Forex news for Asia trading Friday 16 August 2019
AUD and NZD were movers here today. Neither is too much changed on the session but relative to others the two have been where the action was.
For the Kiwi there was plenty of news and data flow, from the manufacturing PMI slipping into contraction for the first time since 2012 to comments from the RBNZ Governor defending the Bank’s independence and later a piece from the RBNZ saying interest rate cuts are still effective. UBS followed later still by adding in another expected rate cut to their RBNZ outlook (see bullets above for more on all of these).
NZD/USD dropped to lows circa 0.6430 before recovering to be only little net changed on the session above 0.6440 as I update.
For the Australian dollar, it benefitted from some flows out of kiwi and into Oz. No data nor idiosyncratic news for it. As I update it has traded to fresh highs since yesterday’s positive employment report but 0.68 has proven still too far away.
Elsewhere there is very little net change on the session after only small ranges. Of the others USD/CHF is likely the most notable, tis tip-toed steadily higher for the session, adding around 25 points.
EUR/USD is looking heavy again around 1.1100 as I update.
Gold managed a small break of its overnight high but could not sustain, its back around 1520.
Still to come: