Forex news for Asia trading Friday 1 May 2020
- ANZ on AUD, NZD and USD - US treasuries remain the key safe haven asset
- RBNZ plans an unchanged level of bond buying next next week in its QE program
- Hong Kong democracy protesters planning to hold multiple flashmob rallies Friday
- Westpac again says AUD to fall - brutal economic and earnings data coming soon
- China does not seem to like Pompeo too much - “enemy of humankind”, “highly venomous”
- Australia PPI for Q1: +0.2% q/q (prior 0.3%)
- Canada will announce the next Governor of the Bank of Canada on Friday
- New Zealand Treasury says high frequency indicators show a tick up in economic activity
- FX option expiries for Friday 1 May 2020 at the 10am NY cut
- Japan economy minister Nishimura says government and BOJ will cooperate to ensure no deflation
- Australia national house prices +0.3% m/m in April ( +0.7% prior)
- Japan - Manufacturing PMI (final) for April: 41.9 (preliminary 43.7, prior 44.8)
- New Zealand government to provide interest free loans to small business
- South Korean exports data for April show -24.3% y/y
- BOJ Monetary Policy Meeting minutes (March meeting)
- Goldman Sachs analyst rates Boeing as a Buy, raises stock price target
- Tokyo headline inflation (April) 0.2% y/y (vs. expected 0.2%)
- Is Kim Jong Un in his forever box, or just Schrodinger's box?
- White House economic adviser Kudlow denies US is considering cancelling debt obligations to China
- Air Canada: "I think by Christmas you will see a significant amount of flying again"
- Australia - CBA/Markit Manufacturing PMI for April (final) 44.1 (vs. flash 45.6, prior 49.7)
- NZ Q1 job vacancies index -6.4% q/q (prior was -3.9% in Q4)
- Japan media - Japan looks set to extend its coronavirus emergency
- Australia - AiG Manufacturing PMI for April 35.8 (prior 53.7)
- New Zealand - ANZ Consumer Confidence Index for April: -20.2% m/m (prior -12.9%)
- Bank of Canada Governor Poloz spoke earlier - recap
- Apple CEO says Australian apple stores to reopen in 1 to 2 weeks
- Coronavirus - President Trump says China either incompetent, or let it spread
- The Fed has expanded the US paycheck program to further lenders
- Look ahead to next week's RBA meeting - nothing to prompt a further AUD rally?
- Trade ideas thread - Friday 1 May 2020
- Apple announces it is boosting its buyback by USD 50bn
- Goldman Sachs on AUD/NZD - stay long
Comments from US President Trump on China again today weighed on risk during the timezone here. Singapore and Hong Kong (and China) were all on holiday for the day, reducing FX liquidity to the main centres of New Zealand, Australia and Japan only.
Data on the day was, is ruinous too strong? Terrible from Soputh Korea (exports plunged), Australia (dropping PMIs), Japan (ditto), New Zealand (weak consumer sentiment).
Add it all together and the big losers were AUD and NZD
Cable is also soft on the day, as is CAD. EUR/USD has done little, gold has tracked more or less sideways. Oil prices steadied somewhat, although the near term CL contract managed above %20 at one stage.
Adding this headline in, adding to the US/China tensions:
