Forex news for Asia trading Tuesday 3 September 2019

The headline is today's story indeed, a stronger US dollar almost from the get-go. EUR/USD dropped under its overnight lows, as did AUD/USD and NZD/USD (there was some news on AUD, I'll come back to that). Cable slid lower, while USD/CHF continued its climb back toward parity.

SForex news for Asia trading Tuesday 3 September 2019

Yen and CAD put up a bit more of a struggle, with USD/CAD higher but not to its overnight highs. Pretty much ditto for the yen, USD/JPY managed above 106.35 but as I update has stalled there.

From Australia today we got some positive news for Q2 GDP (data due on Wednesday local time), with surging exports (oh, and a not quite so nice result for imports suffering, perhaps due to a softer economy) tipping the Balance of Payment Current Account to surplus for the first time in nearly ... wait for it ... 45 years. Exports are a continuing bright spot for the Australian economy. At the same time retail sales data for July were published, a first look at Q3 for this indicator. These showed a big miss. AUD/USD popped a little on the data but soon subsided again to fresh lows and well under 0.67 as I update. NZD/USD followed a similar pattern to the AUD.

Don't forget folks, RBA decision coming up at 0430GMT and then soon after that it'll be over to the UK for today's dose of Brexit.

Still to come: