Forex news for Asia trading for Tuesday 15 December 2020
- Goldman Sachs says oil, commodities to keep on going higher
- China official comments on the imprisonment of a Bloomberg staff member
- US Senate leader McConnell says its time to find consensus on COVID-19 relief
- More from China's stats bureau - says policy changes could be made as economy improves
- China officials comment following November activity data - Q4 GDP to outpace Q3
- Australian PM Morrison does not accept China has banned imports of Australian coal
- S&P500 technical analysis 'suggests 3800' early next year
- China November Industrial Production 7.0% y/y (vs. expected 7.0%)
- PBOC injects 950bn yuan via one-year Medium-Term Lending Facility (MLF)
- JP Morgan lay out a scenario where demand for bitcoin surges an additional $600bn
- PBOC sets USD/ CNY reference rate for today at 6.5434 (vs. yesterday at 6.5361)
- FX option expiries for Tuesday December 15 at the 10am NY cut
- US President elect Biden says he is convinced he can work with Senate Republicans
- RBA's Kearns says Australian banks better prepared than they were pre-GFC
- Minutes of the RBA December meeting - prepared to ease further if necessary
- NZD traders - heads up for the GDT dairy auction coming up Tuesday
- Pelosi tells Mnuchin that unresolved issues on COVID-19 relief could be resolved easily
- Comments from Australian trade Minister on China and coal
- Singapore to get Pfizer-BioNTech vaccine by the end of December 2020
- RBNZ says the economic outlook remains highly uncertain, risks tilted to downside
- AUD/USD forecasts via Citi - positive drivers
- US politics - Attorney General Bill Barr quits
- Australia weekly consumer confidence: 111.2 (prior 109.3)
- California's Electoral College voting has finalised - clinches win for Biden
- Rumour is the Bank of Japan will extend its corporate funding program at this week's meeting
- Morgan Stanley says to take a break from USD shorts until January 6
- Trade ideas thread - Tuesday 15 December 2020
- The BOJ policy meeting is this week - here's a trade recommendation ahead of it
- Mixed results in the US stock market today
EUR/JPY has net gained on the session here while major FX against the USD has been confined to small ranges. AUD/USD is a notable loser, prompted by continued tensions with China, this time on speculation China has put a stop to the imports of Australian coal (an overnight report in Chinese state media asserted the ban but nothing further has been confirmed. Also of relevance for the Australian dollar was the release of the Reserve Bank of Australia meeting minutes (for the December meeting) which indicate the Bank is prepared to do more if needed, which trnalstes most likely to further QE enhancement in the new year.
News flow was only light, the oft-repeated hopes for US stimulus got another run with comments from Pelosi (via a spokesperson) and McConnell. Data interest was focused on China, November economic activity data (including industrial production, retail sales and investment figures for the month) were mainly on expectations. Also out ot China, the PBOC injected a net 350bn in a medium-term lending facility operation, a one-year injection and the largest MLF this year. Talk of stimulus wind back in China is premature.
BTC traded above USD19,500.
AUD just plain sucked today.
