Forex news for Asia trading Wednesday 9 September 2020
- Bank of Canada monetary policy meeting preview (spoiler - no change)
- AstraZeneca COVID-19 vaccine adverse trial participant - spinal cord inflammation?
- South Korea will announce further, emergency, stimulus measures this week
- Australia July housing finance data, home loans +8.9% m/m (expected +2.0%)
- China August CPI 2.4% y/y (expected 2.4%) & PPI -2.0%y/y (expected -1.9%)
- South Korea's Samsung and SKHynix to end all supplies of semiconductors to Huawei
- Softbank's chief compliance officer has left the firm
- PBOC sets USD/ CNY reference rate for today at 6.8423 (vs. yesterday at 6.8364)
- FX option expiries for Wednesday September 09 at the 10am NY cut
- NZ - ANZ preliminary business confidence (September) -26.0 (prior -41.8)
- Goldman Sachs see 'mounting signs of trouble' for US fiscal stimulus hopes
- Australia - Westpac Consumer Confidence Index for September: +18.0% m/m (prior -9.5%)
- Reasons for the sliding oil price pile up
- US moves closer to blocking imports from Xinjiang province in China (cotton, tomatoes)
- Nine drugmakers promise to not seek approval for experimental Covid-19 vaccines until shown to be safe
- New Zealand Manufacturing Activity for Q2 - huge drops (not unexpectedly)
- COVID-19 vaccine - Astra Zeneca has added to its statement re phase 3 trial put on hold
- UK breaking international law, head legal official resigns. GBP lower again in early Asia.
- NZ data - ANZ Truckometer for August. Heavy Traffic index: -6.5% m/m (prior +2.7%)
- Coronavirus - The UK government is considering a night-time curfew to slow the spread
- AstraZeneca Covid-19 vaccine - study put on hold due to suspected adverse reaction in trial participant
- Coronavirus - UK to tighten restrictions nationwide again
- US Senate McConnell says plans a coronavirus economic rescue vote this week
- One for the AAPL folks - Apple special event planned for September 15
- Trade ideas thread - Wednesday 9 September 2020
- ICYMI: Scientists question results from a study of Russia’s coronavirus vaccine
Currencies generally gained against the US dollar on the session, in small ranges and not all did. It was as a retrace of just some of the overnight moves that saw them lose ground. EUR, AUD, NZD all drifted up 20-odd ticks or so. Cable was flat, which is a bit of win for it relatively speaking after the persistent selling all of this week so far. If you've been tracking along with the Brexit related news since the weekend and first thing Monday morning you'll be well across the GBP weakness.
USD/CAD, too, has been more or less sideways, CAD has been a decent loser as oil prices have fallen this week. The Bank of Canada meets Wednesday, heads up for that (announcement due at 1400GMT - no change in policy is expected (that is a brutally concise summary of consensus expectations)).
On the news front, attention was captured by the announcement from AstaZeneca/Oxford that their phase three clinical trial was being paused while an adverse reaction in a trial participant is investigated (see bullets above).
