Forex news for Asia trading Tuesday 29 September 2020
- Singapore to hire 1,000 in jobs to support installation of 5G
- China Daily says US Sinophobic policies causing near-term losses to China, in the long run China could benefit
- EUR/USD looks to have more upside bias than downside
- Australian PM Morrison speaks on a new 'JobMaker' digital plan
- PBOC sets USD/ CNY reference rate for today at 6.8171 (vs. yesterday at 6.8252)
- FX option expiries for Tuesday September 29 at the 10am NY cut
- Marking another bleak COVID-19 milestone: JHU data puts the global death toll now over a million
- Bank of Japan 'Summary' - pace of recovery only moderate, must be vigilant
- Brexit UK press reports: Hopes of deal rise as EU says it is ready to work on legal agreement
- Tokyo inflation data for September: Headline CPI 0.2% y/y (vs, expected 0.1%)
- Australia weekly consumer confidence: 95.0 (prior 93.5)
- G20 energy ministers statement recognises market stabilisation actions
- EUR/CHF year-end target not far from current spot, but longer term to 1.15
- US assessing how quickly it can nuclear re-arm military planes and ships if treaty with Russia expires.
- ICYMI - the dates for the October meeting of China's leaders has been set. Next 5 year plan to be unveiled.
- Pelosi releases an updated coronavirus economic relief package proposal
- Pelosi and Mnuchin will meet to discuss more coronavirus aid at 6.30pm NY time (2230GMT)
- UK PM Boris Johnson set to announce measures to help the unemployed
- Canada coronavirus - Quebec's two big cities are stepping up lockdown restrictions
- Its a big Tuesday ahead for Federal Reserve speakers -
- Quick EUR/USD view - range ahead
- Trade ideas thread - Tuesday 29 September 2020
Currencies extended their gains in morning trade in Asia before retracing pretty much the entire move and, as I update, for most to be little net changed on the session.
News flow was barely existent and data flow non-impactful.
USD/JPY has had around a 20 point range, from highs circa 105.55 to lows just under 105.35. EUR/USD popped to just over 1.1680 and is back straddling 1.1670 or so.
The Australian, New Zealand dollars are a touch to the better, but off are off their session highs as I post. GBP got a bit of an extra boost from the positive Brexit trade talk headline earlier but it since come back to little changed.
A reminder of a couple of upcoming events - its a big day for Federal Reserve speakers Tuesday US time (see bullets above), also China's Golden Week holiday begins tomorrow for, well, a week. Despite the holiday beginning tomorrow we will get the China PMIs reported on Wednesday:
