Forex news for Asia trading Tuesday 23 July 2019
- Here is even more on the shots fired by South Korea at the Russian military plane
- China has launched an anti dumping probe on US propanol
- More on the South Korean military firing shots at a Russian plane
- South Korean military fires warning shot at Russian military plane
- Japan finance minister Aso cites Abe's election win as support for sales tax hike
- PBOC injects nearly 300bn yuan into market for one year in TMLF
- PBOC said to conducting a targeted MLF today
- The ForexLive competition to name North Korea's new missile-capable submarine
- HK press: US trade war negotiators likely to visit China next week for face-to-face talk
- PBOC sets USD/ CNY reference rate for today at 6.8818 (vs. yesterday at 6.8759 )
- FX option expiries at the 10am New York cut today, 23 July
- North Korean media announcement on new "strategic" submarine
- Huawei cutting over 600 jobs at U.S. research arm Futurewei
- ANZ on that RBNZ QE news … "should help take a bit of the heat out of the NZD"
- ANZ on the SGD - expect MAS easing (October)
- RBNZ says work on unconventional policy is at a very early stage
- Australia - ANZ Roy Morgan Weekly Consumer Confidence: 116.3 (prior 115.8)
- More from RBA's Kent: Fed rate cut should be already priced into FX
- RBA's Kent: AUD might have been higher without the recent RBA rate cuts
- CAD being impacted by both weaker external and domestic environments
- Speech from RBA's Kent - full text - not on his outlook for the economy nor monetary policy
- BlackRock says ECB can boost growth across Europe by buying stocks
- BOJ Governor Kuroda spoke in the US on Monday - pretty much the usual
- US President Trump says Congress have reached a deal on debt limit suspension
- GBP - New UK PM (to be) Johnson's first actions - tax cuts, big spending, borrow more
- GBP traders - The new UK Prime Minister will be announced Tuesday morning London time
- Trade ideas thread - Tuesday 23 July 2019
- Moody's affirms Boeing rating but downgrades outlook - lesson for forex traders?
The US dollar is a touch stronger nearly across the forex board on the session here, with various buying triggers reported across different sources, such as:
- Macro funds positioning ahead of the ECB this week (ECB meet Thursday, they'll be dovish)
- US President Trump announced that Congress and the White House had secured a funding deal, raising the debt limit
NZD had a sharp drop, with a report that the Reserve Bank of New Zealand was working on unconventional policy (at an early stage). Check out the post above as I put my tin hat on for a theory of the RBNZ floating the idea out there into the public space. Maybe they did, maybe they didn't, but it's a thought that the market (humans and algos) grabbed hold of and sold the kiwi $.
Other news was, well, significant. It centred on South Korea firing warning shots at Russian aircraft that had entered its airspace. More in the posts above. These came on the day that North Korea revealed its new strategic (a euphemism for nuclear missile capable) submarine.
I would expect news of this nature to see flows into yen and the US dollar. Well, the USD did gain a little on the session but as for flows into yen (and CHF) ... no, not really. OK, check out the CHF .... not at all!.
