Forex news for Asia-Pacific trade on December 11, 2020:
- FDA advisers votes 17-4 in favor of Pfizer vaccine. Approval imminent
- New Zealand Nov food prices -0.9% m/m vs -0.7% prior
- New Zealand BusinessNZ manufacturing PMI 55.3 vs 51.7 prior
- Mission creep hits the RBNZ as housing begins to enter mandate
- Trump has signed off on a series of Turkey sanctions for Russian missile purchase
- Time magazine names Biden and Harris its Person of the Year
Markets:
- Gold up $1 to $1837
- Nikke down 0.4%
- AUD leads, NZD lags
Newsflow was minimal but there was some decent price action for a 'quiet' Friday. The direction was a continuation of the Friday trade in New York as the dollar was sold once again and commodity currencies generally made headway.
The dollar selling picked up when Tokyo arrived and USD/JPY began to fall from 104.20 to 103.95. There was no clear catalyst but it looked like repatriation flows.
Otherwise it's all about positioning as we wait for signs on Brexit and in markets more generally.
Another spot worth keeping an eye on is Bitcoin. It dipped below $18000 for the third time in three days. It's now struggling to get back above.
