Forex news for Asia trading Tuesday 23 April 2019
- Japan PM Abe and US President Trump to meet Friday this week - here's what is not on the agenda
- UBS bumps up its China GDP forecasts for 2019 to 6.4%
- Japan - Sumitomo Life confirms plans for holdings of offshore assets in 2019/20
- BOJ's Maeda - Bank of Japan ready to ease further as needed
- PBOC sets USD/ CNY reference rate for today at 6.7082 (vs. yesterday at 6.7035)
- Yen crosses weaker as Asia gets more active
- Barclays on oil - sees upside price risk
- Japan economy minister Motegi trade talks with Lighthizer from April 25
- Goldman Sachs on the Australian dollar - pessimism overdone, external environment improving
- NZD traders - Westpac says May is perhaps the last chance for an RBNZ rate cut in 2019
- China officials endorse Goldilocks monetary policy
- Miss the news that China and Japan are to buy each other's ETFs? Here you go then.
- ICYMI - Trump tightens the screws on Iran's oil exports
- Trade ideas thread - Tuesday 23 April 2019
- AUD traders - overnight news on big spending plan election promise
- ICYMI - stories of less stimulus to come from China (AUD traders welcome back to this)
News and data flow was very light indeed as major Asian FX markets returned fully after the Easter break. Despite there not being a lot of catalysts for moves yen crosses had a slide. USD/JPY lost ground from circa 111.95 in late US trade to below 111.70 during the Tokyo morning. The slide was a slow one, taking about 40 minutes while the recovery (of around 50%) has stretched out just a little longer.
As USD/JPY fell a few other currencies lost ground against the big dollar. These moves were not as large points-wise as the USD/JPY slide but they did results in yen crosses looking quite soft for the session.
EUR/USD dropped 10 or so points, AUD/USD a similar amount.
GBP managed gain against the USD, again point moves were small only.
If you are trading the AUD and just back from a holiday a heads up that Q1 inflation data is due 0130GMT on Wednesday 24 April, previews posted below.
Still to come:
