Forex news for Asia trading Tuesday 19 November 2019
- Trump says he told Powell that Fed has set interest rates too high relative to other countries
- BOJ Kuroda recap - denies ever saying BOJ has unlimited tools to ease policy
- China's Global Times reports some passenger trains between Hong Kong and mainland are suspended
- More responses to the RBA Nov minutes earlier - the "killer line"
- AUD barely off its session low following the RBA minutes earlier on Tuesday
- Bank of Japan Governor Kuroda says has no preconception on next policy move
- Bank of Japan Governor Kuroda crypto comments
- PBOC sets USD/ CNY reference rate for today at 7.0030 (vs. yesterday at 7.0037)
- FX option expiries for Tuesday November 19 at the 10am NY cut
- BOJ Governor Kuroda says Japan's economy is expanding moderately as a trend
- AUD under its overnight low, prompted by the November RBA minutes release
- RBA minutes: AUD is at lower end of recent range
- China press reports China has appointed a new police chief to Hong Kong
- NZ to apply a national interest test to the sale of sensitive and high risk assets to overseas buyers
- NZD "very cheap" compared to fair value estimates
- What's ahead for the Bank of Canada - further rate cuts to come in the new year
- Brexit - EU’s trade chief says Johnson will only get a “bare bones” trade deal (or none at all)
- Australian data - weekly consumer confidence falls again. 109.9 (prior 111.1)
- Bank of Canada Wilkins to speak on Tuesday - Poloz weighs in later in the week
- Some AUD/NZD views (target, stop)
- NZD traders - heads up for the GDT dairy auction coming up Tuesday
- Here's a forecast for EUR/USD lower - target
- Trade ideas thread - Tuesday 19 November 2019
- NZ data - PPI higher in Q3 2019
- RBNZ's Hawkesby says the OCR needs to be kept at a low level for some time
A sharp down move for the AUD today upon the release of the Reserve Bank of Australia November meeting minutes. They revealed that the RBA did give consideration to a rate cut at the meeting but held off to allow the impact of prior cuts this year to impact. There were also downbeat comments on wage growth and lower rates negatively impacting on confidence.
AUD/USD was circa 0.6805 prior the minutes and dropped toward 0.6785 as they were published. Since then its been a slow partial retrace.
NZD/USD is a little lower alongside AUD. The kiwi was weighed upon a little earlier by some comments from the RBNZ's Hawkesby (rates to stay low for some time - pretty much a repeat of Orr's key point he made last week).
There were round trips (in small ranges) for EUR/USD and USD/JPY with little substantive news nor data to go on. Bank of Japan Governor Kuroda spoke in parliament but added nothing much new (Kuroda is a master at doing this).
Cable is little changed on the session.
