Forex news for Asia trading Monday 22 July 2019
- New tariffs announced by China's Commerce Ministry (not on the US)
- Oil price forecasts from Citi
- Shanghai Stock Exchange's NASDAQ-style STAR market launched today
- ECB this week to support NZD against the EUR
- BoA ML on the Federal Reserve - a "50bp head fake"
- Analyst on USD/CHF and EUR/CHF, even higher for the Swiss franc ahead
- Goldman Sachs oil price forecast for Q3 2019 bumped higher
- PBOC sets USD/ CNY mid-rate Monday 22 July 2019 at 6.8759 (vs. Friday at 6.8635)
- Australian CBA business spending index - weakest since Feb 2017
- More poor South Korean data - preliminary data for July show exports plunge
- Is the Fed rate cut this month locked in - despite data flow still to come? Yes.
- Brexit - UK press report that the European Union is preparing a huge aid package for Ireland
- 108 in USD/JPY flagged as resistance
- Most likely* China policy options ahead - more fiscal spending, PBOC liquidity injections
- More weekend Brexit news - EU in talks with UK on new Brexit plan to avoid no-deal
- "De-escalation" calls after Iran seizes UK tanker in the Gulf
- (Soon to be UK PM ) Johnson favours a FTA with EU
- Trade ideas thread - Monday 22 July 2019
- Front page of the Financial Times - Fed to cut rates
- Japan upper house election - Abe maintains solid majority
- UK fin min Hammond to resign this week (Wednesday)
- Here is what’s on the economic calendar in Asia today (nearly empty)
- Monday morning opening forex levels - indicative prices
- UK Parliamentary gridlock: Where now for Brexit?
- Video: CAD, the impossible Brexit and my top trade idea right now
- Fed's Rosengren: US economy doing quite well, not having a slowdown
Ranges across forex in Asia to open the week here on Monday were small but we did get some yen weakening during the Tokyo morning. USD/JPY traded above 108 before dipping back just under. News and data flow was limited indeed. The Japanese upper house election result saw PM Abe Shinzo maintain his majority in the chamber. The main implication for economic policy is it would appear to further cement the scheduled October sales tax in place.
CHF is lower against the USD also.
NZD is higher on the session, NZ/USD ticking towards 0.6775 for a circa 15 point gain for the session. Mainly smaller ranges elsewhere with little net change against t the big dollar for EUR, AUD, CAD.
Cable has added on a few tics only.
Overall a quiet beginning to the week in the time zone here.
Still to come: