, blaming speculation.
