Forex news for Asia trading Friday 25 January 2019
- Here's a view on gold: end-2019 forecast $1,350 and on silver: $17.50 … ''safe havens'
- Singapore flash crash not a fat finger, not a malfunctioning computer
- AUD - RBA's first meeting of the year is coming up, Lowe speech, the SoMP
- Australian inflation data due next week - preview of Q4 2018 CPI
- Goldman Sachs on oil - "significant upside" ahead
- PBOC sets USD/ CNY central rate at 6.7941 (vs. yesterday at 6.7802)
- Japan (Tokyo) inflation data earlier - recap
- Kudlow says US - China talks must deal with IP and tech issues
- Brexit - more on the DUP support for May's Plan B press report
- Brexit - DUP decides privately to support May's deal next week
- Bing (Microsoft search engine) is back in China, block was a "tech error"
- Tokyo area inflation data: headline CPI (Jan): 0.4% y/y (expected 0.2%)
- Citi downgrades US stocks to neutral
- Here's a 0.60 forecast for the AUD/USD (and why)
- US has ordered non-emergency government employees out of Venezuela
- Pelosi says No to wall down payment
- CNN reports Trump is preparing draft emergency order on border
- Trade ideas thread - Friday 25 January 2019
- US President Trump says if US can make a deal with China it would be great
- Another bill to reopen US government set for vote later Thursday
GBP popped as early trade in Tokyo got underway, kicked higher on the back of news that the DUP has privately decided to back May's Plan B next week. There are conditions, of course, but the headline was enough to shake out some shorts. More in the bullets above on conditions and the likely EU reaction (spoiler: 'No'.)
Cable had a bit of a retrace (to around 1.3100) but as I post has come back to its session high. Let's see what Europe and UK trade do with it.
Asia rewarded with other movements also today, CAD, AUD, NZD all traded higher with no obvious immediate catalyst. USD weakness, sure, but EUR was not much of a beneficiary.
USD/JPY, of course, goes its own way and traded higher also, making yen crosses strong performers on the session. We had some data from Japan today, Tokyo area CPI (nationwide CPI for the same month follows 3 weeks later). The numbers were a touch surprising to the topside! We don't often get that on Japanese inflation. Which argues, if anything, for a slightly stronger yen. Naturally, it didn't do this :-).
Otherwise, news flow was light indeed. A few odds and ends on the US government shut down negotiations. Plenty of noise, little apparent progress.
Still to come:
