Forex news for Asia trading Monday 31 December 2018
- China PMIs today a mixed result - recap
- El-Erian: Possibility of 1,000-point daily swings in DJIA is the “new reality” for a while
- Significant forex option expiries for Monday 31 December 2018
- UK press: Tory and Labour MPs to force Brexit delay if May's deal is voted down
- The top 3 FX trades for 2019
- China December Manufacturing PMI: 49.4 (vs. expected 50.0)
- China Non-manufacturing PMI for December: 53.8 (vs. expected 53.2)
- Australia Private Sector Credit for November: 0.3% (expected 0.3% m/m)
- 2019 will bring more Fed Chair unscripted remarks than ever before. Peachy.
- Here are DB's 30 top risks for the new year - wanna add any?
- Goldman Sachs have cut their Federal Reserve rate hike forecast for 2019 again
- UK's Liam Fox says around a 50% chance of Brexit actually happening if deal rejected
- Trade ideas thread - Monday 31 December 2018
- Early forex price indications, Monday 31 December 2018
- Trump comment on China progress sets up a positive start
- Italy parliament approves 2019 budget law
- Signs of an 'inventory cliff' are piling up
US President Trump tweeted that trade talks with China were 'moving along very well' and Italy's parliament passed the country's budget. Apart from the usual Brexit baloney those were the weekend headlines that counted. Monday brought PMIs from China that while mixed (manufacturing into contraction, non-manufacturing improved), indicated manufacturing was weaker.
Meanwhile, thin liquidity trading continued into year-end ahead of the (pretty much) global holiday to come on Tuesday. China got an early start, on holidays today (Monday 31 Dec.)
The Australian dollar took its cue from Trump's China trade tweet, gaining in early Asina hours. It got a quick set back a few points on the China PMI data but soon recovered and posted a new session high. Trading was subdued though, and the range was small. NZD traded a similar but not identical pattern.
EUR/USD opened a touch soft, down just a few tics, recovered toward 1.1450 and sagged back a few points from there. Cable had the weekend Brexit news to contend with but is little net changed from late Friday levels.
USD/JPY has net edged a few points higher on the session, as has USD/CHF. Gold is off just a touch.
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