Forex news for Asia trading Monday 25 November 2019
- Bitcoin's sharp drop in price over the weekend (and continuing to today) is still about China
- "Crypto queen" scammer steals 15bn GBP from the gullible
- Support and resistance levels ahead for EUR/USD
- More on AUD/USD fair value - this time at 0.70
- Where to for gold? Here's a projection to 1600 next year.
- Weekend (and into Monday) bitcoin update (down date is a better description)
- Japan's PM Abe working for a State visit from China's President Xi in early 2020
- AUD/USD fair value update via Westpac
- PBOC sets USD/ CNY reference rate for today at 7.0397 (vs. yesterday at 7.0306)
- FX option expiries for Monday November 25 at the 10am NY cut
- Weekend China press: China needs to prepare for zero interest rates
- (We haven't even got 1 yet, but) "Phase two” US-China trade deal looking less likely say US & China officials
- Weekend - UK PM Johnson promised a pre-Christmas Brexit vote if he wins the election
- Hong Kong local elections on Sunday - huge gains for pro-democracy candidates
- Goldman Sachs recommend short EUR/GBP citing progress towards Brexit resolution (and more)
- Trade ideas thread - Monday 25 November 2019
- ECB chief economist Lane weekend comments - policies are “in good shape”
- Here's a UK election poll forecasting a near 50 seat majority for BJ's Conservative Party
- Economic calendar due from Asia today - Monday 25 November 2019
- Trump is increasingly working from his residence, in part to avoid leaks
- Monday morning open - indicative FX prices 25 November 2019
- China will raise penalties for IP theft
- When the market is focused elsewhere, bet on the trend extending
- Latest UK election poll has Conservatives 12 points ahead
- Top Chinese diplomat says US has become world's biggest destabilizing factor
Weekend news that China is to raise penalties for intellectual property theft boosted risk sentiment as the week opened. It was taken as a sign that China was offering an olive branch to the US on trade-related issues. How this plays out remains to be seen of course, but for today the headlines ruled.
AUD was a beneficiary, while yen (and CHF) suffered. The currencies have only moved in a small range but for AUD/JPY the move was a little bigger (maths). NZD was a gainer also.
GBP is higher to open the week also (compared to its late Friday levels), with indications from polling that UK PM Boris Johnson's party may achieve a majority at the upcoming election, Again, we'll see how that plays out and also again, the headline ruled the market response during the time zone here.
USD/CAD, EUR/USD have net done very little indeed. Gold is down tiny.
Bitcoin continued lower over the weekend and again today, see bullets above for more on the crypto.
The People's Bank of China set the onshore yuan weaker again today at the daily reference rate.
AUD traders take note of what's coming up Tuesday during Asia:
