Forex news for Asia trading Tuesday 25 August 2020
- RBA ask "How Risky is Australian Household Debt?"
- USD/CAD forecast to 1.35 (6 month horizon)
- Australia jobs market update - jobs down 1% over month to August 8
- South Korea new coronavirus cases come in at 280 today
- SPDR Gold Shares ETF inbound flow has dried up for the past four sessions
- PBOC sets USD/ CNY reference rate for today at 6.9183 (vs. yesterday at 6.9194)
- FX option expiries for Tuesday August 25 at the 10am NY cut
- Comments now from China on the 'constructive' phase 1 trade deal call
- South Korea coronavirus news - Schools in Seoul to close, go back to online
- US says both sides see progress on phase one China trade deal
- A North Korean patrol boat recently fired live rounds at a Chinese boat illegally fishing
- China Mengniu Dairy abandons purchase plans for Australian business
- 7 reasons why the trend in shares will likely remain up, albeit with bumps along the way
- Australia's CBA on consumer spending, GDP forecast (contraction this year)
- Australian weekly consumer sentiment: 92.7 (prior 88.6)
- Coronavirus - Fauci says rushing out a vaccine could jeopardize testing of others
- South Korea Vice Fin Min says closely monitoring market volatility
- EUR/USD 1.20 might be the line in the sand for ECB intervention (jawboning first option)
- Australia (state of Victoria) record 148 new confirmed coronavirus cases
- Morgan Stanley says narrow breadth makes S&P500 vulnerable to shocks
- Central America Magnitude 6 earthquake
- Salesforce, Amgen, Honeywell to be slotted in to the DJIA (here is who's out)
- NZD/USD forecast to 0.67 (three positives and one negative for the kiwi $)
- Largest oil refinery in North America to shut on Tuesday
- Trade ideas thread - Tuesday 25 August 2020
- India is phasing out equipment from Huawei and other Chinese companies from its telecoms networks
- If Fed Chair Powell's speech is 'profoundly consequential', here's what the USD will do
- S&P and NASDAQ closed at record levels. All sectors of the S&P rise
‘Risk’ received a boost during the session here with twin announcements from both the US and China on a phone hook up between the two countries to discuss the Phase 1 trade deal. Chinese Vice Premier Liu He, US Treasury Secretary Mnuchin, and US Trade Representative Lighthizer took part in the call, with positive noises being made by both sides on progress being made and more to come. Regional shares were already responding well after the lead from US Monday trade but this provided more of a boost.
Currencies like the news also, with a near across the board recovery against the USD. Cable is a bit of a stand-out, tackling 1.3100 as I update.
Apart from the update on phase 1 trade news flow was non impactful and light, as was data flow.
After last week's Democratic Party convention the Republican side kicked off today.
