0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar slide extended against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah. Focus turns to the US jobs report, ASEAN GDP and the RBI. Get your market update from @ddubrovskyFX here:https://t.co/FLmFQCM0wl https://t.co/KDkCIbsULh
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.06% Oil - US Crude: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rANpmuh6nH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.13% 🇨🇦CAD: 0.05% 🇬🇧GBP: 0.05% 🇪🇺EUR: 0.02% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2TJ4Efxjgj
  • See @ZabelinDimitri's take on geopolitical risks impacting markets in the week ahead here - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/08/04/Euro-at-Risk-on-EU-Digital-Sovereignity-Stance-USD-Eyes-Stimulus-Talks.html
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.51%, while traders in US 500 are at opposite extremes with 78.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5UNq3x8wHZ
  • Last week, the #SP500 gained 1.74% This is despite a -0.23% shrink in the #Fed balance sheet #FAANG and tech stocks may have played a key role here as earnings smashed expectations Markets may be looking to US fiscal stimulus this week to keep momentum going https://t.co/x5Q0HjOGMU
  • 🇦🇺 Balance of Trade (JUN) Actual: A$8.202B Expected: A$8.8B Previous: A$7.341B https://www.dailyfx.com/economic-calendar#2020-08-04
  • 🇦🇺 Retail Sales MoM (JUN) Actual: 2.7% Expected: 2.4% Previous: 16.9% https://www.dailyfx.com/economic-calendar#2020-08-04
  • 🇦🇺 Balance of Trade (JUN) Actual: A$8.202B Expected: A$8.8B Previous: A$8.025B https://www.dailyfx.com/economic-calendar#2020-08-04
  • 🇦🇺 Retail Sales MoM (JUN) Actual: 2.7 Expected: 2.4% Previous: 16.9% https://www.dailyfx.com/economic-calendar#2020-08-04
USD/JPY, AUD/USD, NZD/USD Rates Sink as HK Bill Fuels Trade War

USD/JPY, AUD/USD, NZD/USD Rates Sink as HK Bill Fuels Trade War

2019-11-20 00:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

  • Yen gains, USD/JPY may fall as US passes Hong Kong Bill
  • Chinese countermeasures may derail hopes of a trade deal
  • AUD/USD, NZD/USD may decline as Asia stocks weaken

Find out what the #1 mistake that traders make is and how you can fix it!

Yen May Gain as AUD, NZD Fall on US Passing Hong Kong Bill

The anti-risk Japanese Yen is gaining and may extend its rise ahead after the US Senate passed the Hong Kong Human Rights and Democracy Act. This is a bill that requires a yearly review of whether the city-state has sufficient autonomy from China and comes amid ongoing clashes between protesters and law enforcement. For markets, this also occurs as the US and China attempt to negotiate a trade deal.

The former has expressed opposition to the bill and threatened countermeasures should it come into law. This has created concerns that China could raise tariffs, such as the ones the WTO has granted it to impose against the US. A breakdown in trade talks risks souring investor confidence and overturning recent record highs achieved in the S&P 500 and Dow Jones as well as weakening the pro-risk AUD and NZD.

S&P 500 futures now pointing decidedly lower heading into Wednesday’s Asia Pacific trading session. With the regional economic docket relatively light, market mood will likely be the primary driver for foreign exchange markets. Declines in the Nikkei 225 and ASX 200 could spell disaster for the sentiment-linked AUD/USD, NZD/USD and ASEAN FX. This is as the Yen may extend its recovery against the US Dollar.

Tuesday’s US Trading Session

During the Wall Street trading session the Canadian Dollar plunged, ending the day as one of the worst-performing majors – as expected. Commentary from Bank of Canada’s Senior Deputy Governor Carolyn Wilkins underpinned recent cautious expectations expressed by the central bank. Mr Wilkins noted that the global context worsened, undermining the BoC’s resilience to cutting rates this year despite slowing growth.

Japanese Yen Technical Analysis

The Rising Wedge bearish chart pattern in USD/JPY still remains in play after prices failed to push back into the formation. A daily close under 108.24 opens the door to testing 107.89 and possibly overturning the dominant uptrend that has prevailed since the end of August. Otherwise, pushing above 109.32 would pave the way for resuming the uptrend.

Join me later today at 1:00 GMT as I cover what the prevailing trends in market positioning are revealing about the outlook for the major currencies!

Chart of the Day – USD/JPY

USD/JPY, AUD/USD, NZD/USD Rates Sink as HK Bill Fuels Trade War

Chart Created Using TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.