Forex news for Asia trading for Friday 4 December 2020
- Taiwan looks to be on track for administering COVID-19 vaccination by end Q2 of 2021
- Pfizer COVID-19 vaccine approval in the US expected next week
- China to start construction of 10,000km of intercity urban railway
- US President elect Biden says again that China must play by international rules
- Biden says coronavirus economic aid bill should be passed, he will ask for more once in office
- US Senate leader McConnell said to be favouring smaller stimulus package (bit of chatter)
- Oil on the move (higher)
- What will the weekend bring for Brexit talks? A UK - France showdown?
- Morgan Stanley says US stocks overbought and risks a correction
- PBOC sets USD/ CNY reference rate for today at 6.5507 (vs. yesterday at 6.5592)
- FX option expiries for Friday December 4 at the 10am NY cut
- USD losing further ground against Asian currencies, TWD to its strongest since 1997
- The US has slashed visas for members of China's Communist Party from 10 years to 1 month
- Australia retail sales for October +1.4% m/m (prior -1.1%)
- White House remains confident that Judy Shelton will be confirmed to the Federal Reserve
- Japan's COVID-19 panel is calling for limits on travel
- US in talks with Huawei finance chief Meng Wanzhou about resolving criminal charges
- An ANZ 'top trade' for 2021 is for a stronger yuan - 3 key drivers of higher Asian currencies
- Goldman Sachs US Nonfarm Payroll preview
- China is likely to impose additional restrictions on Australian agricultural products
- US President-elect Biden says has asked Fauci to stay on on his administration
- Moderna is bullish on COVID-19 vaccine availability
- Irish airline Ryanair orders 75 Boeing 737 Max jets
- ANZ ramp up their forecast for NZD/USD in 2021
- New Zealand data: Q3 construction work done +34.6% q/q (expected + 31.5%)
- US confirms it has added 4 further Chinese companies to 'blacklist'
- Trade ideas thread - Friday 4 December 2020
- Paul Tudor Jones - there will be an economic "supersonic boom" next year
AUD/USD and NZD/USD have lost a few points over the course of the session here in Asia on Friday while other majors are relatively flat.
There was news about but little of it was of direct relevance to the day's small currency moves. There was an (as yet unconfirmed, nor sourced) rumour about that US Senate leader McConnell is looking for a smaller economic stimulus package. This did seem to be a weight on AUD and NZD, and also US overnight equity index future trade, for a small period of time at least. Also of interest was the US cutting visa time for visiting members of China's Communist Party (and their families) from 10 years to ... just one month! (News from mid-week but back again today). US-China tensions are not going away any time soon.
It really was a session of waiting, for US NFP, any Brexit news that may come on Friday from the European morning, and anything else, such as vaccine headlines.
For currencies, moves, as I have said, have been small only,
