Forex news for Asia trading for Thursday 29 October 2020
- BOJ announce no change to monetary policy
- USD/HKD has come off its floor (HKD weakens a touch)
- UK Trade Minister Truss says pernicious US, Eu trade policies have a corrosive impact
- Biden to consult US main allies before deciding on the future of tariffs on China
- US election analysts 538 have Biden at 88% to win the presidency
- FBI warns ransomware assault threatens US healthcare system
- Round up of the latest US election polls: "Not a good day for Trump"
- The US is allowing more chip companies to supply Huawei with components
- PBOC sets USD/ CNY reference rate for today at 6.7260 (vs. yesterday at 6.7195)
- FX option expiries for Thursday October 29 at the 10am NY cut
- Australia Q3 terms of trade: import prices -3.5% q/q and export prices -5.1%
- US overnight equity index futures are on a rip
- BOJ policy statement due Thursday 29 October 2020 - preview
- NZ business confidence (October, final) -15.7
- Japan Retail sales for September -0.1% m/m (expected +1.0%)
- The US Supreme Court rejects Trump bid to block North Carolina mail-in ballot deadline extension
- Fauci on the news wires - sees a whole lot of pain if COVID-19 trends do not change
- UK Times reports govmt expects Pfizer COVID-19 verdict vaccine before Oxford vaccine
- BoC Governor Macklem says working on fully executable plans for a digital currency
- The ECB policy meeting is taking place against a more urgent backdrop - preview (but little EUR impact?)
- BoC Governor Macklem says US Q4 GDP growth to be slower than Q3
- WSJ report - Pelosi Says Details of Coronavirus Package Could Change After Election
- RBA meet on Tuesday November 3 - preview (and looking even further ahead)
- Today is Bank of Japan day! Here is when to expect the statement.
- Trade ideas thread - Thursday 29 October 2020
- Former Fed official Dudley says US economy is deteriorating, Fed can do more
- Dem Senate candidate in Arizona on 51% vs incumbent Rep on 44%
- Latest US election poll from Reuters/IPSOS has a Trump / Biden tie in Florida
After Wednesday's (US time) stock market selling there was a bounce for US equity index futures in overnight trade on Globex. The move was not driven by any notable news nor data release.
For currencies its was a subdued session. USD/JPY was notably a little better bid, trading up towards 104.50. Just after midday in Tokyo we had the Bank of Japan October policy statement and Outlook report. There was no change to policy although the Bank's view was downgraded (see bullets above).
The HKD, too, was a mover. After many months of seemingly being nailed to its 7.75 floor USD/HKD rose a little.
EUR, GBP, NZD, CAD are all little changed against the dollar. With USD/JPY rising yen crosses are up, of course. As I update, USD/CHF has dropped back under 0.9100, down just a touch on the session.
Taiwan celebrated going 200 days without a locally transmitted coronavirus case.
USD/HKD:
