Forex news for Asia trading Thursday 9 July 2020
- Australian's warned they face a risk of arbitrary arrest in Hong Kong
- Sri Lankan central bank's Crocodile Dundee rate cut, lops off a full 1%
- Australian home loans data for May : -10.2% m/m (prior -5.0%)
- China inflation figures for June: CPI 2.5% y/y (expected 2.5%), PPI -3.0% y/y (expected -3.2%)
- China senior diplomat says China-US relations need a more positive message
- US new coronavirus cases up by more than 60,000
- China stock markets about to open. Ready for more euphoria?
- PBOC sets USD/ CNY reference rate for today at 7.0085 (vs. yesterday at 7.0207)
- FX option expiries for Thursday July 9 at the 10am NY cut
- Coronavirus - Another Australian state 'state of emergency'
- NZ July (preliminary) Business Confidence -29.8 (prior -34.4) & Activity Outlook -6.8 (prior -25.9)
- Bank of Japan Governor Kuroda says will not hesitate to add further easing if its needed
- Bank with a year end EUR/USD forecast of 1.12 says that might have to change
- NZD sitting sideways just under 0.6580 - here's what it'll taker to send it higher
- Japan Core Machinery Orders for May +1.7% m/m (expected -5.0%)
- UK data - RICS house price balance for June -15 vs. -32 in May
- Australian borders hardened even further - Queensland shuts out Victorians
- Trump has a 91% chance of winning the November 2020 election says Primary Model
- China has been buying USD as its become cheaper
- Tokyo reports 75 new coronavirus infections on Wednesday, down from 106 on Tuesday
- New Zealand deputy PM Peters to take medical leave
- New Zealand ANZ Truckometer (June) : Heavy Traffic index +14.5% m/m (prior 86.9%)
- US coronavirus - Texas current hospitalizations to record high of 9,610
- Australia set to offer visas to Hong Kong residents currently in Australia
- BoA note a 'death cross' for the USD
- Japan M4.7 earthquake felt in Tokyo
- Trade ideas thread - Thursday 9 July 2020
- United Airlines warns that 36,000 workers could be laid off in fall (from October 1)
- While California COVID-19 cases hit record daily highs, the positivity rate is exploding too
- Goldman Sachs warns of US election risk before, and after, November
Currencies found a little buying early in the session against the USD, testing toward or slightly above US traded highs. AUD and NZD both managed to pop their highs but these were quickly rejected. USD/JPY ticked down under 107.20 before its recovery.
Having said all this the ranges that ended up tracking out during the session here were only small.
News flow was limited during the session, the usual confirmation US coronavirus cases were surging and much more subdued gains locally here in the region, Tokyo new cases dropped back into double digits from a string of 100+ days. Date flow was focused on Chinese inflation data. The release was marred by an error from China's Statistics Bureau, which published the June 2019 numbers instead of June 2020. After much confusion the results were finally correct, but forex moves were minimal on the release.
Stocks in China are up again as I post, Shanghai Composite +0.6%.
Small moves only
