Asia Summary and Highlights 19 Nov
Australia Q3 Wage Price Index 0.8% q/q
China intends to renew a ban on Japanese seafood imports
Asia Session
The Australia Q3 Wage Price Index bangs in estimate at 0.8% q/q and 3.4% y/y. The data is also in the ball park of RBA's forecast, thus should not see a significant deviation in rate forecast. However, as the session progress, the Aussie seems to be following the souring sentiment in the risk space and see AUD/USD trading 0.42% lower at 0.6480, NZD/USD also 0.45% lower at 0.5623 while USD/CAD rises 0.05%.
China continues to exert pressure on Japan after PM Takaichi voiced support for Taiwan. The latest measure is by renewing a ban on Japanese seafood imports, after travel ban and cut film release. USD/JPY is trading 0.05% at 155.37 as JGB outpace U.S. Treasury Yields. Else, EUR/USD is up 0.05% and GBP/USD is down 0.02%.
North American session
Pressure on equites persisted, if fading somewhat later in the session. USD/JPY came close to 155.70 before correcting to near 155.50. EUR/USD found sellers above 1.16, but found a base near 1.1575. EUR/GBP was weaker near .8805 but EUR/CHF firmer near .9260. The commodity currencies advanced, USD/CAD falling below 1.40 and AUD/USD moving above .65.
Trump suggested he could be close to a decision on Fed Chair. US data showed November’s NAHB homebuilders’ index up to 38 from 37 and a 1.4% increase in the delayed August factory orders report.