Forex news for Asia trading Monday 21 September 2020
- Social media rumours that Saudi Arabia King Salman is in critical condition
- Goldman Sachs tips value shares as better bet on a Covid-19 vaccine than cyclicals
- China 1 and 5 year LPR set at 3.85% and 4.65% respectively
- Global Times editor Hu Xijin's threatens a war on Australia
- PBOC sets USD/ CNY reference rate for today at 6.7595 (vs. Friday at 6.7591)
- FX option expiries for Monday September 21 at the 10am NY cut
- NZ PM Ardern announces move to lower Covid-19 alert level
- Shell has now evacuated all personnel from its US Gulf platform Perdido
- From the Federal Reserve this week we get a Chair Powell a-thon
- South Korea 1st 20 days of September exports +3.6% y/y
- Uk manufacturers see no evidence of a ‘V’-shaped recovery from coronavirus
- UK data - Rightmove house prices +0.2% m/m (prior -0.2%)
- RBNZ meet this week - preview - Shadow board favour QE over negative OCR
- ForexTB set to launch new innovative trading platform
- GBP lacks any catalyst for a significant bounce - its likely to fall to 1.25
- UK Chancellor Sunak to extend business support loans
- UK Chief Medical officer says coronavirus trend heading in the wrong direction, at a critical point
- Trade ideas thread - Monday 21 September 2020
- China's President Xi says economy remains resilient despite external risks
- UK coronavirus - reports that London's mayor is to seek lockdown restrictions on Monday
- The ECB has launched a review of its PEPP QE bond-buying scheme
- Monday morning open levels - indicative forex prices - 21 September 2020
Weekend
- How Ruth Bader Ginsburg's death will move financial markets
- Tropical storm Beta will threaten Texas coast
- CAD/JPY was the biggest FX mover this week
After opening weak US equity index futures on Globex recovered, currencies followed along on the rise like obedient dogs. EUR, GBP, AUD, CAD, NZD are all higher against the dollar as I update. The ranges have not been large but for Asia they are OK sort of moves.
It was a Japanese holiday on Monday (Respect for the Aged Day) and another will follow on Tuesday (Autumn Equinox Day). Yen added on points against the dollar but USD/JPY has remained above its Friday US session lows circa 104.30.
There was news flow over the weekend and during the session but nothing of too much urgent significance for currencies. The UK appears to be edging closer to further lock downs.
