Forex news for Asia trading Monday 15 April 2019
- Weekend - ECB's Villeroy says monetary policy must remain accommodative
- Aussie markets to close for 4 days. 'Hold my beer', says Japan, markets close for 10 days!
- Goldman Sachs analysts say Trump ‘more likely to win’ than lose second term
- North Korean leader Kim Jong Un could hold first summit with Putin next week
- KKR says investing in Japan their “highest priority”
- US caves in on demands for China to reduce state industrial subsidies
- JP Morgan on gold, going higher but temporarily stalled
- PBOC sets USD/ CNY mid-point today at 6.7112 (vs. Friday at 6.7220)
- OECD says it may be premature for BOJ to focus on details of exit strategy (YA THINK???)
- Nordea long EUR/USD - target and stop loss.
- US fiscal imbalance 'out of control', but a strong offsetting positive factor for the USD
- Brexit - survey shows expected long-term deterioration in UK business environment
- A shrinking proportion of UK firms are expecting a BoE rate hike in the next 12 months
- UK data - Rightmove house prices for April: +1.1% m/m (prior +0.4%)
- On China's credit numbers - ING wants to see a RRR cut to maintain strong credit growth
- New Zealand, services PMI for March: 52.9 (prior 53.6)
- ICYMI - latest numbers show China credit growth surging
- Catch SNB Jordan's weekend FX intervention comments … before they catch you
- Weekend - Russia Fin Min Siluanov says Russia & OPEC may decide to boost production
- ICYMI - Currency intervention in the US cross hairs
- PBOC Deputy Governor Chen says will keep the yuan in line with fundamentals
- ECB's Praet, Weidmann don't rule out tiering rates
- Weekend - ECB's Vitas Vasiliauskas - 'not very enthusiastic about possible tiering'
- Magnitude 5.0 earthquake off Japan Hokkaido island
- Trade ideas thread - Monday 15 April 2019
- Weekend - Draghi sounds alarm bells over Fed independence
- Weekend IMF Statement - growth risks 'tilted to the downside', govmts prepared to act
- Weekend Mnuchin comments on US – China trade talks: enforcement ‘in both directions’
- Monday morning open levels - early indicative forex prices 15 April 2019
- Trump tweets that the stock market would be 18-35% higher if Fed had "done its job"
- SNB's Jordan sees no reason to change rates, but has room to cut or intervene
- Draghi: Key message from IMF meeting is that there will be significant growth slowdown
- AUD/JPY finally breaks the range
A little USD weakness to open the week here in Asia with EUR, GBP, yen all ticking a little better against the big dollar. There was plenty of weekend news and comments from central bankers and what have you, but nothing to surprise markets. Data flow was sparse and only of lower-tier importance.
Brexit murmurings will continue, but the near-term pressure is off. Cable gathered 30+ points today in a lacklustre session.
Elsewhere ranges were narrower. USD/JPY popped above 112 in the Tokyo morning. The Nikkei hit heights last seen in early December last year. While USD/JPY has drifted off back below the figure (in a very small range) the stock market index is barely off its morning high (as I post).
Nikkei:
AUD/USD and NZD/USD are both little changed. NZ Q1 CPI data is later this week - a focus. Australia Q1 CPI follows next week. The Reuters headline the US is back pedalling on demands in China trade talks (unnamed sources, admittedly) failed to have much of an impact on the AUD.
Still to come:
