Forex news for Asia trading Tuesday 19 February 2019
- Central Asia … US out … China in
- BOJ's Kuroda: Mulling further easing
- RBA minutes were out today, analyst responses coming in
- Analyst says euro shaky, still potential negatives to be priced in
- NZD traders note - NZ says 2nd species of fruit fly found in Auckland
- Nomura on job seeking in China … up substantially
- White House Press Sec says China trade talks start in Washington Feb 19
- PBOC sets USD/ CNY central rate at 6.7642 (vs. yesterday at 6.7659)
- China's Vice Premier to visit Washington to continue trade talks
- Trump's wall latest - states file suit against emergency declaration
- RBA Feb. Minutes: Consumption a key uncertainty
- Japan economy minister Motegi says capex on expanding trend overall
- Reuters January Tankan - manufacturing, services both to multi year lows
- Australia - ANZ Roy Morgan weekly consumer confidence: 115.2 (prior 114.1)
- US President Trump says he seeks peaceful change in Venezuela but all options open
- Brexit - UK opposition leader warned more will quit party
- US President Trump says US is making a lot of progress in China trade talks
- Trade ideas thread - Tuesday 19 February 2019
AUD and NZD longs continued to liquidate during the session here after both declined overnight during US holiday-thinned trade on Monday. AUD had a pop of 15-odd points upon release of the RBA February meeting minutes. The minutes had little in them that could be construed as hawkish nor bullish for the currency but that was the immediate reaction. The uptick did not last though and soon the AUD plumbed a new session low and has remained offered up until posting the wrap.
NZD slid also, further weighed upon by news of another threat to primary industry output (albeit one that does not appear to be too serious, at least as it currently stands according to NZ officials). Details, see bullets above. Reminder - dairy auction due Tuesday London time will be NZD impactful, preview below.
USD/JPY had spent most of the session under selling pressure, nothing large but it slumped 20-odd points through most of the day here. Until ... Bank of Japan Governor Kuroda said in parliament he would consider further monetary policy easing under certain circumstances ... one of which was threatening the achievement of the inflation target. Well, given the BOJ is nowhere near its price goal he should be thinkin' about easing right about now! USD/JPY popped from under 110.50 to highs circa 110.70.
EUR, CAD, GBP ... all declined through the day against the USD. Not large moves though. Early in the piece, President Trump made some pointed remarks about military options being open to deal with Venezuela. Its difficult to know if he is serious or just talking through his hat again.
US-China trade talks developments seemed positive, the Chinese Vice Premier is off to Washington for further high-level talks on Feb 21 and 22. Regional stocks had an OK day here, Chinese stocks hit 6-month highs.
- Nikkei +0.23%
- Shanghai +0.25%
- HK +0.08%
- ASX +0.33%
Still to come:
