Forex news for Asia trading Thursday 4 April 2019
- German Chancellor Angela Merkel to wade into Brexit - visiting Ireland today
- Another bank joins in calling for RBA rate cuts
- Trump will meet Chinese Vice Premier Liu He on Thursday
- PBOC sets USD/ CNY reference rate for today at 6.7055 (vs. yesterday at 6.7194)
- Italy’s ruling populists push ahead to seize central bank gold reserves
- EUR/CHF technical analysts says lighten up on short positions
- BOJ Gov Kuroda says Bank to persist with easing policy
- US press: Mueller's findings more troubling for Trump than indicated.
- Brexit - UK govt says disappointed that MPs chose to back the EU(withdrawal) (no. 5) bill
- Brexit - GBP edging higher towards its early (Wednesday) Europe time high
- More on May's talks with Labour on breaking Brexit deadlock likely to fail
- Brexit - UK House votes to require May to seek an extension beyond April 12, Lords to vote on it next
- UK House of Commons passes bill to block a no deal Brexit
- Meanwhile, back in the US- Congress committee requests Trump's tax returns from IRS
- Brexit - UK press on likely Cabinet dummy spits if May asks for long extension
- UK Brexit - parliament votes are in
- More from Fed's Kashkari (on how Fed would deal with recession)
- UK Times reports May's talks with Corbyn to break Brexit logjam likely to fail
- More Brexit - Hammond says there is a credible case for a confirmatory referendum
- Fed's Kashkari - doesn't believe US economy is overheating, or Fed needs to tap brakes
- More on the US setting a 2025 target for China to fulfill trade promises
- Brexit: UK fin Min Hammond says Brexit delay will inevitably be long
- Trade ideas thread - Thursday 4 April 2019
- Brexit: DUP UK MP Donaldson appears to hold out the prospect of his party supporting a customs union
- SGD traders - a preview of the MAs meeting
- Brexit - govt sources say talks with Labour were not as constructive as claimed
- The US is reported to have set year 2025 as the target for China to meet trade promises
Brexit news dominated the first part of the session here with late-night votes in the UK parliament. A vote passed the House of Commons, an important one. It directs the Prime Minister to seek an extension on the Article 50 date (currently at April 12). The vote passed with a majority of just one, 313 to 312. The bill will next be voted on in the House of Lords, while there is no time nor date set as yet it is likely to be Thursday. Stay tuned.
GBP moved only a few points higher on the news but has maintained its gains to be close to its session high, above 1.3170, as I update.
Apart from the UK business, news and data flow was light. Bank of Japan governor Kuroda spoke in parliament but did not indicate any switch of course from current policy. There were a few US political items (when isn't there?), with Trump's tax returns being sought by a Congressional committee.
AUD and NZD both traded up against the USD but have turned back from the highs they saw overnight. An announcement from the White House that Chinese Vice Premier Liu He would be meeting with Trump on Thursday pretty much marked the top for the two on the session and they've since given back ground, AUD more so.
EUR/USD had a small rally and is mid-range as I post. CAD slid a little against the USD.
China shares gained, as did Hong Kong's. The HangSeng Index moved above 30,000, a level last seen in June of last year, but has since dipped under. Japan's Nikkei cracked a one-month high.
Still to come:
Let's get the NFParty started …
