The Hong Kong Monetary authority has sold HKD against USD to defend the band – Sold HKD 977m Info via Reuters. Here you can see the USD/HKD, the HK dollar is at the strong end of its band:
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Trade ideas thread – Friday 5 June 2020
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: And, if you are out for a party this weekend, &/or a bike ride:
US Sec State Pompeo to warn against ‘fraudulent’ accounting practices of China-based companies
Secretary of State Mike Pompeo with no reprieve on US-China strains – plans to warn American investors against 'fraudulent' accounting practices of China-based companies Info via Reuters.
Oil rumour – OPEC drag forward their meeting from June 9 to June 6
That's the word from the oil market. OPEC+ meeting brought forward to this weekend. Awaiting confirmation. If so, tune in Monday morning for some slippery oil price moves!
ForexLive Americas FX news wrap: ECB sees economy shrinking 8.7%. Euro rallies for 9th day
Forex news for North American trade on June 4, 2020: Markets: The euro was the big mover on the day as it extended the winning streak to nine days. The bears tried to sell the statement and the end of the press conference but the higher PPE than expected tightened spreads and added a fresh […]
Lufthansa will replaced in the DAX by Deutsche Wohnen
For the DAX peeps out there. – Lufthansa, the bailed out airline, is out. 32 year run comes to an end. – Deutsche Wohnen (a German property company) is in! The firm is second largest German apartment rental company.
Economic calendar due from Asia today – Friday 5 June 2020
Little here to move FX rates upon release 2230 GMT Australia – AiG Services PMI for May – Australia Australian Industry Group Performance of Services Index 2301 GMT UK – GfK Consumer Confidence for May, final
Canada's CMHC to tighten mortgage lending standards – report
CMHC will make it tougher to qualify for a mortgage Canada Mortgage and Housing Corp is going to make it tougher to get an insured mortgage, to the Globe & Mail, which cites a unnamed source.
Non-farm payrolls preview: The May jobs report by the numbers
What is expected and what are other jobs numbers saying? The seasonal trend in June shows 52% of the time it's below consensus however for the unemployment rate only 30% of June data points have been higher than expected with 70% matching or below consensus.
ANZ isn't giving up on the bear case for NZD/USD, sees huge drop
ANZ on why they are staying structurally bearish NZD/USD and target 0.55 by year-end- ANZ ANZ Research maintains a structural bearish bias on NZD through year-end. "By virtue of its economy, New Zealand was highly exposed to the pandemic's fallout. It experienced a total drop in tourism, which will weigh on domestic incomes, spending