Forex news for Asia trading Wednesday 8 November 2017
- More on China October trade data - imports of commodities fell
- Moody's says its outlook for global sovereigns is stable
- China trade balance for October USD + 38.2bn (prior 39.1bn USD)
- China trade balance for October in yuan terms: +254.47bn (expected 280.45bn CNY)
- China export and import data for the January - October period
- RBNZ Oct. monetary policy meeting coming up - preview
- RBNZ Oct. monetary policy decision coming up - preview
- Trump to warn North Korea: ""Do not underestimate us. And do not try us."
- Australian politics - PM Turnbull to recall Parliament to deal with citizenship issues
- North Korean press says Trump has intent to light fuse of nuclear war in trip to Sth Korea
- BOJ's Funo: Still some distance to reaching 2% inflation target
- PBOC sets USD/CNY mid-point today at 6.6277 (vs. yesterday at 6.6216)
- AP reports Democrat Ralph Northam wins Virginia's hard race for governor
- Democrat Ralph Northam projected to win Virginia governor race - NBC News
- Democrat Phil Murphy wins New Jersey's governor's election - CNN
- IMF's Lagarde says the global economic situation is improving
- US President Trump's DMZ visit cancelled (5 mins from landing)
- USD update (downdate?) following the tax cut delay headline
- Senate GOP: Said to consider 1 year corporate tax cut delay – WAPO
- More on China FX reserves - masks "a pick-up in FX purchases" by the PBOC
- RBA meeting yesterday - responses ... 4
- RBA meeting yesterday - responses ... 3
- RBA meeting yesterday - responses ... 2
- RBA meeting yesterday - responses
- China FX reserves data (October) was out overnight
- Forexlive Americas FX news wrap: Dollar the strongest but lethargic session
- Trade ideas thread - Wednesday 8 November 2017
- USGS reports on a magnitude 6.6 earthquake hitting Papua New Guinea
- OIL - private inventory data
- Data due from China today - October trade balance
- Economic data due from Asia today - Bank of Japan speaker
- NZ data - ANZ New Zealand Truckometer (Oct.): +2.9% m/m (prior -1.5%)
The day kicked off (actually it was more the day ended in North America) with the private oil inventory surve;, oil dropped a little and has pretty much held its losses (it bounced a bit).
And then it really started a couple of hours later when news crossed that
Yikes ... the USD took a bit of a tumble (not too much, this is AsiaFX after all).
EUR/USD popped back above 1.1600 (eventually) but has slid back under as I update. USD/JPY dropped away a little, from just under 114 it traded to under 113.70 (also eventually) and is circa 113.80 as I update.
Further news centred on politics - US election results and President Trump speaking in South Korea, but not managing to get in a visit to the DMZ (see bullets above).
Cable has gained a few points net on the session while USD/CHF is the inverse, down just a few. AUD/USD and NZD/USD were a little more active. Both recorded small gains when the USD weakened but have since given back a little (likely related to the China October trade data misses, which elicited a little selling). A small range for each though and they are pretty much both just under mid-range as I update.
The Reserve Bank of New Zealand announcement is due at 3pm NY time Wednesday - stay tuned for that! Previews:
