Forex news for Asia trading Thursday 27 December 2018
- China industrial profits drop, first time in 3 years
- China - Industrial profits for November: -1.8% y/y (prior was +3.6%)
- PBOC sets USD/ CNY reference rate for today at 6.8894
- EU’s Oettinger - still a chance UK parliament will vote yes to Brexit agreement in January
- Brexit - UK business leaders’ confidence in economy to its lowest in over 18 months
- EU Budget Commissioner Oettinger - will accept France budget deficit only once
- Reuters survey - Germany industry see GDP growth around 1.5% next year
- US and China trade talks continue in January. And here is more from China ICYMI.
- Trade ideas thread - Thursday 27 December 2018
Wednesday trade in US time saw a huge rise for share markets and a better bid for 'risk'. The stock market surge carried over to regional markets on the opening here in Asia.
Currencies here in Asia today were mixed.
- AUD/USD (and NZD/USD) traded a little stronger from late US levels but have since given back the continuation moves to be net little changed on the session here.
- EUR/USD and GBP/USD have strengthened a little from late US time and held their gains.
- Yen and CHF have both added points against the USD since late New York also.
There was little fresh news nor data to drive currencies during the session here. We did get Chinese industrial profit data, a poor result (see bullets above). This data point was negative for AUD.
Recall that liquidity has been thinned across markets by the holidays. Thinner liquidity than normal will persist for the balance of this week and into next week.
Still to come:
