Forex news for Asia trading for Tuesday 24 November 2020
- RBNZ's Gov Orr says the Bank already gives consideration to asset prices
- Barclays 2021 oil price forecasts for Brent, WTI ($53 and $50 /bbl respectively)
- RBA's Debelle comments on the AUD - has come down by a noticeable amount
- More from RBA's Debelle: Not convinced negative rates would work
- Morgan Stanley on the US dollar - lower in 2021
- RBA Dep Gov Debelle: Does not expect a rate hike for 3 year
- Hong Kong to further tighten coronavirus restrictions - closing more indoor venues
- RBA Deputy Governor Guy Debelle's speech - "Monetary Policy in 2020" - live link
- RBNZ says it will engage constructively on the government proposal it adds a house price remit
- More from Bank of Japan Governor Kuroda
- Jamie Dinan to shut down hedge fund business, focus on better-performing units
- PBOC sets USD/ CNY reference rate for today at 6.5809 (vs. yesterday at 6.5719)
- FX option expiries for Tuesday November 24 at the 10am NY cut
- NZD is rocketing on the RBNZ house price news
- Bank of Japan Governor Kuroda says pace of pick up in economy is only moderate
- NZ government is considering adding house prices to the RBNZ mandate
- Australia preliminary trade data for October, export +6%m/m, imports +8%
- US NY Fed President Williams will available for questions on Tuesday
- The UK's new approach to isolating arrivals from high-risk coronavirus countries
- Iran to withdraw 200m euro from its sovereign wealth fund
- Trump tweets the closest to a concession he is likely to admit
- US GSA has informed President-elect Biden it is ready to commence the transition
- UK is considering banning Huawei
- The world’s largest asset manager has upgraded US equities to “overweight”
- Australia weekly consumer confidence: 104.5 (prior 106.6)
- Fed Evans reiterates the Federal Reserve willing to do more
- Trade ideas thread - Tuesday 24 November 2020
- California coronavirus update, 14-day MA of positivity rate hits 5.5%
- Michigan will certify the US election vote - another win for President-elect Biden
In early Asian trade the US authority (the General Services Administration) responsible for beginning the formal transition to the new Biden presidency finally acknowledged his win and set in motion the initial protocols. Almost immediately after Trump tweeted his recommendation the GSA do just that. The news added to the better sentiment evident on Monday US time from improving vaccine developments and gave further support to risk FX and US equity index futures (trading 'overnight' on Globex).
Once again the kiwi $ has been best on ground amongst the majors. The NZD was spurred further by the NZ government saying it wanted the RBNZ to add a house-price 'remit' (ie to stop prices rising so rapidly). It would be remiss to mention worst on ground alongside ... gold dropped further , towards $US1820.
AUD was dragged up a little with the NZD (AUD/NZD sellers ensured the AUD rise was not as extended). GBP, EUR, yen, CHF have all done very little against the USD while CAD has gained alongside oil.
Trump's tweets, this may be the closest he gets to a concession?
