Forex news for Asia trading Friday 22 September, 2017
- Japan's Ex-MOF Sakakibara says USD/JPY going lower as US growth peaks
- More on North Korea H-bomb test (in the Pacific) threat
- China's finance ministry says S&P's China sovereign rating cut is a wrong decision
- Japan finance minister Aso says no change decided on FY 2020 primary surplus target
- S&P downgrade Hong Kong credit rating
- Japan economy minister Motegi says maintains primary budget surplus target
- USD/JPY cascading a little lower still, stops under 112.20 hit
- PBOC sets USD/CNY reference rate for today at 6.5861 (vs. yesterday at 6.5867)
- South Korean media warn of North Korea H-bomb test in Pacific
- German election coming up this weekend - preview
- Oil: Citi says "markets are persistently misunderstanding" OPEC/non-OPEC meeting today
- Barclays on BOJ monetary policy (check this out, something different!)
- Goldman Sachs on the BOJ's September monetary policy statement
- OIL - OPEC/non-OPEC Joint Ministerial Monitoring Committee meet today - preview
- Chief US NAFTA negotiator wants substantial changes that benefits all Americans
- CBA on RBA's Lowe - "optimistic but certainly not hawkish"
- Here is the full text of Kim Jong-un's statement on Trump's UN speech
- North Korea's leader comments on Trump's UN address ('insanity and inhumanity')
- US Sec State comments at the UN on North Korea threats
- Goldman Sachs: Its "clear the RBA is gradually shifting towards a more positive stance"
- Trade ideas thread - Friday 22 September 2017
- FOMC - Yellen speaks next week (Sep 26) - the topic will be inflation & monetary policy
You know how discussion on the internet can sometimes be a little uncivil? Its not just the internet .... incivility and name calling today in the international diplomacy arena ... North Korean leader Kim Jong-un saying of Trump:
- "I will surely and definitely take the mentally deranged U.S. dotard with fire"
And it sorta went downhill from there:
- North Korea's leader comments on Trump's UN address ('insanity and inhumanity')
- Here is the full text of Kim Jong-un's statement on Trump's UN speech
North Korea Foreign Minister (in NY to attend the United Nations General Assembly) weighed in, threatening a nuclear test by the country in the Pacific Ocean:
- South Korean media warn of North Korea H-bomb test in Pacific
- More on North Korea H-bomb test (in the Pacific) threat
Civil international diplomacy was not the only downhill today, the rising tension contributed to a slide in USD/JPY. It was a relatively slow move, taking a good few hours to drip to a 50+ point loss on the session.
Yen crosses were generally lower alongside.
Gold traded higher on the rising tensions, but the 'risk off' trade didn't hit AUD./USD too much. It did test down circa 0.7910 but is back to more or less unchanged on the session just under 0.7930. EUR and CHF were better through (against the USD), both are higher on the session.
Kiwi slid. The election is this weekend:
- New Zealand's ruling National Party retains lead over opposition Labour Party
- NAB on the NZ election & NZD: Fade knee-jerk NZD reaction to political developments
- New Zealand election September 23 - here's the bottom line
- New Zealand - big week coming up & an election that's too close to call
- NZD traders - election Sept 23 - the risks for the currency
Election in Germany this weekend too
And be sure to check in Monday for a likely Japanese early election announcement:
That's all folks - it's the end of the world this weekend (yes, again ...) so party hard!
