Forex news for Asia trading Tuesday 29 October 2019
- New Zealand Treasury sees a risk S&P could remove their positive ratings outlook
- Brexit - More on UK PM Johnson's plan to try again for a December election - parliament vote on Tuesday
- US House of Representatives looking likely to move forward on the Trump impeachment - here's what you need to know.
- PBOC set the onshore yuan at its strongest in 2 months
- PBOC sets USD/ CNY reference rate for today at 7.0617 (vs. yesterday at 7.0762)
- Japan economy minister Nishimura says the government will join forces with the BOJ to exit deflation
- NZD pops - some hedging news crossing
- Japan inflation data - Tokyo area CPI 0.4% y/y (vs. 0.7% expected)
- US Senator plans legislation to block US govt pensions from investing in Chinese stocks
- NZD/USD 'trade of the week' buy recommendation
- Australia weekly consumer sentiment survey: 110.4 (prior 111.6)
- Tudor Jones says stocks would drop 25% on a Warren presidential win
- China banned importing canola from Canada. But the 'backdoor' channel is wide open.
- Brexit - Boris lost the vote but it appears a December election is still a strong possibility
- RBNZ Hawkesby says looking for the August rate cut to lift inflation (eventually)
- Trade ideas thread - Tuesday 29 October 2019
- US Treasury to consider delay of further tariffs on Chinese imports
Yes, UK PM Boris Johnson is trying to try again for a vote on a pre-Christmas election. The parliament will vote on 'short bill' on Tuesday for a general election in the second week of December. More in the bullets above. GBP/USD fell away a few points on the session here today but in barely more than a 20 point range.
News flow otherwise was light and of little impact.
The data focus was on the early indicator of japanese inflation for the month. We got Tokyo area inflation for October released and it came in below expectations, despite the 1 October sales tax hike. The Bank of Japan meet this week and while today's data was Tokyo CPI only its not impossible to think the BOJ would have to be a little concerned. But, they have insisted that inflation will rise to their target despite less than encouraging data in the past many years so maybe today is no different.
USD/JPY had a small tick higher during the session but it has not sustained and is little net changed.
NZD/USD traded higher and then dropped back on the Treasury report (see bullets above). Its net up around 20 points on the day.
AUD followed along but is not up as many points. There is little to report on other majors.
Reserve Bank of Australia Governor Lowe to speak soon - 0645GMT.
Still to come:
