Forex news for Asia trading Thursday 11 April 2019
Brexit …
The EU leaders summit agreed to an extension for Brexit, to October 31, 2019. Yep, Halloween indeed. There are a few conditions and early get-out clauses, in the posts here:
- Here we go - UK PM May finally gets a Brexit word in
- Brexit - Eu leaders agreed to October 31 extension date, review in June
- Yes, the EU have agreed a Brexit extension - but here is the real surprise news of the day
- EU offers October 31 Brexit extension date. Halloween night. Coincidence? I think not.
- EU's Tusk comments on Brexit extension - gives the UK another 6 months to sort it out
- Brexit extension to October 31. Review in June. UK to take part in EU elections.
- Brexit extension - comments from Juncker, Merkel
- Brexit - comments giving away that even October 31 is not a hard deadline
As the headline says, the currency response was limited. Cable has seen little more than a 15 point or so range since the announcement and is currently sitting just under 1.3100.
EUR/USD has done even less, barely changed from around 1.1275.
Other …
- Trump not happy with the EU - "a brutal trading partner with the United States"
- More on Kim Jong Un urging ‘severe blow’ to those sanctioning North Korea
- RBA Deputy Governor Debelle speech - not on the economy or monetary policy
- On the RBA - "Debelle poured cold water over near-term rate cut hopes"
- China March CPI 2.3% y/y (expected 2.3%) and PPI 0.4% y/y (expected 0.4%)
- PBOC sets USD/ CNY central rate at 6.7088 (vs. yesterday at 6.7110)
- Australia - ANZ on 'green shoots in the housing sector'
- AUD traders - election will happen on May 18. This time there is AUD risk.
- UK RICS house price survey for March comes in at -24% (expected -30%)
- North Korea (Kim Jong Un) says he may have a meeting with President Putin soon
- New Zealand data - Food price inflation +0.5% in March (prior was +0.4%)
- AUD traders - PM Morrison has called the election for May 18
- More from EU's Dombrovski - hopes to avoid an escalation of trade conflict with US
- FT reports US and China (trade talks) have agreed to establish enforcement offices
- EU's Dombrovski says have seen some slowdown In bloc's economies
News and data flow was non-impactful for the session. The talk of an Australian election to be called today (May 18) was out on Forexlive during the US session and was confirmed here, the PM did indeed call the election for the rumoured date. AUD and NZD have been small movers, both off a few points. China's March inflation data came and went without too much of a ripple, the data coming in as expected.
USD/CAD has been a star in the lacklustre field today, its up 20+ points. Oil is a touch lower on the session which will be an input into the CD losing a few points.
Gold is down just a touch also.
Still to come:
