Forex news for Asia trading Thursday 17 September 2020
- Bank of Japan monetary policy statement - no change to policy (as expected)
- RBA Kohler says lending to small business is little changed since the onset of the pandemic
- The US plans to sell up to 7 major weapons systems to Taiwan
- Preview of the Bank of England monetary policy decision 17 Thursday September 2020
- RBNZ says stress tests show need to boost bank capital levels
- Australian jobs report for August: Employment +111K (vs. expected -35K) Unemployment 6.8% (vs. 7.7%)
- Japan economy minister Nishimura says PM Suga's instructions are to take steps without hesitation
- PBOC sets USD/ CNY reference rate for today at 6.7675 (vs. yesterday at 6.7825)
- FX option expiries for Thursday September 17 at the 10am NY cut
- Singapore NODX up m/m and y/y, both beating estimates
- Asia morning trade seeing the move down for EUR/USD extending lower
- Oil traders - heads up for the OPEC committee meeting today, Thursday 17 September 2020
- Coronavirus - More on the tighter lockdown restrictions to be placed on England's North East
- Bank of England monetary policy decision Thursday 17 September 2020 - likely GBP impact (spoiler - none)
- SimpleFX is the first forex broker to offer Chainlink
- New Zealand GDP for Q2 -12.2% q/q (sa) (vs. expected -12.5%)
- Trump says he'd like a bigger stimulus package than smaller
- Trump says he will get a briefing on TikTok Thursday US time
- US Coronavirus - Trump campaigning on big vaccine promises
- US coronavirus relief haggling continues - Pelosi says she spoke with Mnuchin today
- Brexit - Biden warns the UK on US trade deal, says the UK must respect Good Friday agreement
- Trade ideas thread - Thursday 17 September 2020
- Coronavirus - UK government minister says there will be further restrictions imposed on northern England
Losses for currencies pretty much across the board with flows into the US dollar continuing here in Asia. US stock index futures lost ground with the risk-off sentiment. The People's Bank of China were not to be outdone, after the nearly 400 point revaluation for the CNY against the USD on Wednesday the Bank did it again to the tune of 150 points this time. For the session overall though yuan has lost ground against that strong USD.
News flow was slow but there was plenty of data.
New Zealand Q2 GDP came in slightly better than forecast (that is the deep, deep contraction in activity was -12.2% instead of -12.5% expected). At the time of release the NZ dollar barely responded but it has dropped on the day as the USD gained.
Australia reported its August job numbers, these were a stunning beat; a huge 111K gain for headline employment and a 6.8% unemployment rate (vs. 7.7% expected). AUD/USD popped 35 or so points back to session highs (it had lost ground earlier) but soon lost all of that gain as US dollar buyers once again swept through.
Offshore yuan down also (USD/CNH up) - hourly candles:
