Forex news for Asia trading Thursday 14 November 2019
- Australian jobs report earlier today confirms there is plenty of slack in the economy
- Recap of the Japan Q3 GDP data out earlier (it missed)
- Responses to the Australian jobs data - enough to sustain RBA easing bias
- Responses to the Australian jobs data coming in - RBA "has a lot more work to do"
- China data - miss for industrial production and retail sales in October - more
- China October: Industrial Production 4.7% y/y (vs. expected 5.4%) & Retail sales 7.2% y/y (vs. 7.8% expected)
- RBA's Bullock spoke earlier - wary of a snap back in inflation
- PBOC sets USD/ CNY reference rate for today at 7.0083 (vs. yesterday at 7.0026)
- FX option expiries for Thursday November 14 at the 10am NY cut
- Fed's Harker: FOMC should hold steady
- More on the Australian jobs data (trend data not so bad … AUD does not care, drops)
- Australian dollar drops on the big miss on jobs report
- Australian jobs report - Unemployment rate 5.3% (vs. 5.2% expected)
- RBNZ dep gov Bascand - if we need to we can move rates in February
- UK data - RICS monthly house price balance for October -5% vs. -3% expected
- Yen response to the Japanese Q3 GDP data … errr …. was there any?
- Japan GDP (preliminary) for Q3 0.1% q/q (vs. expected 0.2%)
- ICYMI - China's Premier Li Keqiang highlights need for more support for the real economy
- Here is why Goldman Sachs is wrong on negative rates
- Here's a trade recommendation to buy the NZD following that RBNZ decision
- Trade ideas thread - Thursday 14 November 2019
- Private oil inventory survey shows a headline draw in US crude
The Australian dollar was a mover in Asia today, it dropped on the release of the October labour market report which showed a tic up for the unemployment rate and unexpected fall in job creation. Unexpected to the extent that forward indicators have been pointing to a likely slowing in the jobs market .... they have been for a while but the monthly jobs report has been holding up ... but today there was a fall in jobs reported.
A further weight was added to the AUD by the misses on Chinese 'activity data' for October. Industrial production, retail sales, investment - all came in below the consensus estimate for the month.
NZD was dragged down alongside the AUD.
EUR, GBP also dropped against the USD while the yen gained a few points. Ranges for all of these were small only.
