Forex news for Asia trading Tuesday 31 December 2019
News flow during the session was nearly non-existent but on the data front we did get the China PMIs (official data) for December. The manufacturing PMI for the month beat expectations and came in at the same it did in November. The services PMI did, however, slip somewhat for a miss on expectations. As usual, the most focus was on the manufacturing number and as a further positive, new export orders moved into expansion for the first time in more than 18 months.
The USD again lost a little ground during the session against majors.
Gold popped above 1516USD, continuing to add to gains after it broke a tech level higher last week.
- PBOC sets USD/ CNY mid-point today at 6.9762 (vs. yesterday at 6.9805)
- Notable FX option expiries for Tuesday 31 December 2019 at the 10am NY cut - none
- China Dec. PMIs: Manufacturing 50.2 (vs. expected 50.1) & Services 53.5 (expected 54.2)
- UK fin min Javid says the UK's 'national living wage' to be increased from April 2020
- ICYMI - EU’s trade commissioner says UK PM Johnson will not exit the Brexit transition period by the end of 2020
- Trade ideas thread - Tuesday 31 December 2019
- Reports that Carlos Ghosn (ex Nissan boss) has violated bail, skipped the country
