EUR/USD price action rests in between the key hourly moving averages See here for global coronavirus case data The dollar was trading weaker yesterday and EUR/USD buyers tried to take advantage of that to push above the 200-hour MA (blue line).
Blogs
Gold extends fall below $1,700 ahead of European trading
Gold is down by over 1% to a low near $1,693 After testing resistance near $1,740, gold is taking a trip back lower to start the week as oil prices come under pressure once again. It was also a similar case for gold in the early stages last week as we saw price fall to […]
FX option expiries for Tuesday April 28 at the 10am NY cut
EUR/USD USD/JPY GBP/SD NZD/USD See here for global coronavirus case data
BOJ's Kuroda: Global economy is rapidly slowing down
Comments by BOJ governor, Haruhiko Kuroda, in parliament – Japan's financial system remains stable – Banks have sufficient capital buffers – BOJ is closely watching risks to the financial system See here for global coronavirus case data
MAS: Singapore economy could contract by more than official forecast
Monetary Authority of Singapore comments in their latest economic review – Wages to bear brunt of the coronavirus shock – Downside risks remain to economic forecast See here for global coronavirus case data
PBOC sets USD/ CNY reference rate for today at 7.0710 (vs. yesterday at 7.0703)
People's Bank of China No reverse repos in open market operations today – skips OMOs See here for global coronavirus case data
BOJ increases the size of its JGB purchases across all maturities in its buying operation today
Bank of Japan Japanese Government Bond purchase operation 1 – 3 year buys increased to 340bn yen from 320 bn previous operation – 3 – 5 to 300bn yen from 280bn Yen a few tics weaker
The forecast for negative rates from the RBNZ weighing on the NZD – RBNZ to push back?
Westpac issued a forecast earlier for a negative cash rate in New Zealand The NZD has lost ground since. There is some chatter about that the Reserve Bank of New Zealand will push back against the idea it will implement negative rates, the reasoning being that those DM central banks that have taken the negative […]
More debt monetisation news – direct central bank buying of government bonds in Asia today
I posted on the RBNZ earlier (last week!) and Governor Orr's comments on debt monetization: Its ramping up, today the central bank in Indonesia, Bank Indonesia, is set to is poised to buy sovereign bonds directly from the government.
HKD – HK 'central bank' ramps up its defence of the band
The Hong Kong dollar is testing the strong end of its currency band. That is, HKD strengthening against the USD (USD/HKD lower as you can see below) HKMA is injecting HKD into the banking system to defend the bottom of the band.