Forex news for Asia trading Friday 26 June 2020
- Australia coronavirus update, highest number of new cases for 2 months today
- BOJ looking likely to cut economic forecasts, not policy (there is a but if yen firms)
- NZ Treasury is projecting the unemployment rate will rise to 9% (previous forecast was 10%)
- Bain Capital signs a deal to buy Virgin Australia
- ANZ looking for NZD/USD to stabilise, head to 0.65 & maintain around there
- FX option expiries for Friday June 26 at the 10am NY cut
- AUD/USD pivotal price resistance at 0.6977
- More from BOJ Gov Kuroda: Japan Q2 GDP likely to see considerable contraction
- Japan inflation indicator for June - Tokyo headline CPI 0.3% y/y (vs. expected 0.3%)
- BOJ's Kuroda reiterates the Bank will maintain stability in Japan's financial markets
- The combination of factors adding up for medium run EUR bullishness
- BOJ policy board member says BOJ will control rates to prevent collapse in Japan's finances
- The explosion outside Tehran - reports it was a military base, or a power station
- NZ June consumer confidence +7.4% m/m to 104.5 (97.3 in May)
- Reports of large explosion east of Tehran, Iran
- US coronavirus - CDC director says total cases in the US is around 23 million (that is, 10 times current estimates)
- Central bank warning on lower than normal forex liquidity
- Trade ideas thread - Friday 26 June 2020
- Federal Reserve has banned bank share buybacks Q3
- US Coronavirus - Apple reclosing, 32 stores now shut again
- Nike posts disappointing revenue, gross margin results
It was a second day of mostly small ranges across major FX and a lso a second day of holidays in China. Chinese markets reopen on Monday but do be aware there is some data out over this coming weekend:
AUD, CAD, NZD all lost a little ground against the USD in the Asian morning before bouncing back (AUD is still a little weak).
There was little impactful news nor data flow. Japanese inflation indications are well below target, yet again. Bank of Japan Governor Kuroda was on the microphone, warning of contraction to be confirmed for Q2 Japan GDP and slow recovery ahead. He may be hinting at the BOJ slashing its outlook at the next policy meeting on July 14 and 15 although if that is the case it does not necessarily follow that there will be a further easing of policy at the meeting.
And, on the way:
