Forex news for Asia trading Thursday 30 January 2020
Coronavirus
- Coronavirus - Singaporeans returning from Wuhan, 92 fly in today. To be medically screened at airport.
- Coronavirus - Hong Kong Monetary Authority to closely monitor market developments
- Taiwan's dep fin min says not currently considering stabilisation of stock market
- Coronavirus- Ikea have closed all their stores in China
- Update - Coronavirus global confirmed cases
- Coronavirus - Japan chief cabinet secretary Suga: 13 are unwell who returned to Japan on the 2nd flight
- Coronavirus - Japan official questions earlier statement
- China has approved a kit to test for coronavirus - can shorten detection time
- More on the 3 Japanese returned from Wuhan who tested positive for the coronavirus
- China confirmed cases of coronavirus - here is how the infection has spread
- 3 of the Japanese who returned from Wuhan on the govt flight are confirmed as having coronavirus
- China says total coronavirus cases now 7,711
- Death toll in China from the coronavirus is now at least 169
- Coronavirus - Kudlow says US airlines are placing restriction on flight to China
- Trump advisor Navarro says the US will keep its tariffs on China even if the coronavirus impact hurts growth
Other:
- UK data - car output dropped last year at the fastest rate since the 2008-9 recession
- GBP - How to trade the Bank of England decision due Thursday 30 January 2020
- FX option expiries for Thursday January 30 at the 10am NY cut
- NAB have changed their RBA interest rate forecast from February to April
- UK business confidence for January jumps to 23 from 10 prior
- Australia terms of trade data Q4. Export prices -5.2% q/q (expected -5.2%) & imports 0.7% q/q (+0.4%)
- Bank of England monetary policy meeting Thursday 30 January 2020 - forecast for an interest rate cut
- Here's a change of view on the Reserve Bank of New Zealand
- RBA interest rate meeting next week - "not cutting would be a mistake"
- US Commerce Sec Ross says he expects Canada to approve USMCA (the new NAFTA) very quickly
- Trump adviser Kudlow says EU trade talks will restart soon .... intensity!
- Trump's Steve Bannon is plotting a devastating takedown of the 'myth of Chairman Xi'
- EU wants break US tech giants' dominance - here is how they plan to do it
- New Zealand trade balance for December: NZD 547m (expected 100m NZD surplus)
- Trade ideas thread - Thursday 30 January 2020
It was all about coronavirus again today in Asia. Currencies didn't do a real lot, but stock markets suffered in the region.
Confirmed cases of the disease increased in China and other countries, the death toll increased and the geographic spread increased. More in the bullets above.
Regional stocks (these numbers will have changed since posting, local marekts have not closed yet. but this'll give an idea::
- ASX 200, Australia, -0.5%
- Nikkei 225, Japan -1.6%
- KOSPI, South Korea -1.1%
- Hang Seng, HK -1.4%
- TAIEX in Taiwan, back from holidays today and -4.9%
- India is hanging in there, up 0.15% as I post.
- Chinese mainland stock markets are not due to re-open until next week. HK and Taiwan give a clue to the direction though.
- Overnight US futures stock index trade was lower also
There were data releases during the session - one that was a little more notable than others was Australia's export prices in Q4, dropping in line with expectations but heavily nonetheless (see bullets above) .
For currencies, major FX rates had small ranges, I'll highlight AUD/JPOY (as a 'risk' barometer, not that we need another), down on the session some flows out of AUDF (and kiwi) and into yen.
Taiwan's TWSE:
As the day in Asia draws to a close there will be a diminution of coronavirus stories and the focus will switch to the Bank of England meeting. There are a coupl of previews above.
