Forex news for Asia trading Thursday 23 January 2020
- Bank of England policy meeting preview - rate cut "a distinct possibility"
- Coronavirus - China's People's Daily says 10 cities now have curbs on travel
- Australia gets onboard! 6 people being tested for the coronavirus
- UK Times reports incoming BOE gov is concerned on a prolonged fall in the stock market or house prices
- USA- New Jersey hospital assessing a patient for possible coronavirus infection
- RBNZ's model of core inflation increases to 1.8% y/y (from 1.7% prior)
- Japan's Nishimura says there there 700+ Japanese nationals currently in Wuhan
- More from Xinhua on coronavirus. 830 cases confirmed, a further 1000+ suspected
- NZ data - New Zealand credit card spending for December: - 0.9% m/m (prior +1.5%)
- Japan finance minister Aso says the country has no plans to issue a digital currency
- China's Global Times says 105 new cases of Wuhan coronavirus were confirmed in Hubei
- Forecast for the RBNZ to leave interest rates unchanged for all of 2020
- Waiting for the PBOC USD/CNY rate setting? Come back in a week (seriously).
- FX option expiries for Friday January 24 at the 10am NY cut
- Coronavirus city lock downs in China now number 7
- Japan January flash manufacturing PMI 49.3 (prior 48.4)
- More from Xinhua - coronavirus death toll up to 25 in China
- China State media say now 830 confirmed coronavirus cases
- US President Trump tweet - a hint of what he'll do on coronavirus?
- Westpac changes its RBA rate cut forecast - not expecting in February now
- BOJ December meeting minutes published now - full text
- US President Trump is to sign the new NAFTA (USMCA) next week - Wednesday
- UK government pursuing its first post-Brexit trade deal with Japan "at lightning speed"
- Japan headline inflation for December 0.8% y/y (vs 0.7% expected)
- Coronavirus: HK reports that Wuhan medical staff being infected at much faster pace than reported
- Coronavirus update (ICYMI) - more cities in China sealed off
- Forecasts for AUD/USD, improving but its still a sell
- Japan has confirmed its second case of coronavirus
- Australia preliminary PMIs for January: Manufacturing 49.1 (prior 49.2), Services 48.9 (prior 49.8)
- Trade ideas thread - Friday 24 January 2020
- NZ Q4 CPI 0.5% q/q (expected 0.4%) and 1.9% y/y (expected 1.8%)
Currencies were mainly stable here in the Asian time zone today. What ranges we had were small only.
NZD was a bit of an exception, it was marked higher on the release of Q4 CPI data, which came in slightly above the median estimate. NZD/USD popped above 0.6615 and its still above here as I update. The later release of the RBNZ's own inflation measure (see bullets above) has helped the kiwi $ consolidate toward the top end of it day's range.
The other data of note for the day was Japanese CPI which showed slightly higher than expected for the headline rate while core measures came in as expected. The sales tax hike back in October is a confounding factor for inflation rates at present, pushing it a little than higher than it otherwise would be.
The coronavirus in China worsened, more case confirmed, more deaths, wider-spread, and further city lockdowns (not all are extreme as is the sealing off of Wuhan).
Happy lunar new year to celebrating it!
