Forex news for Asia trading Thursday 24 October 2019
- Goldman Sachs on Brexit - expect passage of Brexit deal after a 3-4 week extension
- US VP Pence to speak on China Thursday 24 October 2019
- Westpac reiterate two-month AUD target still 0.6700
- More on the Australian debt sale that didn't get enough bids
- Expectations for anything new from the ECB policy meeting are low - preview
- Moody's on Japan - A1 rating affirmed, stable outlook maintained
- PBOC sets USD/ CNY reference rate for today at 7.0727 (vs. yesterday at 7.0752)
- FX option expiries for Thursday October 24 at the 10am NY cut
- Head of Singapore's central bank says slow down to base out toward year end
- Japan preliminary PMIs for October Manufacturing 48.5 vs. prior 48.9
- Australia failed to sell all t-notes on offer today. The good news is that its not a default.
- Factors lining up bullish for EUR/USD
- South Korean economic growth for Q3 comes in slightly under forecast
- Some UK data - industry survey shows more pay rises to come next year
- Brexit - UK Labour Party spokesman says 2nd referendum is the party's 'bottom line'
- Brexit - UK Times reports the UK PM Johnson is poised to call an election
- Australia preliminary PMIs for October: Manufacturing 50.1 (prior 50.3) Services 50.8 (prior 52.4)
- ECB preview: Draghi final meeting, expected to be uneventful - where to for EUR
- Banco Central de Chile cuts its benchmark rate to 1.75% from 2%
- Australia preliminary PMIs for October: Manufacturing (prior 50.3) Services (prior 52.4)
- North Korea says dictator Kim Jong Un and US President Trump continue to have close relations and trust.
- Brexit update - opposition and government talks set to continue
- Trade ideas thread - Thursday 24 October 2019
- UK's Javid says only a no-deal Brexit will prevent delivering the budget on November 6
A session of minor rate FX adjustments in Asia today. The European Central Bank monetary policy meeting announcement and President Draghi's final press conference are due later and that seemed reason enough for Asia to pretty much sit on hands today. Oh, and later (1500GMT) US Vice President Pence gives a speech on China, there may be some headlines to listen out for on that.
Fresh news and data flow here in Asia was non-impactful. USD/JPY has dribbled a few points to the downside while EUR/USD is up about 10 points. Cable managed a pop above its late-US time high but has not sustained the move (but has not dropped back appreciably either).
NZD/USD has fallen away a little from the 0.6420/25 area. AUD/USD is towards the bottom end of its small 0.6845/0.6855 (give or take) session range. You may hear of a government note sale failing to attract enough bids (see bullets above) but please do not be concerned, its just a maturity issue (the notes, not the traders). The longer dated one was oversubscribed by a factor of about 5, so disregard any alarmist headlines (Not a default!) you might see.
The People's Bank of China revalued the onshore yuan a bit at the daily central rate setting today, there has been some two-way movement added to this by the bank ever since the trade talks concluded.
