| 19 Mar 2019 |
01:59 |
USD/JPY - 111.29... The greenback remained under pressure yesterday and dropped to 111.30 at NY midday on broad-based buying in jpy before staging a rebound to 111.45 nr NY closing. However, dollar met renewed selling there and fell at Tokyo open to 111.25 after tripping stops below yesterday's 111.30 low together with initial retreat in Nikkei-225 index.
Intra-day break of yesterday's 111.30 low signals rise from March's low at 110.79 has ended at 111.190 last Friday, suggesting consolidation with downside bias remains. offers are now lowered to 111.40/50 and more above at 111.60/70 with stops building up above there whilst initial bids are noted at 110.90/00.
Market focus is now on the Federal Reserve's rate decision, as they commence their 2-day FOMC meeting today. Although no change to the rate is expected, traders are looking for the language used by the central bank in regards to its forward guidance after recent releases of soft U.S. data.
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| 19 Mar 2019 |
00:34 |
Continues fm prev. update...
Policy makers expect a further fall in the unemployment rate to around 4.75 percent, which would lead to a gradual pick up in wages.
The unpredictability around how consumers would react to potential further losses in housing prices led the RBA to downgrade its forecasts for growth through 2021 while expecting an even slower pick-up in inflation.
That also led the RBA to shift away from its long-held tightening bias to bring rate cuts back on the table. The minutes showed the risk for interest rates to go in either direction was "evenly balanced".
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| 19 Mar 2019 |
00:33 |
Continues fm prev. update...
The Board also saw a risk of a "marked slowing" in home building in the next year or two unless pre-sales picked up significantly.
Fears negative wealth effects from housing would take a toll on the wider economy explains why the RBA is so focused on the resilience of employment.
"Members agreed that development in the labour market were particularly important," the minutes showed.
"There continued to be considerable uncertainty around the outlook for consumption given the environment of declining housing prices in some cities, low growth in household income and high debt levels."
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| 19 Mar 2019 |
00:32 |
AUD/USD - 0.7097... Reuters reported Australia's central bank was looking to strike a balance between the damaging effects of crumbling home prices on consumer spending against a sturdy labour market when it left interest rates at a record low earlier this month.
Minutes of the Reserve Bank of Australia's (RBA) March policy meeting showed members spent considerable time discussing the fall in the supply and demand for home loans and the implications of cooling housing prices on the country's economy.
Members assessed that reduced demand from borrowers, particularly property investors, largely explained the credit slowdown. Members also noted the recent weakness in household consumption, with cars sales especially hit by nosediving property prices.
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| 19 Mar 2019 |
00:28 |
USD/MAJ - 111.26... Reuters news, Japan EconMin Motegi says:
- hopes BoJ keeps doing utmost twds achieving price target
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| 18 Mar 2019 |
23:50 |
GBP/USD - 1.3256.. Breaking news on Reuters, UK PM May to formally request EU's Tusk for long Brexit delay - the Sun |
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| 18 Mar 2019 |
23:03 |
GBP/USD - 1.3246.. More Brexit news, Reuters reported Eurosceptic Conservative lawmakers have threatened to go on strike if Prime Minister Theresa May delays Brexit by a year, the Sun newspaper reported on Monday.
Around twenty members of the pro-Brexit European Research Group have told whips they will carry out "vote strikes", a move that would push May's government to the verge of collapse, the newspaper said.
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| 18 Mar 2019 |
23:02 |
GBP/USD - 1.3246.. More Brexit news, Reuters reported the British government is considering a statement by parliament's speaker on Monday that Prime Minister Theresa May could not put her Brexit deal to a new vote unless it was fundamentally changed, May's office said on Monday.
In comments that blindsided May's office, speaker John Bercow said the government could not bring forward proposals for a vote in parliament that were substantially the same as ones that had been defeated twice before.
"We note the speaker's statement. This is something that requires proper consideration," a spokesman for May's office said.
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| 18 Mar 2019 |
23:01 |
GBP/USD - 1.3245.. Brexit news on Reuters, British Prime Minister Theresa May has been told by senior Conservative party colleagues that she will have to set a timetable for her departure date from Downing Street in return for passing her Brexit deal, the Financial Times reported on Monday.
The prime minister's chief whip, Julian Smith, is understood to have told May that some Conservatives will only vote for the deal if they are certain she will not lead Britain into a second round of talks with the EU on a future relationship, the newspaper said.
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| 18 Mar 2019 |
23:00 |
EUR/GBP - 0.8558.. A piece of o/n Brexit news worth noting. Reuters reported earlier European Union leaders could hold off making any final decision on any Brexit delay when they meet in Brussels later this week, senior diplomats in the bloc said, depending on what exactly British Prime Minister Theresa May asks them for.
The senior national diplomats in Brussels spoke on Monday afternoon after the UK's speaker of parliament seemed to have dashed May's hopes for a third House of Commons vote - which had initially been expected as soon as this week - to approve her stalled divorce deal with the bloc. (Full Story)
The speaker, John Bercow, said the deal would need to be fundamentally different to qualify for another vote, after parliament rejected the agreement in January and again last week.
As the EU's Brexit planning was thrown up in the air again, several senior EU diplomats said the leaders' summit on March 21-22 could chose not to make any firm decisions.
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| 18 Mar 2019 |
17:06 |
GBP/USD - 1.3229... Reuters news, UK Solicitor General says :
- there are ways around the speaker's ruling
- prorogation is an option for government
- this speaker has made his name by being interventionist
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| 18 Mar 2019 |
16:44 |
GBP/USD - 1.3222... Reuters news, citing source fm BBC Newsnight political editor, UK Solicitor General says :
- the creation of new session of parliament probably only way around speaker's vote ruling
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| 18 Mar 2019 |
16:16 |
GBP/USD - 1.3230... Reuters then reported Britain's parliamentary speaker did not forewarn the government about his statement, Prime Minister Theresa May's spokesman said on Monday after it was announced that May could not bring the same Brexit deal back for another vote.
May's spokesman told reporters he was not yet in a position to comment on the statement, when John Bercow said the government would have to bring a different proposition to parliament if it wanted to stage another Brexit vote.
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| 18 Mar 2019 |
16:05 |
GBP/USD - 1.3228... Reuters news, UK PM May's spokesman says :
- if Britain were to participate in European Parliament election, would have to give notice of poll by April 12
- speaker did not forewarn us of his statement and its content
- not in position to comment on speaker's statement
- we are not in a place to discuss motion and timing for another Brexit vote
- discussions with DUP ongoing
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| 18 Mar 2019 |
16:04 |
GBP/USD - 1.3226... Reuters news, UK Parliament speaker Bercow says :
- in all likelihood, government would need further changes to deal from EU to be allowed another vote in parliament
Reuters then reported the British government is likely to need to win changes to its Brexit deal with the European Union in order to be allowed to put it to a further vote in parliament, the House of Commons Speaker John Bercow said on Monday.
Bercow earlier said the government must not submit "the same proposition or substantially the same proposition" to the Brexit deal which was rejected last week.
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