Forex news for Asia trading on Friday 12 November 2021
- A forecast for halved RBA bond purchases in next phase of QE scale-back
- Former adviser to the PBOC says the Evergrande problem is manageable
- Here is what’s on the economic calendar in the US for Friday 12 November 2021
- Japan to raise wages for nursery and care workers in the pending economic stimulus package
- Toyota's Japanese production lines will return to normal in December after 7 months of disruption
- Goldman Sachs lower their forecast for EUR/USD
- TD with 4 reasons for gold to head higher - forecasts
- Moody's stable outlook for Asia-Pacific economies - expecting a growth rebound
- Analysts wary of China's property downturn copying Spain's &/or US' crashes in the 2000s
- Chinese port city of Dalian reports a jump in COVID-19 cases
- PBOC sets USD/ CNY reference rate for today at 6.4065 (vs. estimate at 6.4094)
- Biden to prevent companies like Huawei, ZTE from receiving new equipment licenses
- UK Times reports that UK PM Johnson does not want to trigger Article 16 (re dispute with the EU over N. Ireland)
- ICYMI - Australian consumer inflation expectations have rocketed higher
- Biden's Fed Chair decision coming soon - "Lael Brainard is more aligned with Biden’s economic agenda"
- ECB's Lane and Fed's Williams are both speaking on Friday 12 November 2021
- The UK and Iran met Thursday ahead of the resumption of nuclear talks this month
- Japan Q3 GDP shrinkage (data due Monday) to be followed by more stimulus (announcement later in the week)
- One-third of China's SMIC board of directors has resigned, effective immediately
- Trade ideas thread - Friday 12 November 2021
- New Zealand - BusinessNZ manufacturing PMI for October 54.3 (prior 51.4)
- New Zealand to issue a sovereign ‘green’ bond in 2022
The move higher for the USD on Thursday in the US carried on in Asia today albeit in more limited ranges. USD/JPY scaled heights above 114.25 and USD/CHF, too, added gains.
EUR, GBP, AUD, NZD, CAD all fell, to varying degrees.
Data flow was barely anything, New Zealand's manufacturing PMI for October rose a little. Other news flow was also very slow. Bitcoin was volatile in, for it, a limited range. BTC/USD fell briefly to around US$62.5K before jumping back to approach $65.5K.
As I update regional equities have been mixed, Japan and Hong Kong are higher while the Shanghai Composite is straddling an unchanged level.
Choppy BTC trade:
