Asia FX Handover: Big 4 Bank Forecasts 3x RBA Cuts in 2019
|- It felt the calm after the storm following events from the European and US session, with minor range overall as markets digested weaker global data.
- The exception for FX is AUD, which is the weakest major after Westpac Bank upped their dovish forecasts for 3x RBA cuts in 2019.
- President Trump is reported to be contemplating punishments for currency manipulators (spoiler alert, he means China) whilst also saying issues with ‘dangerous’ Huawei could be resolved with a trade deal.
- NZ PM Arden has signalled lower growth for New Zealand.
- Japan’s key inflation gauge hit a 4-year high, although the milestone read was undermined as it was driven by a spike in tourism fees. All other reads hit their low expectations.
- WTI made an almost feeble effort to lift itself from $60, following its worst session of the year. Japanese equities gapped lower, yet gaps were filled as they tried to track Chinese shares cautiously higher. US index futures have ticked slightly higher but, overall, look like sheepish moves compared with yesterday’s rout.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.