Forex news for Asia trading Tuesday 15 October 2019
- Japan analyst says USD/JPY to 110 by the end of 2019
- (this is not FX) South Korea and North Korea play a soccer match Tuesday 15 October 2019
- CBA on the next RBA rate cut - forecast is Feb 2020, but ….
- NZD at fair value while AUD sits below
- BBC report on "EU mulls new emergency summit to 'get Brexit deal done' "
- AUD, NZD higher after the stronger CNY mid rate setting
- China Sept. CPI: 3.0% y/y (expected 2.9%) & PPI -1.2% y/y (expected -1.2%)
- ‘Back Door’ capital outflows from China, record H1 high of $131 bn
- PBOC sets USD/ CNY reference rate for today at 7.0708 (vs. yesterday at 7.0725 )
- FX option expiries for Tuesday October 15 at the 10am NY cut
- BOJ Gov. Kuroda says will maintain easing as long as needed
- Oct. RBA minutes: Prepared to ease further if needed to support growth and jobs
- Japan's PM Abe says the economic impact from the weekend typhoon may be prolonged
- NZD traders - heads up for the GDT dairy auction coming up Tuesday, London time
- USD up trend is 99 months old soon. Is it over? No, another 12-24 months still to come
- Australian weekly consumer confidence falls again, to 110.9 (prior 112.3)
- Ten mistakes all successful FX traders should avoid
- Mnuchin, Pence comments on sanctions on Turkey
- NZ tourism numbers, up 1.8% y/y
- Trade the most exciting forex pair with SimpleFX
- GBP higher in very early Asia - here's why ICYMI (spoiler: Brexit innit?)
- Trade ideas thread - Tuesday 15 October 2019
- Brexit - slightly more positive reports coming out on deal progress
- New York Fed’s Empire State business-conditions index came out early
- Trump says he will be raising steel tariffs on Turkey
The prospects of a Brexit deal were reported more positively again early in the session here, sending cable from around 1.2560 up to test towards its Monday high circa 1.2640. It has since come back just a little and is steady (as I update) around 1.2615/20.
In news around the same time US President Trump announced sanctions and tariffs on Turkey. USD/TRY moved towards 5.9320 but the impact of the news blunted a little by being not unexpected. We await the opening of markets in Turkey and Europe/UK to gauge further impact.
We had some central bank activity, with Reserve Bank of Australia October meeting minutes released and also a speech from Bank of Japan Governor Kuroda. AUD and yen impacts on each were not large.
The RBA minutes indicated the Bank is ready to cut again, but they did express wariness on newly rising house prices. Kuroda stuck to the 'we will keep on easing as long as necessary' script we are all familiar with.
Later we got the daily USD/CNY mid-rate setting from the People's Bank of China, the Bank giving a small boost to the onshore yuan and this had an impcat, sending AUD uo it ssession highs, and kiwi. Ranges were not large though and both have subsequently retraced.
China September CPI and PPI followed, both moving at their largest for many years (see bullets above) ... in opposite directions!
EUR/USD is little chnaged on the session here, up just a touch, USD/JPY iss down a few points only. USD/CAD dropped back from its North American time high but recovered most of the drop. Gold has edged up a few dollars.
