Forex news for Asia-Pacific trading on October 24, 2018:


  • Shanghai Comp -1.4%
  • Nikkei 225 -3.1%
  • Gold up $3.60 to $1237
  • US 10-year yields up 0.5 bps to 3.11%
  • AUD leads, NZD lags

The New Zealand dollar was slow to react to the miss on September trade but eventually kicked down to 0.6503 from 0.6520 before bids at the figure held the line. From there it rebounded in line with a slightly improving risk tone back to 0.6520.

AUD/USD did a better job of capturing the slow improvement in sentiment. Bids at 0.7058 helped form a minor bottom at yesterday's lows and that sparked a rise to 0.7081, up 21 pips on the day.

USD/CAD benefitted from the better tone too in a slow slide to 1.3020 from 1.3050.

USD/JPY was hurt in the early going in the continuing 'risk off' trade following the steep decline in US stocks and the poor open in the Nikkei. The pair fell to 111.82 but didn't make a serious push towards the October low of 111.63 and then bounced to 112.09.

EUR/USD climbed back above the 1.1400 handle in a 20 pips rise ahead of the ECB later. How could Draghi be anything but his usual upbeat self?

If there's a red flag it's in cable as the bounce has been very slight from the US lows as it rises to 1.2888, barely 20 pips from the 7-week low.