- Australia - iron ore transport - train drivers to take industrial action
- Reserve Bank of Australia Governor Bullock is speaking on Tuesday, Sydney time
- USD weakening further in Asia trade, USD/JPY towards 149.00
- Bank of America forecasts higher for longer Fed Funds rates, sees upside risks
- GBP traders heads-up: Bank of England Governor Andrew Bailey to speak on Monday
- Investors not prepared for 2024: surprising contrarian trades revealed
- Offshore yuan (CNH) jumps higher after strong setting for onshore yuan (CNY)
- PBOC sets USD/ CNY reference rate for today at 7.1612 (vs. estimate at 7.2320)
- PBOC Loan Prime Rates (LPR) remain unchanged at today's rate setting, as expected
- Japan finance minister Suzuki says once-in-a-lifetime chance to beat deflation
- Pimco makes bold yen buying move, forecasting Bank of Japan monetary tightening
- Bitcoin surges as Javier Milei triumphs in Argentina's Presidential Election
- Milei wins Argentina's presidential election, Massa concedes
- Barclays analysts report that US tech stocks are currently trading at significant premium
- People's Bank of China sets its Loan Prime Rates today, expectations are for unchanged
- Moody's upgrades Portugal and affirms Italy's Ratings
- Iran-backed terrorists seize ship in Red Sea
- Trade ideas thread - Monday, 20 November 2023
- Is OPEC+ considering output cuts? White House adviser says Arab states won't weaponize oil
- Monday morning open. Start your week with a look at indicative forex prices: 20 Nov 2023
- Argentina heads to the polls today and the existance of the currency is at stake
- UK Conservatives eye tax cuts in budget
- Weekly Market Outlook (20-24 November)
- Newsquawk Week Ahead: PBoC LPR, Minutes from FOMC, ECB & RBA, Japanese CPI
- Sam Altman forced out as OpenAI CEO
- Forexlive Americas FX news wrap: The yen rebound continues as the US dollar sags
The USD declined further in Asia-Pacific trade on Monday amidst a light news session.
All major FX is higher against the dollar, including the JPY. USD/JPY traded higher initially, to around 150.00 before dropping a big figure. Its just below 149.00 as I post.
News flow for the majors was light. From Argentina we had the news that Javier Milei won the Presidential Election. One of his key economic policies is to replace the peso as the local currency with the USD. Bitcoin jumped on the news, the back-fitted (naturally) narratives I heard to explain this was because Milei loves freedom. Or something.
From the People’s Bank of China today were the Loan Prime Rate (LPR) settings. Both one- and five-year remained unchanged. The Bank also made a significant change to the reference rate for USD/CNY, its biggest drop since September 12 to its lowest (i.e. strongest for the yuan) since August 11.AUD caught an extra bid from the better yuan, AUD/USD hitting a 3-month high. NZD/USD hit a 1-month high.
