Forex news for Asia trading on Monday 8 November 2021
- Brexit - watch for developments on trade related to Northern Ireland, Article 16 ahead - EU and UK tensions
- JP Morgan has cut its China Q4 economic growth forecast again
- New Zealand's largest city to have eased lockdown from Wednesday
- Federal Reserve speakers on Monday 08 November 2021 include Chair Powell
- Goldman Sachs are optimistic the worst is over for supply chain logjams
- China officials say coal output is at its highest in recent years
- ANZ on the stealth policy tightening in Australia
- Oil prices higher in Sunday evening (US) futures trade - Aramco price hikes cited
- PBOC sets USD/ CNY reference rate for today at 6.3959 (vs. estimate at 6.3906)
- Gold catches a bid, testing US$1820
- Bitcoin pops towards US$64.5K
- BOJ October meeting summary - expecting pent up demand in Japan
- The Central Committee of China’s ruling Communist Party holds a closed-door meeting this week
- EUR/USD - ECB will be slow to hike, keep buying for QE
- Former Fed Board member says the Bank will hike by (northern) summer
- Trade ideas thread - Monday 08 November 2021
- US Energy Secretary Granholm says Biden considering tapping SPR to lower gasoline prices
- Weekend - Bank of Canada Governor Macklem said inflation is 'transitory but not short-lived'
- China trade data over the weekend - exports beat expectations in October, and a record trade surplus
- Reminder - US and Canadian clocks wound back an hour on Sunday end of daylight saving
- Monday morning open levels - indicative forex prices - 08 November 2021
- Ripple XRP: Recent developments and price updates
- US House has passed the infrastructure bill - heads now to Biden for signing
NASDAQ futures trading on Globex came under some selling pressure upon reopening for the week on the back of a tweet from Tesla CEO Elon Musk over the weekend asking his followers if he should sell some TSLA shares. Yes, really. Check it out here:
- Elon Musk asks Twitter if he should sell 10% of his shares
- Here's how Elon Musk's TSLA share sale poll is going
Also over the weekend were trade figures for October from China, with a big jump in exports and the largest trade surplus on record (so far). It wasn't all good news for China though with further property sector-related bond payments missed. China and Hong Kong stock market indexes are trading mixed on the session, gyrating around not much changed.
From the US over the weekend (late Friday evening US time) was the news that the House of Representatives in Congress had voted to pass an infrastructure bill - its now to be signed by US President Biden, the US Senate having passed the bill weeks ago.
Across the forex space there have been some minor moves during the session here. USD/JPY is up around 25 points - the Bank of Japan 'Summary' (see bullets above) emphasised the Bank would not be dialling back easy policy any time soon.
Gold is up a few dollars while Bitcoin traded steadily over the weekend and drove higher to above US$65.5K at one stage during Asia trade here.
