Forex news for Asia trading Thursday 25 April 2019
- BOJ announce no change to monetary policy (as expected)
- McAfee vows to unmask crypto’s Satoshi Nakamoto, then backs off
- PBOC to set up lower RRR for small, medium banks
- Singapore government, central bank, moving to expand FX trading
- Forex intervention remarks from South Korea as the KRW drops
- PBOC sets USD/ CNY central rate at 6.7307 (vs. yesterday at 6.7205)
- FX option expiries on Thursday 25 April 2019
- Moody's says increased risk aversion is impacting weaker Chinese companies
- Brexit - UK PM May to bring vote on Withdrawal Agreement in the coming days
- EUR traders heads up - Friday could be a big day - Italy credit rating review
- South Korea GDP growth in Q1 2019 was the worst since the GFC
- Latest NIESR forecast is for no Bank of England rate hike until August … 2020
- FT says Mike Pence is trying to "save new Trump trade deal" ( NAFTA)
- China press report comments from Premier Li - economy still facing downward pressure
- Topside target for a long USD/CAD trade (and a stop loss too)
- The EUR green shoots … that continue disappointing (EUR/USD downside target)
- Australia - Will a looming jobs market slowdown prompt the RBA to cut rates in May?
- ICYMI – AUD drop after CPI, forecasts for an imminent RBA rate cut piling in.
- ICYMI - New Zealand and Australia markets closed today
- Trade ideas thread - Thursday 25 April 2019
It was a session of waiting on the Bank of Japan policy announcement. While there were no expectations for any change in policy the 'outlook update' was eagerly awaited.
While waiting forex movement was limited indeed with a nearly bare data release calendar not helping to provide any potential catalysts. News flow was sparse, with nothing of much impact at all. South Korean Q1 economic growth was announced, coming in at a drop q/q and its worst since the GFC.
Australian and New Zealand markets were shut for a holiday (ANZAC Day).
EUR, GBP, AUD, NZD and CAD were all little changed against the USD, minor strength for all was pretty much it, each up a few tics against the big dollar.
Ahead of the BOJ USD/JPY lost 30 odd points for the session.
The Bank of Japan announcement was of no change to policy settings, but of note the Bank is considering a scheme to lend ETFs it holds to investors. Only considering at this stage. The Bank adjusted its forward guidance (lower for longer in a nutshell).
As part of today's announcement was the Bank's updated 'outlook'. Expectations for economic growth and projections for CPI saw some downgrades.
USD/JPY, after dropping 30 points or so ahead of the meeting ,was barely changed after (as I post).
BOJ Gov Kuroda speaks (news conference) at 0630GMT.
