Forex news for Asia trading on Monday 15 November 2021
- AUD traders heads up - RBA Governor Lowe speaks on Tuesday
- China says stagflation signs are transitory
- More from BOJ Gov Kuroda - not overly concerned on the impact of Evergrande on Japan, globally
- An indicator of construction in China dropped 17% in October
- China economic activity data for October - Industrial production and retail sales beat
- China new home prices in October -0.2% m/m (prior 0%)
- China - PBOC issues a 1 tln yuan MLF for one year
- PBOC sets USD/ CNY reference rate for today at 6.3896 (vs. estimate at 6.3930)
- BOJ Gov Kuroda says Japan's economic recovery is being delayed somewhat
- SG highlight circa US$1875 on gold, target as high as US$1980 on a break
- RBNZ Chief Economist and MPC member Yuong Ha leaving the Bank in 2022
- Japan economy minister Yamagiwa on the contracting Q3 GDP data - optimistic for growth ahead
- UK private-sector employers expect to raise staff pay only 2.5% over the next year
- Japan Q3 preliminary GDP -0.8% q/q (expected -0.2%)
- RBNZ rate hikes on the way - sooner and higher
- Weekend - Japan's next economic stimulus package to exceed 40 tln yen
- Putin said Belarus cutting Russian natural gas flows to Europe would harm relations
- Goldman Sachs says Gold well placed for a 'boom', path to $2K (video interview)
- US Treas Sec Yellen says on inflation ... "It really depends on the pandemic."
- Trade ideas thread - Monday 15 November 2021
- New Zealand services PMI for October 44.6 (prior 46.9)
- Morgan Stanley say risks for GBP are skewed for higher - and what is needed to send it up
- US Senate leader Schumer urges Biden to release SPR to bring down gas prices
- Fed's Kashkari says inflation is causing pain now, but its transitory
- Monday morning open levels - indicative forex prices - 15 November 2021
Limited ranges prevailed across the board for major FX here in Asia on Monday to open the week. Within the small ranges the general theme was a touch of weakness for the US dollar. GBP, EUR, AUD, NZD, CAD are all better bid against the dollar while USD/JPY and USD/CHF are net very little changed indeed.
The data focus for the session was China's economic activity data for October with both industrial production and retail sales beating on estimates m/m even as the year-to-date figures dripped lower than they were for the YTD in September.
Also from China today was the news of an enormous 1tln yuan injection from the People's Bank of China via a medium-term lending facility (MLF). The 'however' to this was, though, that the injection was to offset 1tln in maturing facilities.
Japan report its flash reading for Q3 GDP today, showing a larger contraction than was expected.
Bitcoin has been on the move, as I post BTC/USD has traded back to above US$66K, its presently just a little under there.
