Thursday, December 8, 2022, forex news for Asian trading
Market Considerations and Analytics
Key Notes
Sharon Kozicki, the Bank of Canada’s deputy governor, will speak on December 8th.
For the purpose of covering Twitter’s debt, Musk may obtain a margin loan backed by Tesla (TSLA) stock.
At 7:00 GMT, China will host a media briefing on the prevention and management of COVID.
Be aware that US President Biden will discuss the economy on December 8th, 2022.
There are rumours that China is asking underwriters to buy bonds from banks.
Scoita aims for higher EUR/USD – support and resistance levels
Chair of the House Financial Services Committee Waters refuted a story that she intends to subpoena SBF
USD is marginally greater in early trade in Asia, although sentiment is weak.
Fed soothsayer Timiraos anticipates lower US inflation
PBOC sets the USD/CNY reference rate at 6.9606 for today vs. estimate at 6.9603
Sam Bankman-Fried of FTX is being investigated by federal authorities for manipulating two cryptos.
Two pieces about cryptocurrencies are published by RBA in its regular Bulletin.
Australian October exports and imports both decreased, with a larger trade surplus than anticipated.
New restrictions on the sale of chip making gear to China are being planned by Dutch officials.
Japan’s final Q3 GDP was down 0.8% quarterly (Q2 was up 0.9%).
In case you missed it, the Bank of Canada chose a 50 bp increase.
The majority of Japanese businesses favour a higher yen.
CPPI, Canada’s largest pension plan, stops investing in cryptocurrencies.
Data from Australia indicates “wide ranging inflation pressures” and income growth that is higher than the RBA predicted.
Despite a 50 BP BOC increase, the CAD is the weakest strong of the majors.
Goldman Sachs on the two distinct variables that are expected to boost the NZD’s performance in the future.
S&P and NASDAQ finish down after new Massive Zealand exporter Fonterra decreased the upper end of its anticipated farmgate milk price.
News of COVID loosening from Hong Kong and the Chinese mainland persisted today. A press conference on COVID prevention and control will be held at 3pm Beijing time (0700 GMT), so stay tuned for more. As of today, Hong Kongis mulling eliminating its outdoor mask regulation and is anticipated to reduce the isolation period for COVID patients from seven to five days. The USD/JPY exchange rate moved during the session once again. It was helped back to 173.00 and (very momentarily) beyond by firmer US yields.
Following the Bank of Canada’s rate increase, USD/CAD moved a tiny bit stronger. Be aware that later on Thursday, Deputy Governor of the Bank of Canada Sharon Kozicki will talk (1745 GMT).
There isn’t much flux to report otherwise. There have just been a few little fluctuations.
At 1910 GMT on Thursday, US Vice President Biden will speak about “developing a strong economy.”
