Forex news for Asia trading Thursday 24 January 2019
- All the ECB previews in the one post
- BNZ nudge their 2018/19 milk price forecast up to $NZ6.25, from $6.00
- Bank of Korea Governor says rapid economic slowdown in Korea unlikely in 2019
- Australia - major bank hikes home loan rates
- New Zealand data - credit card spending for December: -0.5% m/m (prior 0.4%)
- TD with a topside trade for AUD/NZD (target, stop)
- PBOC sets USD/ CNY reference rate for today at 6.7802 (vs. yesterday at 6.7969)
- Bank of Korea leaves its benchmark rate unchanged
- Australian jobs report (Dec.). Employment Change: 21.6K (vs. expected 18.0K)
- Japan - flash January manufacturing PMI from Nikkei / Markit: 50.0 (prior 52.6)
- Survey of economists - most likely see 2 Fed rate hikes in 2019
- Bank of Japan, on hold for the next two years?,
- (Much) more from the Bank of England chief economist Andy Haldane
- Couple of bank views on the AUD... 'doom loop', 'more risk', 'economic weakness'
- Australia - 3 preliminary PMIs for January. One improves, the other two drop.
- The EU is to sue the UK over tax breaks
- Trade ideas thread - Thursday 24 January 2019
- UK press report 19 Remain ministers met in secret in bid to stop no-deal Brexit
- Oil - private data shows surprise build in US crude inventory
- South Korean media report Trump has sent another letter to NK leader Kim
The Australian dollar a mover in Asia today. While the range was not large it was a stand out on an otherwise subdued session. AUD popped on the release of the monthly employment report, with yet another rise in job numbers. From around 0.7145 it gained to just above 0.7165. An hour or so later, and with the AUD waffling around 0.7160 the National Australia Bank announced a nudge higher for its mortgage rates. AUD dropped to 0.7140 and has since dribbled further down to lows just under 0.7125 as I post.
NAB cited sustained funding pressures for the rise (see bullets above for more).
NZD/USD traded a similar (not the same) pattern to the AUD in a smaller points range. BNZ raised their milk price forecast.
EUR/USD edged a few points up ahead of the ECB meeting later on Thursday. USD/CHF a few tics lower while cable gained some points and has since given back approximately 50% of the small run.
USD/JPY is little net changed with a small wobble only.
Still to come:
