Forex news for Asia trading 10 January 2020
- Optimism at major UK companies has improved by the largest margin in at least 11 years
- US non-farm payrolls previews - links
- Comments out of China on 'phase 2' of the trade deal with the US
- Japanese PM Abe's Middle East trip is back on
- ICYMI - China National Petroleum Corporation has pulled staff out of Iraq
- UK foreign minister advises against travel to Iran following shooting down of plane
- There is "Revolutionary SOE reform taking place" in China
- PBOC sets USD/ CNY reference rate for today at 6.9351 (vs. yesterday at 6.9497)
- FX option expiries for Friday January 10 at the 10am NY cut
- Reuters poll shows USD strength expected to persist for another 6 months at least
- Australia Retail Sales for November: 0.9% m/m (expected 0.4%)
- Bundesbank dep head says the ECB must keep loose monetary policy
- Canada confirms it will send officials to Iran to participate in plane investigation
- Japanese data - November household spending -2.0% y/y (expected -1.8%)
- (Rumour) There are reports of airstrikes on the border between Iraq and Syria
- US House approves resolution to limit Trump's ability to pursue military action against Iran
- Airbus to ramp up production of US-made A320 planes
- An Iranian official says the US NTSB has accepted an invitation to participate in jet investigation
- Trade ideas thread - Friday 10 January 2020
- Brexit (anyone remember this?) update - exit bill passes all stages of Commons
- Goldman Sachs nonfarm payrolls preview
- UK's Raab says an Iranian missile shot down the plane
- Australian services PMI for December collapses to 48.7 (from 53.7 prior)
- The Prime Minister of Ukraine says indications are the plane was shot down by an Iranian missile
- The Canadian foreign minister says Iran is open to Canada's involvement in plane investigation
If you are scanning your charts you'll see AUD had a bit of a pop during the Asian timezone today. It came in response to a hefty beat on November retail sales figures which seemed mainly to do with Black Friday sales events. The consumer has been in the doldrums in Australia despite rate cuts from the RBA back in mid-2019 and a government boost (small tax cut) so today's headline was a decent one, and the previous month got a tiny revision higher also. See the post above for more (ps. you really should - there are dark clouds ahead for this data point I reckon).
AUD/USD was marked up on the release but soon retraced. A small range but it was pretty much the only notable currency move for the majors on the session here. Small ranges were evident elsewhere
