USD strength overnight reflected into the lower USD/CNY reference rate setting from the People’s Bank of China for Tuesday Comes after a consistent string of lower for the yuan. PBOC bolstering the CNY by the biggest margin in about 3 weeks
This will reignite concerns about Reserve Bank of New Zealand independence Rightly or wrongly. RBNZ statement: This has been on the cards for a while (ever since the new government really) , this from two weeks ago:
Minutes of the Reserve Bank of Australia October monetary policy meeting Quick headlines via Reuters: : The full text is here: Minutes of the October 2018 Monetary Policy Meeting of the Reserve Bank Board
Oh wow. This is a useless post on so many levels. Do yourselves a favour, print it out, then rip it up! You’ll feel so much better! OK, in more detail: – Lael Brainard spoke in Denver There you go, useless post! Have fun!
Credit Agricole on the Chinese yuan – China will intervene to support CNY and prevent a move above 7 – CA says the country will defend the level to prevent capital outflow via Bloomberg summary
Trump again touches on the Fed The story isn’t what he’s saying here and whether it’s true or not. The story is that when things dip or sag or go badly, he’s going to blame it on the Fed and over time that’s going to politicize the Fed.
Powell speaks at FSOC meeting ForexLive
Reserve Bank of New Zealand with one of its preferred inflation measures, the sectoral factor model In a nutshell a measure of core inflation Comes in at 1.7% y/y for the quarter
The Reserve Bank of Australia is firmly on hold and have managed to turn meetings into a giant snooze fest Thus, the minutes do not attract much attention, and today is no different.
Kuroda on Bloomberg TV – The US-China trade dispute is the most difficult – We hope the US and China will make a constructive deal at some point – USD/JPY could be moved by interest rate differentials in the short term Nothing market moving here. USD/JPY is down 37 pips to 111.84 today.