Forex news for Asia trading for Monday 15 February 2021
- The oil price rise after the weekend - Mid East tensions cited
- Japanese PM Suga says closely watching FX
- Offshore yuan, CNH, gains further, to its highest since mid-2018
- Bitcoin taking a tumble in Asia trade
- Australia's health minister says first doses of Pfizer vaccine have arrived in the country
- GBP a strong gainer in Asian Monday trade
- UK property (Rightmove) prices data hints that demand will continue even after 'incentive cliff' at the end of March
- FX option expiries for Monday February 15 at the 10am NY cut
- Japan economy minister Nishimura says Q4 GDP result point to potential economic recovery
- New Zealand reported zero new COVID-19 cases in the community today
- Israel shows "Pfizer’s coronavirus vaccine is extremely effective in the real world"
- Japan economy minister Nishimura says economy recovery at half-way point
- Singapore Q4 GDP +3.8% q/q and -2.4% y/y
- South Korea first 10 days of February exports +39.3% / working day
- Japan preliminary GDP for Q4 (sa) 3.0% q/q (expected 2.4%)
- Elon Musk tweets on Dogecoin - too much concentration
- TD says the $1.9tln US economic stimulus package is not priced in, rates to rise further
- Monday is US holiday. Enjoy the peace and quiet because there is a tsunami of Fed speakers to follow.
- Trade ideas thread - Monday 15 February 2021
- New Zealand services PMI for January 47.9 (prior 49.2)
- Hong Kong is closed again today for a holiday
- Here is the European Central Bank Valentine's day poem they tweeted
- Japan's coronavirus vaccination program to begin this week after Pfizer vaccine approved on Sunday
- Monday morning open levels - indicative forex prices - 15 February 2021
- New Zealand - Auckland goes into 3-day lockdown
- February central bank overview: Part 2
- $150bn Morgan Stanley unit considering a stake on bitcoin
- February central bank overview: Part 1
There were a few moves across the FX space characterised, in summary, by a weaker USD, GBP outperformance and NZD lagging. These were left in the dust by the cryptos though which all fell in substantial moves (see bullets above) with Bitcoin dropping (very) briefly under $46K before a partial rebound.
While NZD/USD is higher on the session it trailed after a 3-day lockdown was imposed on the country's largest city over the weekend in response to three new cases of COVID-19 in the community.
Japan's Nikkei 225 average hit 30,000 for the first time since August 1990. This is not just a curious historical event but has a degree of significance since it came on a day when oil prices continued their surge higher (WTI hit a high above $60 a barrel for the first time since early January 2020). The reflation trade appears healthy, further supported by Q4 GDP from the country handily beating the central median estimate.
Q4 GDP from Singapore was also on the better side, despite falling 2.4% y/y that was not as bad as the 'advance' reading that came in at -3.8% and the median analyst estimate of -3.5%.
The offshore Chinese yuan hit its highest since June of 2018. EUR/JPY hits its highest since December of 2018.
