Forex news for Asia trading Tuesday 9 April 2019
- Australia housing finance approvals data - response
- China - sales of new homes in bellwether megacity +64% in March
- Goldman Sachs hikes oil price forecast
- Moody's on the Australian economy, housing and the 'wealth effect'
- Australia February Home loans: +0.8% m/m(vs. expected 0.5%)
- PBOC sets USD/ CNY reference rate for today at 6.7142 (vs. yesterday at 6.7201)
- Dates set for Japanese trade talks with the US (April 15 - 18)
- Japan will extend its sanctions against North Korea for two years
- More on US bans 16 Saudis from US for role in Khashoggi murder
- More on the US threats of further tariffs on the EU
- More on the big population shift in China likely to boost the property market there
- Australia data - weekly consumer confidence down 1.3%
- UK consumer data - retail sales down, but consumer spending up
- The US Treasury is proposing tariffs on EU products
- Japan analyst says “Chances are 50-50 that Abe may delay the sales tax hike again”
- New Zealand data - ANZ Truckometer for March: -2.0% m/m (prior +0.2%)
- Brexit - Parliament bill to force delay request, will get final approval Monday or Tuesday
- UK government ministers and Labor counterparts to resume Brexit talks Tuesday
- Where to for the yuan? Analysts offer up diverging views
- Trade ideas thread - Tuesday 9 April 2019
- S&P gains for the 8th day in a row
USD/JPY, and yen crosses, fell on the session here. USD/JPY from highs above 111.55 on a short-lived pop to lows under 111.30 briefly. News flow of impact (albeit in a small range) included further US trade tariff floated (this time on the EU), Japan extending sanctionson North Korea for another two years, a Japanese delegation to visit the US for trade talks (April 15-18).
The AUD did little today, the data point of note was housing finance, which showed a small improvement m/m in the context of much lower y/y performance.
Fresh news on Brexit was absent. We got confirmation that the parliament will require PM May request an extension - we knew this, but legal steps were completed. Confirmation also that the Cons/Labour talks will continue Tuesday. GBP has made a small gain for the session, from circa 1.3060 it got briefly above 1.3080.
EUR/USD, USD/CAD, NZD/USD are all very little changed. Oil hit a five month high early but has since backed off a little.Regional equities were mixed.
Still to come:
- Forex options expiries today, Tuesday 9 April 2019, 10am NY cut
- AUD traders heads up - RBA dep. gov. Debelle speaking tomorrow
- The ECB meet this week - preview
- TD preview the ECB policy meeting, point out the bearish risk for the EUR
- SGD traders - heads up for the MAS meeting this week - preview
- Financing data due from China this week
