Forex news for Asia trading Tuesday 26 March 2019
Brexit voting etc here:
- Brexit - UK MP speculates on likelihood of a general election during the (UK) summer
- Brexit Amendment A passed - this is the big one and it has big implications
- Brexit - UK Labour leader Corbyn says parliament should consider confirmatory referendum
- Brexit ministry not happy with the voting so far ....
- More Brexit voting results still to come - recap so far
- Brexit - Amendment F does not pass, fails
- Brexit voting - House votes to force alternatives to May's Brexit plan
- Brexit - Amendment A has passed
- Brexit - BBC reports UK Junior Business Minister Harrington has resigned
- UK Brexit minister says govmt will return to parliament if deal is not approved this week
- Brexit - Goldman Sachs 'continue to see risks to the Pound as skewed to the upside'
Other:
- Morgan Stanley with more on gold - central banks buying supporting it
- Fed's Rosengren spoke Tuesday - recap
- Pentagon has authorized the transfer of $1 billion for US-Mexico border wall
- Standard Chartered says fears over growth slowdown in China, trade wars, are falling
- Goldman Sachs on what it'll take to break the euro higher
- Japan's FSA urging financial markets to get ready for the 10-day holiday coming up
- Fed's Rosengren again: Dot plot is not a promise of policy direction
- PBOC sets USD/ CNY central rate at 6.7042 (vs. yesterday at 6.7098)
- More from Fed’s Rosengren - US Q1growth likely to pretty weak
- Japan finance minister Aso: I never said the 2% inflation target be scrapped!
- Fed's Rosengren - balance sheet likely to grow
- Morgan Stanley says it has turned more neutral on gold
- Japan economy minister Motegi's weak response to falling stock prices
- BOJ Summary of Opinions … must maintain current policy easing
- Samsung warns that its Q1 results will be under market expectations
- China's State Admin of FX wants to make the yuan reference rate more transparent, rule-based
- Australia weekly consumer confidence: 111.8 (prior 111.9)
- Reports euro-area to withhold cash for Greece over insolvency law
- New Zealand trade balance for February: NZD +12m (expected -200m)
- More RBA's Ellis - RBA does not move in lockstep with other central banks on rates
- RBA's Ellis says the labour market in Australia has 'unambiguously' improved
- Canada's Freeland says don’t want to approve new NAFTA until Trump removes tariffs
- Trade ideas thread - Tuesday 26 March 2019
- RBC says the inverted yield curve does not mean what you think it means
Early news and data flow came from Australia and New Zealand with an RBA speaker and the NZ trade balance for February. More in the bullets above. AUD and NZD traded a little stronger for the session but NZD has reversed all its (admittedly small) gain and the AUD nearly so.
And so to the bigger news, the UK parliamentary votes on Brexit matters (what else?). Parliament voted to open up consideration of other options for Brexit, not just the current government plan. Its difficult to foresee with much certainty how this plays out, Labour leader Corbyn was reportedly already putting forward consideration for another referendum. Plenty more in the bullets above.
Like AUD and NZD, GBP had a bit of an up move but has since given it back to be barely changed for the session here.
The yen weakened a little during the Tokyo moning, USD/JPY gaining from around 110.00 to above 110.20 briefly before it, too, gave it all back and is now more or less flat for the session. EUR, CHF have done little. USD/CAD is down a few points only.
Japanese stocks bounced today, but beware ex-dividend moves coming up later this session.Chinese stocks were down.
Nikkei chart:
Still to come:
