Forex news for Asia trading Monday 24 August 2020
- Japan chief cabinet secretary Suga says Abe is taking follow up tests today
- US politics - Trump senior adviser Kellyanne Conway is resigning
- Japanese media report PM Abe receiving treatment for a chronic disease, not a check up
- Westpac says AUD is back inside its fair value range
- Coronavirus Australia - Victoria to extend to allow state of emergency for up 18 months (current limit is 6)
- PBOC sets USD/ CNY reference rate for today at 6.9194 (vs. yesterday at 6.9107)
- FX option expiries for Monday August 24 at the 10am NY cut
- South Korea today adds 266 new confirmed Coronavirus cases
- Bank of Korea Governor says new Coronavirus surge to weaken economic recovery
- JP Morgan says USD/JPY going lower, stay short
- US election Joe Biden says 'No new taxes' for anyone making less than $400,000
- BoA see downside risk for the euro over the rest of 2020
- South Korea reported 397 new coronavirus cases on Sunday
- US storms - Oil producers on Saturday shut 13% of crude oil production ahead of Laura and Marco
- More info on Japanese PM Abe to go to hospital again today
- New Zealand Q2 retail sales -14.6% q/q (ex. inflation) % q/q (expected -15%)
- Goldman Sachs say the case for a lower US dollar is still intact
- Australia (Victoria) 116 new confirmed Coronavirus cases reported today
- American Airlines to be given emergency exemption to use surface coating that kills COVID-19
- Weekend reports that North Korea Leader Kim Jong Un in a coma
- Japanese media report PM Abe will attend hospital again today (Monday 24 August 2020)
- Coronavirus - Trump speaking ahead of the election on COVID-19 treatment (plasma)
- Coronavirus - US considering fast-tracking approval for AstraZeneca / Oxford vaccine
- Two major storms US Gulf Coast this week - Louisiana, Mississippi, & Texas.
- Coronavirus - Singapore has halved quarantine time for arrivals from China, Australia
- Trade ideas thread - Monday 24 August 2020
- Monday morning open levels - indicative forex prices - 24 August 2020
- China to hold military drills 'aimed at deterring Taiwan secessionists and the US'
- Weekend news - Trump said “we don’t have to” do business with China
- Russia is ready to co-operate with China and Huawei on 5G tech
- US Coronavirus - Trump will authorise emergency use of COVID-19 plasma treatment
- The story of the USDJPY and what is says about control between the buyers and sellers
- China health official says China has officially launched emergency use of COVID19 vaccines
- Big week ahead, the Fed's Jackson Hole Symposium (Powell will speak)
Currencies have ticked ever so slightly stronger against the USD to open the week here in Asia. Ranges have been small indeed.
CAD is stronger, helped by the storm-induced slight firming of the oil price.
USD/JPY had begun the session a littler stronger but gave it all back, with news (rumour) crossing that North Korean leader Kim Jong Un was ill once again - he is said to be in a coma (according to reports, but do be aware the last time we had similar reports of Kim's demise he opped up again soon after apparently not much worse for wear, he certainly still appears to be eating enough FWIW). Back to the yen, it also gained after reports that Japanese PM Abe is being treated agign today in hospital.
There were a good few Coronavirus related stories about (see bullets above) which leaned to the positive side for potential treatments.
More Kim rumours today:
