ForexLive Asia FX news wrap: AUD, NZD, regional equities - down
Forex news for Asia trading Wednesday 13 March 2019
- Japan chief cabinet sec. Suga says expects BOJ to keep trying to hit inflation target
- CIBC on the Australian dollar - may be scope for upside surprises (here's why)
- PBOC sets USD/ CNY central rate at 6.7114 (vs. yesterday at 6.7128)
- CBK on the Australian dollar - looking for it to recover
- Where to for the Australian dollar? NAB outlook.
- Former PBOC Gov governor Zhou says China should learn from Japan's lost decade
- ANZ not joining in on the RBA rate cut calls - say the bank is on hold for 2019 & 2020
- Where to now for Brexit? Scenarios, and what is most likely.
- Japan Core machinery orders for January: -5.4% m/m(expected -1.5%)
- Japan PPI for February: 0.2% m/m (expected 0.1%)
- Australia Westpac Consumer Confidence for March: -4.8% m/m (prior +4.3%)
- BBC: UK does not intend to have any controls at the Irish border if a no-deal Brexit
- German foreign minister says UK parliament bring no deal Brexit closer
- US Sec State Pompeo says China is blocking other SE Asian countries development
- Here is Citi on being short EUR/USD - why that's not valid now
- FAA says it has found no basis for grounding Boeing 737 Max aircraft so far
- Australian data is a risk for the AUD
- New Zealand food prices for February: +0.4% m/m (prior +1.0%)
- Brexit - British Industry says “It’s time for Parliament to stop this circus.”
- Brexit. 29 - 13 = 16 days to go! (ps. there is no way there will be an exit deal by then)
- Brexit - group of UK MPs to propose Article 50 extension to (month of ) May
- Goldman Sachs on Brexit and GBP (spoiler - GBP to fall on uncertainty)
- Oil - private inventory data shows a surprise draw in headline stocks
- Brexit - British Industry says this must be the last day of failed politics
Brexit news flow petered out in the early morning here, unlike Tuesday where it kept on coming! After the big drop for GBP during Europe/UK time and the swings during US time movement here for the currency was more restrained, relatively at least. Cable has tip-toed a little higher, to a top under 1.3095 for the session. Buckle up for action as the UK parliament and Brexit moves begin all over again.
The Australian dollar slid for the day, on a poor mood for risk but also on a poor result for the monthly consumer sentiment survey from Westpac. Weaker consumer confidence had been foreshadowed in the weekly ANZ data so the drop in WPAC data did not come as much of a surprise at all, but nevertheless, AUD/USD lost ground, down to lows circa 0.7050. NZD/USD fell also.
Yen benefitted from some favourable flow, USD/JPY trickled to circa 111.15 but is back above 111.25 as I update. Data today was not positive for the yen, but is unlikely to sway the BOJ from a steady course at their meeting this week (Statement due Friday).
Gold traded higher, as did USD/CAD. USD/CHF is barely changed on the session, as is EUR/USD.
- Nikkei -1.45%
- Shanghai -0.37%
- HK -0.58%
- ASX -0.48%
Still to come:
- Eurozone data due Wednesday - Industrial Production for January - preview
- US Jan. Durable good data due Wednesday ... preview
- Forex options expiring Wednesday 13 March 2019