Forex news for Asia trading Monday 8 April 2019
- Heads up, the ECB meeting is on Wednesday this week (not the usual Thursday) - preview
- ANZ on China - policy stimulus gains traction
- China will relax residency curbs in some cities this year
- Australia's largest fund manager sees share markets higher through this year
- Citigroup sees the Chinese yuan appreciating in short-term (quickie video)
- Goldman Sachs have revised their probability of a no deal Brexit
- IMF says Australia's housing market contraction leaving economy in a "delicate situation"
- Australia - ANZ's survey of job vacancies, for March: -1.7% m/m (prior -0.8%)
- US Sec State Pompeo says US requires Libyan National Army to stop its offensive on Tripoli
- PBOC sets USD/ CNY reference rate for today at 6.7201 (vs. prior at 6.7055)
- FX option expiries for the 10am NY cut on Monday 8 April 2019
- Standard Chartered says the market wants to sell USD, but is too afraid to
- Ahead of the Singapore monetary policy statement - fin min upbeat on SE Asia
- Guy jumps retired wrestler in room full of his wrestling and UFC friends. LOL. Gets the **** beaten out of him.
- Kuroda: BOJ will keep interest rates at current very low levels for an extended period
- Oil trade gets underway for the week with Brent, WTI near their highest since Nov. 2018
- EU and Chinese leaders meet on Tuesday - trade talks tops of the agenda
- Japan February BoP Current Account Balance: ¥ 2676.8bn (expected ¥ 2633.5bn)
- Weekend comments from Trump economic adviser Kudlow on US China trade talks
- AUD traders - heads up for May election, update to polls
- FT reports that French President Macron wants tough conditions on Brexit delay
- Trade ideas thread - Monday 8 April 2019
- Analyst on the US NFP on Friday - says it calms both upside and downside fears
- US President Trump confirms Sec of Homeland Security has resigned
- IMF report on (global) "Downside Risks to House Prices" - Canada risks have increased
- Weekend data on surging Chinese gold reserves - March buying of 11.2 tons of gold
- AUD traders heads up - election looks set for May 18, government behind in the polls
- Early NZ data, card spending higher y/y in March and for Q1 2019
- Brexit weekend update (remember folks, April 12 is leave date at present)
- Heads up for EUR traders - Italy expected to raise its 2020 budget deficit goal this week
- Weekend data from China. FX reserves up again, 5th straight month, to a 7 month high
- Good morning Monday 8 April 2019! Early FX price guide
- Trading 101: The inversion of the US Treasury yield curve
- Haftar's forces in Libya to continue offensive to Tripoli
- State media: China and US made 'new progress' in talks
Yen gained as Tokyo began to become active for the week, weighed on by the usual factors such as falls for the Nikkei, yen cross-sellers, trade tensions still about. Added to the mix today was news out Libya on civil conflict intensifying, which is a factor supporting oil prices. Despite this, yen gained.
Adam had the weekend news (see bullets above) and further came today with the US threatening to wade in: US Secretary of State warned the rebels to halt their offensive (again, see bullets above).
USD/JPY dropped from early levels circa 111.70 to under 111.40, and its not far from those lows as I update.
We had the regular round of weekend Brexit headlines, but nothing indicating much progress has been made from where we left off on Friday. The coming Friday (April 12) is the current exit date, but a UK request is in for a June 30 extension - apparently, the dog ate their homework - the EU will consider the request at a leaders summit on Wednesday (April 10).
News and data flow elsewhere were light and of little market impact.
For Australian dollar traders, May 18 is firming up as the favourite as the date for the upcoming Federal election, though its still not confirmed.
