Forex news for Asia trading Monday 14 October 2019
- ConocoPhillips to sell its operations in northern Australia to Australia's Santos
- China trade balance data complete now
- China's year to date exports to the US are down 10.7% y/y
- China trade data for September: imports and exports both lower than expected
- Morgan Stanley like AUD/JPY
- AUD, NZD both lower.
- Australia's AMP Capital says "ongoing pressure on the RBA for further interest rates cuts"
- PBOC sets USD/ CNY reference rate for today at 7.0725 (vs. Friday at 7.0727)
- FX option expiries for Monday October 14 at the 10am NY cut
- Goldman Sachs on what it'll take for GBP to sustain its rally (spoiler - Brexit progress)
- Japan, US holidays Monday 14 October 2019
- Singapore central bank slightly reduces slope of SGD band
- Singapore Q3 (advance) GDP 0.6% q/q (annualised) vs. 1.2% expected
- Australian jobs report is due this week - once again eyes on the unemployment rate
- Monetary policy easing expected from Singapore's central bank today
- Citi says it remains cautious on an 'eventual' US-China trade deal
- (From Saturday) - Brexit - DUP says North Ireland must stay in full UK customs union
- US - China agreement "more symbolic than substantial" - no need to revise AUD and NZD forecasts
- New Zealand services PMI for September: 54.4 (prior 54.6)
- Goldman Sachs says yuan to decline further after the trade tension pause
- ECB's Holzmann calls current monetary policy 'wrong', hopes for new course under Lagarde
- Trade ideas thread - Monday 14 October 2019
- Bitcoin down a few hundred dollars early Monday
- BoE's Ramsden says if there is another Brexit extension, sees less of a case for more policy accommodation
- Reports of little progress in weekend Brexit talks - deal by Oct 31 looks unlikely
- Monday morning open levels - indicative forex prices Monday 14 October 2019
- Tokyo faces strongest typhoon since 1958
- Brexit: DUP deputy warns that Boris Johnson's Brexit deal "cannot work"
- The volatility playbook for the week ahead
It appeared the reality of the flimsy result of the US-China trade talks continued to sink in during Asia FX today. AUD, NZD both fell, as did USD/JPY and USD/CHF. Gold was steady while oil slipped away a little also. Moves were certainly not large though.
Fresh news and data on the session were light. We did get Chinese trade balance data for September, showing a slide for both exports and imports. The yuan showed strength, with USD/CNH down through 7.06.
Cable traded lower in the very early hours of the session, off 50+ points from late Friday levels. The Brexit news over the weekend was a bit of a cold shower, with the DUP (UK PM Johnson's support in the House of commons) saying Northern Ireland must stay in a customs union with the UK. Separately, EU chief Brexit negotiator Barnier expressing little optimism on an agreement ahead of or at the leader's summit this week.
GBP/USD subsequetly retraced its early loss but has since come back down towards session lows as I post.
Trading was thinned out somewhat here in Asia today by a Japanese holiday and there will be more ahead with the Columbus day holiday in the US and Thanksgiving holiday in Canada.
