Forex news for Asia trading Friday 26 July 2019
- Coca Cola have a call on the US dollar - near the end of its strengthening cycle
- Japan could take further action against South Korea on trade as soon as August 2
- Japan's economy minister to meet with Lighthizer for trade talks next week
- FOMC poses a downside risk for AUD
- Projected USD/JPY range next week (BOJ week!)
- BOJ officials are divided on whether to ease monetary policy next week or hold
- Australian regulator to publish 23 recommendations to limit the power of Facebook, Google
- PBOC sets USD/ CNY reference rate for today at 6.8796(vs. yesterday at 6.8737 )
- US says its aware of report Iran has fired a missile
- China State media says Fedex suspected of having detained more than 100 Huawei related shipments
- $40 million of gold, other precious metals stolen at airport
- North Korean missiles tested Thursday - a type intended to deliver nuclear warheads
- Japan - experiments to replace electricity generated by fossil fuels, nuclear
- Japan - Tokyo headline inflation data for July 0.9% y/y (vs. expected at 1.0%)
- TD on the August monetary policy meetings at the RBA (hold) and RBNZ (cut)
- Downside risk for US GDP data due Friday is upside risk for stocks
- Disappointment from the ECB ahead would be euro supportive
- US House has passed the debt-limit raising and budget deal - off to the Senate now
- EUR/USD forecast range for next week - higher with the ECB disappointing
- North Korea's Kim Jong Un says the South has brought in weapons for attack
- Trade ideas thread - Friday 26 July 2019
- US Sec of State Pompeo trying to deal with Iran and North Korea crises simultaneously
- AUD and NZD traders - divergent central bank policy across the ditch
A lot of flat lines across the currency markets today and the FX that did move was confined to a tight range.
USD/JPY rattled the lid again above 108.70 but only briefly and has since dropped back 10 or so points.
EUR/USD followed on from its active ECB-influenced overnight range with pretty much a big fat zero on the session here. Cable is not much better, off a few tics. USD/CHF, USD/CAD have barely altered also.
AUD and NZD have both dribbled a few points lower.
The only data of note was Tokyo area CPI, which came in at perhaps a little more encouragement for the BOJ, holding more or less steady.
Markets await the GDP report from the US on Friday. Expectations of a Fed rate cut next week have come off just a touch after the ECB/Draghi did not sound come across as dovish as was expected.
Still to come:
