Forex news for Asia trading Monday 13 November 2017
- Fed’s Harker (again!): Fed doesn’t have to remove a lot of accomm to return to normal
- Weekend comments from ECB’s Lane
- More on «Japan’s cash-rich companies ready to spend more on M&A, not wages»
- AUD — recap of RBA’s Debelle speech and comments today
- Reuters poll: Japan’s cash-rich companies ready to spend more on M&A, not wages
- More from RBA’s Debelle: Expects infrastructure investment surge to continue
- USGS reports Magnitude 6.1 earthquake off the east coast of Japan
- Bank of Japan Governor Kuroda speaks Monday in Zurich (here is the timing and topic)
- Economic data due from Asia today — RBA, Fed speakers
- Monday morning FX — 13 November 2017 — foreign exchange prices, early indications
- 7.2 magnitude earthquake hits south of Halabjah, Iraq
- Lebanese President told foreign ambassadors that PM Hariri ‘kidnapped’
- Worries about the end of humans in forex are overblown
Cable was a notable loser to open the week in Asia this Monday. Right from the off it slid, with various Brexit and UK politics related news items weighing, eg.:
- Weekend French press: EU preparing for possible collapse of Brexit talks — Barnier
The knives are out for Theresa May again: 40 MPs say she must go
There has barely been a bounce and its not far from sessions lows as i update.
Yen was a loser also, with USD/JPY moving to around 113.70 in the Tokyo morning and sideways since not much lower at all.
EUR/USD is down a few points net on the session, USD/CHF a few points to the better.
The Australian dollar was lower in the early goings on but has recovered somewhat in a small range to be net little changed from its Late Friday levels. RBA’s Debelle spoke, he was upbeat on buinsess investment improving (see bullets above).
NZD/USD, pretty much ditto.
Apart from what I have mentioned news and data flow has had little impact. Atlanta Fed head Harker spoke in Tokyo today without adding too much; he and the Fed looking at inflation and other economy indicators … still … and as expected. He did not rule out (or in) a December rate hike. More in the bullets from Mr. H, above.