Forex news for Asia trading Wednesday 18 September 2019
- Guggenheim's Recession Probability Model shows US recession can not be avoided
- China's State Planner says pressure in stabilising employment
- Hedge funds turned bullish on oil before Saudi attacks
- PBOC sets USD/ CNY reference rate for today at 7.0728 (vs. yesterday at 7.0730)
- Australia - Westpac Leading Index for August: -0.28% m/m (prior +0.14%)
- Japan August export data - more
- More on that Saudi press conference
- Japan data - August exports come in not as bad as expected (imports worse)
- "EUR valuation at new 17-year low"
- 40% of UK firms with EU suppliers have signed 'Brexit clauses'
- New Zealand BoP Current Account Balance for Q2: -1.106bn NZD (expected -1.1bn NZD)
- Saudi Defence Ministry press conference coming up - preview
- Trade ideas thread - Wednesday 18 September 2019 … a pre-FOMC day coming up?
- RBA has a "clear easing bias … dovish tinge … downbeat .... subdued language"
- US President Trump and Japanese PM Abe to meet next week
- UBS on the RBA - October meeting live
- More from Kudlow - 'certain optimism in the wind' on China
- More from Gundlach - says the next big move in the US dollar is down
- Kudlow says probably going to enjoy a pretty good Q3, Q4, and Q1
- Nomura on the RBA - October meeting is 'more live'
- Gundlach says he is 'less positive' on gold
- BoE Governor Carney may be asked to extend his tenure if Brexit is delayed again
- Private oil data shows surprise build in headline crude oil inventory
- Trump administration proposes closer scrutiny of foreign investment in tech, infrastructure
- FedEx lowers 2020 earnings forecast
Hourly candles AUD/USD:
The Australian and New Zealand dollars gave back a little of their overnight gains during the session here. NZ data came in as expected while data from Australia was of lower-tier focus only (but not encouraging, regardless). Yen was also a small loser, USD/JPY edging up towards 108.25. EUR/USD slid small, which held EUR/JPY little changed. (As I click publish USD/JPY dropping back to be barely changed on the session …).
Cable dropped under 1.2500, but again a small range while USD/CHD is up a few tics.
Ahead of the BOJ meeting tomorrow we got more poor data from japan on external trade, weak exports and imports again.
Forex markets are focused on the FOMC coming up during US time, previews in the links. Ahead of this will a news conference from Saudi Arabia which is expected to see the blame laid squarely on Iran for the weekend oil attacks.
Still to come:
- FX option expiries for Wednesday September 18 at the 10am NY cut
- FOMC monetary policy decision due Wednesday 18 September 2019 - preview
- NZD traders - heads up for NZ Q2 GDP (in a little under 24 hours) - preview
- Australian jobs report is due Thursday - preview
- BOJ monetary policy meeting concludes Thursday 19 September 2019 - preview
