Forex news for Asia trading Thursday 3 September 2020
- Societe Generale is targeting EUR/USD to as high as 1.35
- UBS on the likely direction of USD depending on who wins the US election
- China Caixin/Markit August PMIs Services 54.0 & Composite 55.1
- BOJ's Kataoka says need to try to reduce downward pressure on prices
- Australia trade balance for August: Surplus AUD 4607m (expected AUD 5350m)
- PBOC sets USD/ CNY reference rate for today at 6.8319 (vs. yesterday at 6.8376)
- FX option expiries for Thursday, September 3 at the 10am NY cut
- New Zealand - ANZ Commodity Price index for August -0.9% m/m (prior +2.3%)
- Japan Jibun Bank/Markit August PMIs: Services 45.0 & Composite 45.2
- More from Fed's Daly says sees no current need for further forward guidance
- Technical analyst recommends shorts in GBP/USD
- Here are the two coronavirus vaccines the US CDC is making preparations to distribute
- Australia August PMI Services 49.0 & Composite 49.4
- Australian state of Victoria report a jump in new confirmed cases of COVID-19
- FT report that large US states report declines in coronavirus positivity rates
- Fed's Daly emphasises the role of fiscal support, never been stronger
- Update - CDC preparing to distribute coronavirus vaccine by late October (not November)
- Australia August Construction PMI 37.9 (prior 42.7)
- ICYMI - Pompeo announced new restrictions on the movement of Chinese diplomats in the US
- Australian Treasurer Frydenberg says planning on bringing on tax cuts earlier
- China has "called on the US to ... stop official interaction with Taiwan in all forms"
- ICYMI - US United Airlines is planning to cut 16,000 jobs from October 1
- Trade ideas thread - 3 September 2020
A minor swing for USD strength during Asia took EUR/USD back to around 1.1830, just above its US trading time low. USD/JPY and USD/CHF also showed a little strength within small ranges.
AUD/USD traded similarly, losing some ground but it has managed to retrace its small loss somewhat. Local exporters notable on the bid during the session. NZD/USD, too, has shown a slight bid, its little net changed on the session. USD/CAD is a touch higher, as is the gold price.
News flow was light, although we did get some vaccine news; the US CDC is recommending States prepare sites for vaccine delivery as soon as late October.
