ForexLive Asia-Pacific news wrap: New Zealand unemployment rises

Author: Adam Button | Category: News

Forex news for Asia-Pacific trading on November 5, 2019:

Markets:

  • WTI crude down 32-cents to $56.92
  • Nikkei 225 up 0.1%
  • Yen leads, CAD lags
The main event of the day was the New Zealand jobs report. There weren't any huge surprises but the numbers were on the soft side and the odds of a cut next week moved to 60% from 54%. NZD/USD fell initially to 0.6370 from 0.6385 and later hit a low of 0.6365. Since then, the pair has stabilized near the lows of the day.

Oil came under pressure on the API build and that helped to lift USD/CAD by about 10 pips in the early going.

The newsflow continues to circle around the tariffs reduction theme in China-US talks and I expect some kind of resolution in the next couple days. The longer it goes on, the more you tend to think Trump will acquiesce but with the President nothing is ever guaranteed.

Forex news for Asia-Pacific trading on November 5, 2019:
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