ForexLive Asia FX news wrap: Australia business conditions stabilise in November

News

Forex news for Asia trading Tuesday 10 December 2019 

AUD and NZD were the only majors to have much of a range on the session here.

I’ll come back to those.

There was a lot of news on an impending NAFTA (Ok, USMCA – the US-Mexico-Canada trade deal) announcement. It seems we should expect something on Tuesday US time (around midday east coast US time but it could be earlier). Note, this is an announcement we are expecting, not the sigining of the deal. Or Congressional approval. This has been dragging on for years and I don’t expect resolution tomorrow (I better bookmark this page so I can cut and paste it when I need for the US-China ‘deal’). CAD is little changed on the session here. The peso is up a little against the USD. 

From Australia today we had the much-watched NAB business survey, which reports on business confidence and conditions. Conditions stabilised below their long run average while confidence fell. Nevertheless, both AUD and NZD have risen from their earlier lows, albeit within a small range for both. 

The Japanese 10-year bond yield rose to its highest since March this year, to (wait for it …) zero per cent. USD/JPY is barely changed on the session. 

EUR/USD is up a tics, and cable has bounced off its early low sub-1.3140 by a few points. 

Still to come:

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