ForexLive Asia-Pacific FX news wrap: Oil prices drop on Israel assurances

• Five reasons why US inflation risks are still rising
• Federal Reserve speakers today include Daly, Kugler and Bostic
• PBOC sets USD/ CNY reference rate for today at 7.0830 (vs. estimate at 7.0840)
• BBG: US weighs capping AI chip sales from Nvidia, AMD, other US firms to some countries
• ICYMI – China’s exports grow at their slowest pace in 5 months in September
• Oil still falling after the earlier news of no attacks on Iran oil, nukes
• China has begun enforcing a tax on overseas investment gains by the country’s ultra-rich
• US Vice President Harris to soften stance on crypto regulation in speech Monday
• US retail sales report later this week could boost the ‘no landing’ case even further
• AUD traders diary note – RBA speaker scheduled for Wednesday, October 16, 2024
• What to watch to warn of Saudi Arabia potentially flooding the market with cheap oil
• The latest Australian weekly survey of Consumer Confidence virtually unchanged
• Aggressive Fed easing more like a Christmas wish list rather than the most likely outcome
• ICYMI: Citi Brent base case is average as low as $65, but Mid East trouble could see $120
• Fed’s Kashari says Bitcoin has been around a dozen years and its still useless
• Fed’s Kashari says a lot of progress made on inflation, labor market is strong
• Nassim Taleb warns that markets are more vulnerable now than in the past 20-30 years
• Forexlive Americas FX news wrap 14 Oct: Crude oil falls.Netanyhu says won’t bomb Iran oil
• Netanyahu told US that Israel will strike Iranian military, not nuclear or oil, targets
• Chinese state media report on Goldman Sachs raising its forecast for China economic growth
• USD to strengthen regardless of who is (big spending) president next year, E/U around 1.08
• S&P index closes at a new record for the 46th time in the year. Dow at a new record
• Trade ideas thread – Tuesday, 15 October, insightful charts, technical analysis, ideas

The
late afternoon in the US brought news that Israel’s Prime Minister
Netanyahu had told the US that Israel will strike Iranian military,
not nuclear or oil, targets. This sign of restraint saw oil drop
sharply. The lower price extended a little further during the Asian
trading session so far.

Minneapolis
Fed President Neel Kashkari spoke,
not adding a lot to his earlier comments during the US session and
not shifting around major FX rates noticeably.

Apart
from these, news and data flow was very light.

Major
FX rates maintained limited ranges only. USD/JPY dipped briefly under
149.50 before moving back to the middle of its session range around
149.65.

The
yuan lost ground, with CNY
hitting its weakest since September 19.

Chinese
mainland equities were mixed but Hong Kong was weak.

This article was written by Eamonn Sheridan at www.forexlive.com.