Forex news for Asia trading Thursday 14 February 2019
- More on the US consider 60 day China tariff extension
- US said to be considering a 60 day extension of China tariff deadline
- China trade data responses
- China's trade figures with the US in January, exports down, imports collapse
- January China trade balance in USD terms: Surplus of 39.16bn USD (expected 34.3bn)
- January China trade balance: CNY 271.2bn (expected CNY 245bn)
- Japan Q4 GDP bounce back - recap
- PBOC sets USD/ CNY central rate at 6.7744 (vs. yesterday at 6.7675)
- PBOC official says considering measures to adjust lending rates for companies
- Goldman Sachs on Australia and the RBA
- Goldman Sachs on Japan GDP
- More from Japan economy minister Motegi on trade issues, Brexit
- US Federal judge finds Manafort lied to Mueller probe about contacts with Russian aide
- Japan economy minister Motegi: Economy is in gradual recovery
- UK data - RICS house price balance for January -22% (expected -20%)
- Japan Q4 GDP (prelim): 0.3% q/q (expected 0.4%)
- Trade recommendation to buy AUD against NZD
- Brexit a national crisis say former diplomats, call for delay. UK weakened by ‘fiasco’
- US media report Trump 'won't sign' funding agreement that includes contractor back pay
- Brexit - UK Times reports 40 Former British Ambassadors call on May to delay Brexit
- Reports of US raids of Al Qaeda site in Libyan city
- US - China trade talks (officially) start today
- Barclays outlook for the RBNZ - no OCR change for the foreseeable future
- NZ January food price inflation index +1.0% m/m (prior -0.2%)
- Trade ideas thread - Thursday 14 February 2019
- Goldman Sachs on the factors posing risks to US growth (recession probability is low)
The US dollar edged a little stronger in early trade in Asia today following gains during US trade. As more Asian liquidity entered though the move turned around and currencies (excl yen) net gained for the balance of the session.
News and data flow early was very light. We got Japanese GDP (preliminary for Q4 2018), a bounce from the negative result of Q3 but with little currency impact.
With US-China trade talks beginning in Beijing today attention turned to release of trade balance data from China for January. These hit at 0300GMT, showing a big beat for exports. January data is often distorted by proximity to the lunar new year, so do bear that in mind when reading the data (see bullets above)
AUD got a further boost from the China data. NZD had outpaced the AUD during the session though.
A further boost was given for currencies, and USD/JPY popped to a fresh session high, when a headline crossed that the US was considering a 60-day extension for its China tariff deadline.
Still to come:
