Forex news for Asia trading Thursday 20 August 2020
- Why to stay bearish on GBP/CHF
- ANZ on the FOMC and why gold dropped hard
- NZ Health Minister says will do whatever it takes to avoid further lockdown
- China 1 year and 5 year loan prime rates left unchanged, as expected.
- ICYMI - There was a report overnight that the US and China will reschedule trade talks
- PBOC sets USD/ CNY reference rate for today at 6.9274 (vs. yesterday at 6.9168)
- FX option expiries for Thursday August 20 at the 10am NY cut
- South Korea has approved phase 2 trials of COVID-19 blood plasma treatment drug
- RBA vs. RBNZ - AUD/NZD being driven by divergent policy.
- Burning the midnight oil awaiting the NZ pre-election fiscal update? Its been delayed until September
- FT report: China cautious on hitting back at US companies after Huawei sanctions
- Need a catch up on the FOMC minutes (and why they shoved the US dollar (even more) up?)
- Australia (state of Victoria) new coronavirus cases today 240
- China Securities Journal says the chance of an RRR cut from the PBOC this year has fallen
- First direct evidence in humans that antibodies to the coronavirus can thwart infection
- AUD/USD key reversal day
- Trump doubles down on his attack against US employer Goodyear - says to swap out tires in US fleet
- Japan's government says it will cover coronavirus vaccine liability risks
- Trump says he intends to restore nearly all of the UN sanctions on Iran
- RBNZ's Hawkesby says balance sheet will become a more active tool for monetary policy
- Intel (INTC) has initiated $10 bn Accelerated Share Repurchase Agreements
- ICYMI - US Trade Representative Lighthizer said today says phase one deal with China is on track
- Airbnb is to file for an IPO
- Trade ideas thread - Thursday 20 August 2020
- More on the China probe of Australian wine dumping
- Nvidia earnings come in at $2.18 vs. $1.97 estimate
The moves into and over the FOMC (higher USD, lower risk) were a, very small, continuing theme here in Asia today. For FX it was emphasis on small, with minor declines for AUD and NZD against the USD and, as I post, barely any change for EUR, GBP, yen and CHF. USD/CAD too is little changed on the session.
Late US afternoon brought comments from US Secretary of State Pompeo saying the US wanted to boost back sanctions on Iran. Trump also spoke but didn't have anything of substance to note by markets.
News and data through the session here was sparse. The People's Bank of China did set its monthly loan rates (1 and 5 year LPR) - unchanged again for the fourth month in succession.
Regional stocks were pounded, both Singapore and HK are down 2% or more as I post.
Even gold is little changed on the session … a few dollars off its lows though :
