ForexLive Asia FX news wrap: Forex greets 2020, “Is this thing on?"
Forex news for Asia trading 2 January 2020
Holiday mode persisted in the Asian timezone today and will not be shaken off until Monday. Japan and New Zealand markets were shut leaving Australia, Singapore, Hong Kong and China to carry on.
News flow was very light indeed but for data we did have a suite of manufacturing PMIs released during the session, The big one was for China:
- China Caixin Manufacturing PMI for December: 51.5 (expected 51.6)
- Asian economies manufacturing PMIs (nearly) all improve in December (South Korea the largest economy out of this lot, improved and into 'expansion')
- Australia - CBA Manufacturing PMI for December, final, 49.2
Currency movement has been very small indeed.
- December manufacturing PMIs still to come from Europe today
- FX option expiries for today, Thursday 2 Jan at the 10am NY cut
- Goldman Sachs says none of the sources of a (US) recession "seem too concerning"
- PBOC sets USD/ CNY reference rate for today at 6.9614
- (ICYMI) - US President Trump says he'll sign China trade deal on January 15
- Singapore economic growth in Q4 2019 +0.1% q/q (vs +0.4% expected)
- Stick this in your diary - China NPC will set the GDP target for 2020
- Australian house prices in December +1.2% m/m (prior +2.0%)
- The PBOC announced an RRR cut - Global Times says "plenty of room" for more
- FT reports Brexit worries will continue to hold back UK economic growth this year
- Trade ideas thread - Thursday 2 January 2020
- UN sec-gen 'deeply concerned' North Korea said it could resume weapons tests
- China cuts RRR by 50 basis points