Forex news for Asia trading Monday 29 April 2019
- Westpac says the case 'indisputable' for an RBA rate cut ... but not in May
- Economists have boosted their China economic growth forecasts for 2019
- Here's what you missed in Asian markets while you were watching GOT
- Have you heard the one about Japan's ghost cities (and stashes of cash)?
- China April PMIs are released from Tuesday - heads up preview
- PBOC sets USD/ CNY mid-point today at 6.7310 (vs. Friday at 6.7307)
- Day 1 of Japanese Golden Week market holidays passes without a flash crash. 5 to go.
- South Korean fin min (again) with the promise to intervene if necessary
- South Korea is preparing measures to boost exports
- Goldman Sachs EUR/USD and USD (DXY) forecasts
- Weekend news - Both S&P and Fitch rating agencies warn UK rating still at risk from a no-deal Brexit
- Spanish election counting update, nearly 95% of votes counted
- Oil - Kuwait voicing concern over threats to close the Strait of Hormuz
- China industrial profits data in March had the biggest monthly increase since July 2018
- Trade ideas thread - Monday 29 April 2019
- Abe - Trump talks. FT reports 'Japan refuses to give greater access to US farmers'
- Good morning Monday! Early FX price guide 29 April 2019
- Rise of the renminbi could be the story of the next cycle
Currencies were little moved today in Asia to begin the new FX week. News and data flow today, and over the weekend was light. We did get Chinese industrial profits for March out over the weekend, they surged back in the month, perhaps due to a post-lunar new year bounce or perhaps indicative of a more general recovery for the economy. Whatever it is the result can be added into the other data on the more encouraging side from China in past weeks. China PMIs for April begin to be published from tomorrow. Tuesday also brings the recommencement of US - China trade talks. US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are leading the US delegation in Beijing.
For Japanese markets Golden week kicked off its first holiday today (not counting the weekend). The Nikkei, along with other Japanese markets, are out until Tuesday, May 7 for the holiday week. Australia, New Zealand, Singapore and Hong Kong are the major forex centres open this week in the region with Japan out.
EUR/USD, AUD/USD, NZD/USD and even cable are all a few points higher on the session here, USD/CHF, USD/JPY and USD/CAD are all barely changed from late US levels on Friday.
USD/JPY … Friday vs. Monday...
Regional stock markets are mixed, China is lower (but off its lows) while HK is up.
Still to come: