Forex news for Asia trading Thursday 26 September 2019
- A "looming wall of dollar debt" in China - default set to increase in 2020
- Organised social media manipulation has more than doubled since 2017
- Goldman Sachs economists on what will weaken the USD next year
- RBNZ Gov Orr says NZ in sound position - opportunities in global low interest rate environment
- UK car output rises for the first time in 15 months in August
- Australia data - trend job vacancies down 1.3 % over the August 2019 quarter
- Financial Times on Fonterra - record annual loss
- NZD/USD quarterly outlook - further downside potential
- PBOC sets USD/ CNY reference rate for today at 7.0729 (vs. yesterday at 7.0724)
- FX option expiries for Thursday September 26 at the 10am NY cut
- BOJ has cut its purchase amount of 5-10 year JGBs again today
- China PMI data on the way - indications show trade, factory prices, small business confidence all worsening
- BOJ Kuroda speaking Thursday 26 September 2019 - to keep the dream alive?
- Gold - "recent tension in the Middle East has only increased the attractiveness"
- UBS on the RBA - did not expect this slowdown, rate cut coming next week
- More from Fed's Kaplan - level of pessimism is showing need for fiscal policy, reform
- Fed's Kaplan says odds of recession in the next 12 months are relatively low
- Brexit - YouGov survey shows UK consumer sentiment has fallen to a 6-year low
- Former German fin min Schaeuble calls for a reappraisal of fiscal policy
- 1 - 3 month AUD/USD outlook
- More from Japanese PM Abe on trade, auto tariffs, Sth. Korea … and, well, more
- NZD traders - more on what is in the RBNZ pipeline
- Japan's PM Abe says a win-win in trade deal with the US
- US President Trump manages to give a boring press conference
- Trump impeachment update - House has enough votes to impeach (no update on Senate)
- Brexit - UK PM Johnson has come up with another plan to shut parliament
- Here is a forecast for gold to USD1,650 (and why)
- Trade ideas thread - Thursday 26 September 2019
- Brexit - UK PM Johnson says, once again, he will not seek an extension
- NZD traders - Here are the 2 key indicators to watch for the next RBNZ (potential rate cut) meeting
A lower-tier data point from Australia had, as you'd expect from a lower-tier data point, barely any discernible impact. But, its another sign that the labour market ahead is likely to see rising unemployment and place the RBA under more pressure. Job vacancies fell for the third quarter (see bullets above) which does not auger well for the unemployment rate ahead.
OK, what did impact? RBNZ Governor Orr gave a speech which, while emphasising rates are to remain low for some time ahead, was nevertheless on the upbeat side. NZD/USD moved a few points higher on the speech, back towards 0.6300 and now, above. It managed to drag a few points up on the AUD also.
EUR/USD has also had a better session, while specific news flow for it has been light its up circa 20 points. Cable is up a a little also.
USD/JPY is a few points down on the session so far, in a small range much like everything else. Bank of Japan Governor Kuroda is speaking soon.
