Forex news for Asia trading Monday 4 February 2019
- SPOILER ALERT … ICYMI, Super bowl won by the Patriots over the Rams, 13-3
- More on Fed's Kashkari comments earlier today
- JP Morgan says China efforts to revive economy have been ineffective, needs to do more
- AUD traders - RBA meet Tuesday 5 February 2019 , preview
- New Zealand Treasury are looking for an acceleration in growth
- Nordea on the AUD and the factors that 'still stink' (tell us what ya really think)
- AMP on today's Australian data, implications for RBA rate cuts ahead
- Goldman Sachs: 3 reasons to be cheerful on the Australian dollar
- Reserve Bank of Australia first monetary policy meeting for 2019 is tomorrow - preview
- Scotland's Sturgeon says UK nowhere near ready for Brexit, wants a 2nd referendum
- Australia job ads survey from ANZ: -1.7% m/m (prior 0.0%)
- Australia building approvals for December: -8.4% m/m (expected 2%)
- Australia monthly (privately surveyed) inflation (January) -0.1% m/m (prior 0.4%)
- Scotiabank on the huge NFP result … for the USD its 'perhaps no help at all'
- Morgan Stanley still bearish on AUD
- China Caixin services PMI data out over the weekend: 53.6 in January (expected 53.4)
- Fed's Kashkari: The Fed is nervous about slowing global growth and other issues
- Brexit - Nissan scraps plan to make X-Trail SUV in UK
- New Zealand building permits (December): +5.1% m/m (prior -2%)
- UK PM May says she'll seek a “pragmatic solution” to parliamentary Brexit impasse
- Brexit - UK business minister says no deal exit 'a mistake that we would regret for ever'
- Monday opening FX rates - foreign exchange prices indications
- What's coming up in the week ahead
Minor movement for the currencies here in Asia today, generally weaker against the US dollar.
AUD moved sharply (but to a limited extent) on a poor data result for December building permits (this data point has fallen ever since its peak in November of 2017). The 2-month combined November/December result fell at its hardest y/y since January/February of 2009. Job ads fell too, and the private inflation survey for January came in low also. AUD/USD dropped 20 or so points from just above 0.7250, crawled back to above 0.7240 and is back on its session lows as I post.
NZD/USD has had a smaller range and is also near its lows. EUR, pretty much the same while cable is up a touch from early Monday lows. Not much volatility nor range for any of these.
USD/JPY and USD/CHF are both up a few points.
News flow was light, there were the usual Brexit headlines over the weekend.
FX volumes were down today and will likely be that way for much of the week.
- China is on holidays today and is all week (Lunar New Year)
- HK and Singapore had half-days today
- Singapore is off Tuesday and Wednesday
- HK is closed Tuesday, Wednesday and Thursday
Still to come:
