Forex news for Asia trading Thursday 30 July 2020
- More selling of the USD still to come
- French oil giant Total oi price outlook is for a rebound in price … from 2025
- Australia Building Approvals for June -4.9% m/m
- More info on that Russian COVID-19 vaccine: 30 million doses in Russia by end of year and 170 million worldwide
- PBOC sets USD/ CNY reference rate for today at 6.9902 (vs. yesterday at 6.9969)
- FX option expiries for Thursday July 30 at the 10am NY cut
- New Zealand July (final) Business Confidence: -31.8 (vs. prior -34.4) Activity Outlook: -8.9 (prior -25.9)
- China reports 105 new coronavirus cases, was 101 the previous day
- Japan earthquake off Chiba prefecture
- Australian Treasury's head says economy to contract by 7%
- Coronavirus - Australian state of Victoria likely to introduce further lock down measures today
- Japan Retail sales for June: +13.1% m/m (expected 8.0%)
- UK expands coronavirus loan scheme for small businesses
- Trump says moved some troops out of Germany because Germany 'very delinquent' with NATO fees
- Australia coronavirus new cases rumoured to be around 720+ today
- Recap of the FOMC, "as expected" ... but US Congress fiscal policy remains an unknown
- UK H1 2020 car production fell to its lowest since 1954
- Fed supportive, more gains for gold ahead
- New Zealand Building Permits for June: +0.5% m/m (prior +35.6%)
- McConnell says hopes to reach a deal on unemployment benefits by Friday
- White House official says working to encourage US firms to move production facilities out of Asia and into the US
- Pelosi to implement a mandatory mask rule on the floor of the US House of Reps
- GBP to fall due to “stuck in the mud” Brexit negotiations.
- UK Government to announce people with coronavirus symptoms to isolate
- Trade ideas thread - Thursday 30 July 2020
- White House Meadows says nowhere close to a deal on new stimulus measures
- US near decision to authorize emergency use of antibody-rich blood plasma from recovered Covid-19 patients
- US leads the world in COVID19 deaths, passing 150,000 dead
- Ex-SAFE official strongly advises Chinese banks to switch from SWIFT as US sanctions loom
Post-FOMC day trade here in Asia saw small major FX ranges but with a bias for a little US dollar buying. The dollar ticked up a few points pretty much across the board with EUR/USD down 20 or so points and USD/JPY up circa 25 points.
We had a few news items out of the US afternoon and into the early evening on the new stimulus measures negotiations with not much to be cheerful about for resolution except one comment from Senate Republican leader McConnell saying he hoped for an agreement on unemployment benefits by Friday. That'd be a positive, we'll see what pans out.
News and flow during the timezone here did not precipitate much in the way of moves.
Gold was fairly steady:
