Forex News on Trading with Asia Friday May 15, 2020
Currencies got through the session here pretty well after rising
during the American afternoon. There was one last little pop over the United States
high for EUR, GBP, AUD, NZD against USD (USD / CAD vice versa dip)
but that was soon reversed and this is all at their session lows
as I post, in limited ranges.
the flow was light and, as you can see, little impact. On the
data front the focus was on China activity data for April.
Industrial production of the month and YTD showed a practical pace of
expectations, confirming the (slow) resumption of the offer we have
seen. The demand is not so rosy, however. Retail sales for
the month was another poor result and a lack on the central median
estimate. Concerns about future economic conditions and employment are
weighing on consumers in China, and elsewhere of course leading to
more savings and less expenses. Deflation seems anchored for the
months to come.
of China today, the People’s Bank of China has led a year
injection of funds via a 12-month MLF. 100nn yuan did not reach the
200 billion yuan matured in MLF on Thursday (see bullet points above).
lifted the coronavirus state of emergency in 39 prefectures, softening
back on restrictions.
Retail sales in China: