Forex news for Asia trading Friday 14 February 2020
- BoK Gov Lee says will keep liquidity ample
- Numbers of new coronavirus cases reported outside Hubei declined for 10th consecutive day
- South Korea reported no new novel coronavirus case for the third consecutive day
- China reports 5,090 new coronavirus cases for 13 February
- Tesla is recalling more than 3,000 Model X cars in China
- Moody's: Global economic growth to remain sluggish in 2020
- Update on the coronavirus cruise ship quarantined in Yokohama
- AUD well under current fair value
- PBOC sets USD/ CNY reference rate for today at 6.9843 (vs. yesterday at 6.9785)
- FX option expiries for Friday February 14 at the 10am NY cut
- No evidence the new coronavirus spreads through the air, but it’s still possible
- Senior BOJ official: Japan's Q4 2019 GDP may have contracted sharply
- More on the cruise ship coronavirus test from earlier
- Japanese Eco Min Nishimura: Japan's Q4 2019 GDP 2019 likely weaker due to sales tax hike, typhoon
- China's Hubei province has reported 4,823 new coronavirus cases
- Fed's Williams: Fed is not trying to eliminate market volatility
- Australia - Cruise ship in lock down in Sydney Harbour. Passenger being tested for coronavirus
- Fed's Williams says the economy is in a very, very good place
- UK press reports UK PM Johnson and US President Trump meeting has been postponed
- Trade ideas thread - Friday 14 February 2020
- New Zealand food prices in January +2.1% m/m (prior -0.2%)
- US has extended Huawei's temporary licence for 45 days
- New Zealand - BusinessNZ manufacturing PMI for January 49.6 (prior 49.3)
Various coronavirus news items crossed during the session, some of them a little more encouraging than others - more cases and not just in China, but the pace of new cases reported seems to not be accelerating. None of the virus related stories had more than a fleeting impact on FX, with small ranges persisting.
EUR/USD managed to dribble a little lower to register a fresh low since April of 2017. There was no idiosyncratic news for the euro, just more of the same weakness.
Some AUD/NZD flows (AUD buyers) had AUD up a little while NZD the opposite.
Apart from the virus news there was little else. Bank of Japan Executive Director Maeda (see bullets above - he is the 'senior official' in the post) warned on poor GDP data to come for Q4 2019, as did the Economy Minister. And they laid the groundwork for more weakness in Q1 of this year likely (virus impact).
Chinese stock markets gained for the session, while gold has fallen back a little.
Shanghai Composite:
Roses are red
The down candles are … blue?
I'm confused
Dunno 'bout you.
Happy Valentine's Day if you are celebrating it.
