Forex news for Asia trading Monday 28 October 2019
- Argentina to limit USD purchases for individuals to $200 a month (down from $10,000)
- PBOC official says commercial banks should step up blockchain application
- Caixin report on further price reductions by China property developers
- PBOC sets USD/ CNY central rate at 7.0762 (vs. Friday at 7.0749)
- The Wall Street Journal on China's financial bubble in high-end sneakers.
- Green cardigan USD334K. Pigeon EUR 1.25m. Tiny painting EUR24m. How much for a tulip?
- Rick Perry says the world is awash in oil and Goldman Sachs is a bit off
- Japan Services PPI (September) 0.5% y/y (vs. 0.5% expected)
- UK Brexit vote may leave Johnson with a "zombie" parliament
- Goldman Sachs on what's supporting the price of gold. Plus, GS forecasts for gold price.
- Fitch affirms Australia at "AAA", outlook stable but expects sharp drop in GDP growth
- NZD traders - heads for the New Zealand holiday today, Monday 28 October 2019
- Week ahead for Brexit. Actually, let's just take this thing one day at a time.
- Australia press reports the first QE from the RBA could be to give banks cheap loans
- Trade ideas thread - Monday 28 October 2019
- Weekend data - China industrial profits fell 5.3% y/y in September
- Monday morning open levels - indicative forex prices 28 October 2019
- Brexit - EU prepares a 3 month extension
- German vote shows the trend of political divergence alive and well
- It's been 90 years since the original Black Monday. The lessons are ominous
- The US has killed ISIS leader Abu Bakr al-Baghdadi in a raid
- China says part of deal text with US is 'basically completed' but other challenges loom
- Bitcoin soars to $10,000 before sliding back to $9000
Bitcoin added to its Friday gain during Saturday Asian trade with supportive blockchain comments from Chinese President Xi (see bullets above). It also had a decent sized retracement (more than 1000 USD) but as I post its back circa 9700USD.
Other weekend news out of China was a report that the text of phase 1 trade deal with the US is nearing completion but that challenges remain.
There was no let-up in Brexit news, the EU is said to be prepared to offer an extension out as late as January 31 2020 with option to exit earlier (see bullets above, again). The EU to advise on Monday or even Tuesday.
As for Monday news during the Asina time zone there was none of impact, nor dor data. Argentina has imposed capital controls but this viewed as a mainly local issue.
The USD has found a bit widespread strength, trading higher against majors. The moves are not large in range.
Still to come
