PBOC sets USD/ CNY reference rate for today at 7.0217 (vs. yesterday at 7.0118)
No OMOs today.
FX option expiries for Thursday November 21 at the 10am NY cut
- 1.0950 684m EUR
- 1.1000 1.2bn
- 1.1025 605m
- 1.1035 669m
- 1.1050 884m
- 1.1090 1.2bn
AUD/JPY slipping. If you are wondering why ….
Just a few of the recent headlines ICYMI ….
Forex risk not liking it, AUD/yen for example. Slow droop though:
Goldman Sachs expect the global economic growth slowdown to end soon
- annual-average GDP growth is likely to rise only modestly from 3.1% in 2019 to 3.4% in 2020,
A little more from the note:
Monetary Authority of Singapore official says monetary policy remain appropriate
- policy stance ahead will be based on how the economy evolves
- core inflation range unchanged from estimates in October
White House trade adviser Navarro says China is exploiting a loophole in solar tariffs
Singapore Q3 GDP beats estimates: 2.1% q/q annualised vs 1.8% expected
- 2.1% q/q annualised vs 1.8% expected
- +0.5 % y/y (0.4% expected)
- MIT narrows 2019 GDP growth forecast to 0.5% to 1% (previous forecast zero to +1%)
More headlines that Trump is expected to sign the Hong Kong support bill
Now its Reuters turn, also citing a person familiar (maybe its the same one?)
- That President Trump will sign the bill
AFAIK there is no point him trying to veto it given the majority it passed with in the House and Senate.
More central bank minutes to come - today its the ECB's turn
While the FOMC minutes out Wednesday indicated a move towards harmony amongst members the ECB minutes may well show the opposite.
Bank of Japan “stealth tapering”?
Says the Financial Times:
Sounds like tapering back of the scheme to me. Maybe that is not such a bad thing (BTFDerrs, I'm sry)