Forex news for Asia trading for Monday 25 January 2021
- Bank of England Governor Bailey speaking Monday
- Australian inflation data for Q4 2020 is due this week - preview
- China is building border walls with Vietnam and Myanmar
- (Not FX) There is a Janet Yellen rap song
- Weekend - A US aircraft carrier group entered the South China Sea on Sunday
- Heads up for US President Biden to speak Monday at 3.45pm Washington time
- PBOC sets USD/ CNY reference rate for today at 6.4819 (vs. Friday at 6.4617)
- FX option expiries for Monday January 25 at the 10am NY cut
- ICYMI - California probing the death of a person who received the COVID-19 vaccine hours earlier
- A North Korean diplomat has defected to South Korea
- Australia preliminary trade balance for December. Exports +16% m/m, imports -9%.
- New Zealand reports a case of the South African coronavirus strain
- China authorises coastguard to fire on foreign vessels in East China and South China Seas
- China's Global Times says large-scale tests of digital currency planned for this year
- Bitcoin unlikely to replace gold
- Weekend - Iraq plans to cut oil output in January and February
- Australia has given provisional approval to Pfizer's COVID-19 vaccine
- China's yuan - "nowhere for it to go but down" & intervention coming
- Trade ideas thread - Monday 25 January 2021
- Saudi sovereign wealth fund to double assets in the next five years to $1.07 tln
- US President Biden to announce an entry ban covering non-US travellers from the UK (and more)
- Weekend coronavirus news - France's Macron could announce the country’s 3rd lockdown on Wednesday
- Monday morning open levels - indicative forex prices - 25 January 2021
- The Gamestop rip crystalizes a new era in the stock market. Six lessons
It was a subdued opening to the forex week in Asian Monday trade with some net US dollar weakness but in ranges that have been very small.
NZD/USD is (almost) leading the pack. There was news out of NZ earlier that the virulent South African strain of the coronavirus has been found in a case in the country, the first case in the community for many months. AUD/USD traded higher alongside, Australia's medical regulator gave provisional approval for the Pfizer vaccine today; roll-out is still pencilled in for late February.
News flow was light, data flow barely existent. What data we did get showed (preliminary) export number for Australia in December surging 16% on the month (up 3% y/y) while imports dropped m/m.
Hong Kong stocks had a solid rise again (the Hang Seng is +1.98% as I post), underpinned by strong southbound inflows from the mainland and the lifting of the lockdown in parts of Kowloon.
For those interested the US SuperBowl in early February will be the Tampa Bay Buccaneers (stalwart q/b Tom Brady leading) vs. Kansas City Chiefs (rising star Patrick Mahomes q/b).
