Forex news for Asia trading Friday 11 January 2019
- Morgan Stanley short USD/CHF (target, stop)
- Japan's budget will be revised again - more money for workers
- More on US China trade talks
- Fitch on oil - looking for higher prices through 2019
- US President Trump says he'll most likely declare an emergency if no border deal
- Hitachi denies its made a decision on UK nuclear project
- Hitachi has decided to halt its UK nuclear project (and book a 200bn yen charge)
- Goldman Sachs raises forecast for oil prices
- Goldman Sachs on gold - raise their 12 month price forecast to $1,425
- PBOC sets USD/ CNY reference rate for today at 6.7909 (vs. yesterday at 6.8160)
- Australia Retail sales for November: 0.4% m/m(expected 0.3%)
- Fed's Clarida Q&A: Fed must look forward on policy
- Fed's Clarida: Fed can afford to be patient, see how the 2019 data evolves
- Data show Japanese investors sold a LOT of Australian bonds ( … in November)
- More Japan data, BoP current account for November ¥ 757.2bn (expected ¥ 566.3bn)
- Yes, there is a 100kg gold coin. Yes, it was stolen (4 guys with a wheelbarrow … srsly)
- Japan Household spending for November: -0.6%% y/y (expected -0.1%)
- US Treas Sec Mnuchin: Chinese Vice Premier likely to visit US for trade talks
- Nomura on what have been the critical trigger for US dollar moves
- Confederation of British Industry - no deal Brexit to shrink GDP by up to 8%
- City of London does not want a 2nd Brexit referendum (did they even ask their FX dealers?)
- Building approvals data from New Zealand for November: -2.0% m/m (prior +1.5%)
- Trade ideas thread - Friday 11 January 2019
- Australia 'construction' PMI for December 42.6 (prior 44.5)
Federal Reserve Vice Chairman Richard Clarida spoke in New York Thursday evening, staying on track with the dovish remarks from other Fed officials made throughout the (US Thurs)day.
Also supporting risk here in the time zone was news that Chinese Vice Premier Liu He, who is also the official in charge of trade negotiations, will visit the US on January 30 and 31 for further trade talks (obviously at a higher level than this week's talks).
That was pretty much it for market-relevant news. EUR, AUD, NZD, CAD all gained against the USD. As did the onshore yuan, it headed higher against the USD also, towards a 6 month high.
Data flow today from New Zealand, Australia and Japan. Australian retail sales came in at a beat, the Australian Bureau of Statistics citing solid results fro 'Black Friday' sales, which could result in sales being pulled from the December results. Nevertheless, a positive for the consumption component of Q4 GDP at this stage.
Japan data disappointed, the yen gained a few points regardless, down 25 odd points from circa 108.45 highs (and 108.50 late US time)
Still to come:
