Forex news for Asia trading for Thursday 26 November 2020
- Recap of the Australian capex data for Q3 - weak but not worse
- Incoming US President Biden's top economic adviser will be one of these two.
- BoK Governor Lee says the recent gain in the won (KRW) is a bit fast
- Its a "market holiday" atmosphere until Monday, but Brexit headlines will continue
- Westpac on the new instructions to the RBNZ from the New Zealand government
- China state media warn Biden of tensions and turbulence re Taiwan clarity
- PBOC sets USD/ CNY reference rate for today at 6.5780 (vs. yesterday at 6.5749)
- FX option expiries for Thursday November 26 at the 10am NY cut
- South Korea plans to delay their crypto income tax rule
- AUD little changed after the lowest reported capex spend since 2007
- Australian Private Capital Expenditure (capex) for Q3: -3.0% q/q (expected -1.5%)
- South Korea daily confirmed coronavirus cases today above 500, for the first time since March
- China compliance with US Phase 1 trade deal is less than half after 10 months
- Credit Suisse still like gold higher, fundamentals remain supportive
- Exxon Mobil has lowered its outlook on oil prices for the next 7 years
- Trade ideas thread - Thursday 26 November 2020
- New Zealand trade balance for October NZD -501m (expected NZD -500m)
- Trump pardons his former National Security Adviser Michael Flynn
Asia FX traded in small ranges today ahead of the long US holiday coming up for Thanksgiving.
There was little news flow of importance for the major traded forex pairs although the Bank of Korea did announce its latest policy decision (on hold) and promised intervention on the won if FX markets behave in a herd-like manner, adding that the appreciation in the won (KRW) has been too fast.
For data it was the New Zealand trade balance and Australian capex figures. Neither had too much impact on the session.
The USD has traded just a little weaker; EUR, GBP are both up a touch while AUD and NZD are net little changed. Gold has moved a few dollars higher.
As I post BTC is getting sold off in a sharpish move down under 18k (hovering around there as I go to print).
Note that US markets are closed on Thursday.
