Forex news for Asia trading Friday 27 September 2019
- RBNZ Governor Orr spoke again today. not the same NZD impact as yesterday!
- All 4 big Australian banks calling for an RBA rate cut next week. Not everyone agrees.
- Heads up for a EUR/USD battle for 1.09
- Brexit - EU's Juncker says a catastrophe if UK leaves EU without a deal
- US data due Friday - preview of spending, PCE
- Recapping the 16 month low in Tokyo inflation data released earlier
- China Industrial profits for August -2.0% y/y (vs. prior +2.6%)
- PBOC sets USD/ CNY reference rate for today at 7.0731 (vs. yesterday at 7.0729)
- FX option expiries for Friday September 27 at the 10am NY cut
- Another short AUD/NZD view
- RBA meeting next week - quick preview
- Here's a view that Bitcoin is becoming a safe haven asset
- Tokyo inflation data for September. Headline CPI 0.4% y/y (vs expected 0.5%)
- More UK data: 39% of small companies think no-deal Brexit would have a negative impact on their business
- UK September consumer confidence -12 vs. -14 expected
- Fed's Barkin spoke earlier - 'roller coaster' of threats to economy - recap
- Brexit - Another UK car producer to halt production, lay off workers in November
- NZ data - ANZ consumer confidence for September drops to a 4 year low
- NZD more likely to be moved by US-China trade war developments than the RBNZ
- More from Fed's Barkin - reiterates his neutral view on monetary policy
- Brexit - UK press says Cabinet may be revolting (I think that's what they mean)
- North Korean state media says lack of progress with US cast doubt on future summit
- Trade recommendation to short AUD/NZD
- Fed's Barkin Q&A: Global events making the USD more attractive
- Fed's Barkin says recent FOMC cuts do not mean Fed in a prolonged easing period
- French finance minister urges Germany to boost fiscal spend, not to wait
Impactful news and data flow was absent during the Asian trading session here. We did get Tokyo-area CPI for September out of Japan but a disappointment on this is hardly unusual. From China we got industrial profits, these slipped back into negative after the blip higher in the previous month.
More on the data releases in the bullets above.
Yen has net added a few points on the session. During the Tokyo morning yen crosses slipped a little. There was some information value in the euro losing ground. It dropped under 1.0910 against the USD but was bought back hurriedly; 1.09 knock out options said to be present with associated defence in play. This will be something to watch as European and UK markets become more active. On the other side you have USD demand going into month and quarter end.
After early softness AUD and NZD have edged a tiny bit better - small ranges for both. Cable, too, up very small.
