Forex news for Asia trading Friday 21 December 2018
Gold is looking good, 'needs to capture the market's imagination again'
- Where to for the RBNZ in 2019? Analysts say on hold to Q3, but then …
- Japan media reports Nissan’s former Chairman Carlos Ghosn has been re-arrested
- More on the Bridgewater forecast for 'near-recession-level growth' in the US in 2019
- Japan to cut JGB issuance by 4.8 trillion yen in 2019/20
- Japan finance minister Aso: Extra FY2018 and FY2019 budgets passed cabinet
- Michael Kovrig (Canadian detained in China) said to be denied legal representation
- US official announces US to withdraw 7,000 troops from Afghanistan
- Facebook is developing a Cryptocurrency for WhatsApp transfers
- PBOC sets USD/ CNY central rate at 6.8825 (vs. yesterday at 6.8936)
- Why the USD will appreciate in 2019 (or will it?)
- UK data - Biggest year-to-date fall in output since 2009 for car manufacturers
- UK data - Lloyds Bank monthly survey of business sentiment hits lowest since June 2016
- UK data - consumer confidence to its lowest since July 2013
- Bank of Japan says it holds 43% of JGBs
- US Special Counsel Robert Mueller report expected as early as mid-February
- Japan inflation data for Dec., core misses estimates
- White House has ordered Pentagon to plan for a troop withdrawal from Afghanistan
- He's back! AEP: 'A global credit 'heart attack' is just months away'
- US President Trump says Defense Sec Mattis to resign end-February 2019
- Bridgewater (world's largest hedge fund): US 2019 growth to be near recession level
- More on the new China lending to smaller firms
- Trade ideas thread - Friday 21 December 2018
- New Zealand data - ANZ Consumer Confidence (Dec.): +2.8% m/m (prior +2.8% also)
We got a taste of Christmas/New Year FX markets here in Asia today with only minor movement.
Economic data was light on. Most were lower tier (generally not forex moving upon release) although we also got Japanese national inflation data (for December). NZ kicked us off with improving consumer sentiment. NZD/USD has maintained a smallish range only for the session, 0.6770/0.6790 or so was about it. AUD/USD is little changed for the day.
A little later we got the CPI data from Japan; for the core measures it was another disappointment for the Bank of Japan. These came in far below their 2% target. As usual. Other news from Japan included the Ministry of Finance to reduce issuance of JGBs next year, and Cabinet approving the extra 2018 and the 2019 budgets (which include measures to counter the expected negative impact of the sales tax hike next year in October). USD/JPY was generally sideways but has ticked a little net higher as I post.
US political news again dominated headlines, with General Mattis resigning as Secretary of Defense, attributed to disagreement President Trump's policy decision to withdraw troops from Syria. (A further withdrawal was also announced today, about half of the current force in Afghanistan is to be brought home) Mattis' resignation letter goes further, though, citing differences in values between himself and the President. As the title to the post says, there was no noticeable FX impact.
'I'm outta here!'
EUR/USD has tracked sideways in a narrow range, cable ticked a few points higher early but has since subsided back to be abaerly changed on the session. USD/CAD sideways, USD CHF the same.
Still to come:
