ForexLive Asia FX news wrap: Can we get the election out of the way already?

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Forex and Bitcoin news for Asia trading Tuesday 6 November 2018

Wow, what a session here in Asia. Today’s excuse for not doing much at all was the upcoming election in the US on Tuesday. Currency ranges were bottled up into very narrow ranges indeed.

Apart from the RBA news and data flow was non impactful. Let me rephrase that, including the RBA news and data flow was non impactful.

The RBA left its cash rate target unchanged at 1.5%, where its been for over two years now and this looks set in stone for some time to come. There were minor changes to Governor Lowe’s statement, a little happier on the labour market and GDP growth, and yet again saying inflation is expected to pick up into the target area. AUD response was negligible. As a not today was a big sporting event day in Australia, the Melbourne Cup horse race. This can see thinner than usual liquidity in Australian financial markets. AUD did little all session.

NZD/USD has drifted off a few points. There is an RBNZ meeting this week and Wednesday morning (NZ time) will bring the latest quarterly jobs report.  

EUR, GBP, yen, CAD, CHF all not too much changed, minor movement indeed.

Still to come:

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