ForexLive Asia FX news wrap: Oil a mover, Libya output curtailed

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 20 January 2020 

Weekend news of impact centred on Libya. Bullet points are here:

Long story short the impact is to take out around 800k barrels a day from Libyan output (which is usually around 1.3 million barrels/day). CL contracts on Globex opened higher with a gap on the news, extended and barely retraced. A US holiday Monday has thinned out trader presence.

GBP pairs opened a little lower on the session here with comments from UK Chancellor of the Exchequer on Friday to the Financial Times causing concern in Europe over the weekend, bureaucrats there warning of dire economic impact, and manufacturers at home the same. Bullets for more:

Cable has since retraced. 

Forex news for Asia trading Monday 20 January 2020 e

The People's Bank of China strengthened the onshore yuan at its daily fixing today:

And left the monthly loan prime rate-fixing unchanged for the second month in a row.

Slow volatility continued for major forex pairs, net change is hardly noticeable from late Friday levels.

Regional stock markets are higher:

  • China Shanghai +0.4%
  • Australia ASX200 +0.3%
  • Japan's NIkkei +0.2%
  • HK's Hang Seng a laggard at nearly -0.3%.
  • South Korea's KOSPI +0.8%

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