Forex news for Asia trading Monday 14 September 2020
- AUD traders - RBA minutes (September meeting) due Tuesday 14 September 2020
- New record one-day increase in global coronavirus cases, +307,930. India, the US and Brazil top the leaderboard.
- China August home prices +0.56% m/m (vs. +0.47% in July)
- Oil this week - Thursday OPEC JMMC meeting
- PBOC sets USD/ CNY reference rate for today at 6.8361 (vs. Friday at 6.8389 )
- FX option expiries for Monday September 14 at the 10am NY cut
- New Zealand PM Ardern extends current coronavirus restrictions
- Goldman Sachs says EUR/USD is undervalued, fair value is 1.30
- NZD traders heads up - NZ PM Jacinda Ardern set to announce Covid-19 alert level decision
- Iran weighs plot to kill a US ambassador, response to the killing of Qassem Soleimani
- Pfizer CEO is bullish on a coronavirus vaccine - could be given to Americans before year end
- Rumours are Oracle has won the bidding for TikTok
- SoftBank will sell ARM to NVidea, deal valued up to US $40bn
- ByteDance rejects MicroSoft's offer for TikTok
- Reuters Tankan for September - manufacturing index still very weak, negative for 14 months in a row
- Coming up today - LDP set to elect Suga as new Japan PM
- Goldman Sachs raises its three-month stock forecast to “overweight”
- ECB President Lagarde spoke over the weekend - the Bank still has an eye on euro strength
- New Zealand services PMI for August 46.9 (prior 54.3)
- Oil - BP has evacuated non-essential staff from platforms in the US Gulf
- UK’s new trade deal with Japan commits it to tougher restrictions on state aid than those in Brexit talks with EU
- Trade ideas thread - Monday 14 September 2020
- UK Chancellor Sunak could delay Budget until New Year amid second wave fears
- China has announced new restrictions on US diplomats’ activities on mainland China, Hong Kong
- China banned pork imports from Germany on Saturday
- ECB Vice-President de Guindos says the Bank does not target the EUR exchange rate, but ...
- ByteDance says "No". Will not sell or transfer the algorithm behind TikTok.
- Economic calendar due from Asia today - Monday 14 September 2020
- Monday morning open levels - indicative forex prices - 14 September 2020
Weekend:
- GBPUSD trends lower toward a key weekly target
- EURUSD tries to keep a bullish tilt into the new trading week
- The USDJPY is stuck in the mud to start the trading week. What would be eyed to get out of the muck?
- AstraZeneca coronavirus vaccine clinical trials to resume in the UK.
- September central bank overview
- Japan - front runner for PM Suga says will maintain BOJ easing, the inflation target
US equity index futures trading Sunday evening into Monday morning on CME's Globex moved higher on the session, Dow, ES and NQ all up around 1% give or take. There was a good amount of listed corporate news of relevance, with Japan's SoftBank to sell its Arm holdings to Nvidia, Oracle appears set to reach a deal of some sort of ByteDance for TikTok (the agreement does not appear to be a full sale but details are still broad only) and Gilead is to acquire Immunomedics. the deals could total around US$70bn and gave US stock sentiment a lift. Weekend news that AstraZeneca is to resume clinical trials in the UK was also a tailwind.
Forex though has not shown too much interest, with little net change on the session after gyrations in small ranges, with a couple of exceptions.
There was the usual barrage of weekend Brexit related news and opinion pieces, which saw a dip for GBP early in the session that soon recovered; cable is higher on the session, up circa 50 points from earlier lows.
NZD/USD, too, has had a bit of a gain on the day, heading back up towards 0.67 (not quite getting there yet). There was little news out of the country, lockdowns remaining unchanged about the only item of interest.
There was a snippet of info out of China that is constructive, China's top 25 construction machinery manufacturers excavator sales in August were up 51.3%, for a fifth consecutive month of growth above 50%.
