Forex news for Asia trading Thursday 12 September 2019
- BOJ Gov. Kuroda and Japanese PM Abe meeting
- CHF is 'not strong in real terms' - no need for SNB intervention
- Here's a weird one - Trump said to be considering 15bn credit line for Iran
- Oil - What to expect from the OPEC gathering in Abu Dhabi on Thursday
- ANZ oil strategy - expect prices to rise
- PBOC sets USD/ CNY reference rate for today at 7.0846 (vs. yesterday at 7.0843)
- FX option expiries for Thursday September 12 at the 10am NY cut
- Australian Consumer Inflation Expectations Sept: 3.1% (prev 3.5%)
- AUD/JPY surge on the Trump tweet - risk favourable
- Japan - PPI for August: -0.3% m/m (expected -0.2%)
- Japan Core Machine Orders for July: -6.6% m/m (expected -8.0%)
- Trump delays tariff increase for 2 weeks (October 15 instead of October 1)
- UK RICS house price survey for August comes in at -4% (expected -10%)
- NZ data - August food prices +0.7% m/m (vs. prior +1.1%)
- Trade ideas thread - Thursday 12 September 2019
- Gold outlook - central banks have it on a string
- More from Deutsche Bank. On the US dollar - "the risks aren’t around intervention"
- More from Navarro on China - great deal or no deal
- US Director of Trade and Manufacturing Policy Navarro wants to see what happens
- Deutsche Bank forecasts four Fed interest rate cuts … by January!
An encouraging sign in US/China relations today with the US President tweeting he'd be delaying the next scheduled hike in tariffs on China for two weeks. This is not a huge shift, but is nevertheless a (small) positive sign that relations are edging just a touch warmer after the big chill.
Risk markets took encouragement, with a rise for AUD and a fall for yen and, to a lesser extent, CHF. AUD/JPY since retraced some of the gains but it didn't stick.
We had some data from Japan (and NZ) and only light news flow. ER was more or less flat the entire session as we await the European Central Bank policy announcement and the final press conference from Dr. Draghi as ECB President. What to expects are here
- Another ECB preview: 20bp rate cut, tiering, restart QE (of 30bn euro per month)
- Here's a downside call for EUR/USD on the ECB
- ECB meeting Thursday 12 September 2019 - here are the previews
And, US CPI due today also:
