Forex news for Asia trading Wednesday 29 August 2018
- More detail on UK, EU drop October deadline for Brexit deal
- Some headlines on a possible EU / UK Brexit deal by November
- M4.4 earthquake - California - 4km north of La Verne
- Canada press: Canada ready to make concessions on dairy to secure NAFTA deal
- Trump tweeting - Our new Trade Deal with Mexico … It will be a big hit!
- CBA says China's yuan will continue to fall (quick video)
- BOJ's Suzuki: need to pay attention to monetary policy impact on bonds market
- Head of China's State Planner says more efforts on growth needed
- PBOC sets USD/ CNY central rate at 6.8072 (vs. yesterday at 6.8052)
- On approach to the end of the month - expected flows out of USD
- UK data - BRC Shop Price Index Aug: +0.1% y/y (prev –0.3%)
- CIti 'remain structurally bullish' USD, but do highlight 'the biggest risk' (ps its a tail risk)
- TD on the NZD/USD - can't see it above 0.6750
- Trade ideas thread - Wednesday 29 August 2018
- Goldman Sachs says the dovish take on Powell is wrong
- Private oil inventory data shows surprise build in crude oil inventories
Canadian foreign minister Freeland is leading a delegation to Washington for further Nafat talks on Wednesday. The Canadian Globe and Mail broke news during the Asian forex session of a significant concession possible to come:
If so (as seems likely) it could hasten a deal on Nafta, which as we discussed yesterday, needs to involve all three states, US, Canada and Mexico. The CAD rallied on the news, not by too much, from USD/CAD above 1.2930 to just under 1.2910. It did not approach the recent 1.2890 lows seen earlier in the morning (US time) Tuesday.
Apart from the CAD news there was not too much else. We got the usual Brexit guff, this time:
- More detail on UK, EU drop October deadline for Brexit deal
- Some headlines on a possible EU / UK Brexit deal by November
Cable is little changed on the session, tracking not much more than a 10 or so point range.
USD/JPY has added a few points during the Tokyo moring. We had a BOJ speaker today, but that has passed with barely more than a ripple.
EUR, AUD, NZD, CHF ... all little changed also.
Gold has edged a couple of dollars higher.
Still to come:
