ForexLive Asia-Pacific FX news wrap: USD pumps higher

• New York Fed’s Williams speaking Thursday – Kugler, Barkin also (Powell too!)
• Australian jobs report recap – “remains in relatively solid health”
• Bank of England Monetary Policy Committee member Mann is speaking again on Thursday
• People’s Bank of China has more work to do to support the yuan
• European Central Bank President Lagarde and VP de Guindos speaking Thursday, Schnabel too
• Federal Reserve Chair Powell is speaking on Thursday
• GBP traders heads up – Bank of England Governor Bailey is speaking late Thursday
• China’s annual production of new energy vehicles surpassed 10 million units on Thursday
• PBOC sets USD/ CNY reference rate for today at 7.1966 (vs. estimate at 7.2326)
• ICYMI: Ex-Mr Yen Kanda said Japan will act appropriately against excess FX movements
• AUD/USD little changed after the October employment report showed a steady jobless rate
• Australian October unemployment rate 4.1% (vs. 4.1% expected)
• UBS maintain a US$2900 target for gold
• RBA Bullock says rates are restrictive enough, staying there until confident on inflation
• USD/JPY above 155 – Citi wary of intervention risk
• Investment bank bullish on Fed rate cuts; inflation concerns linger
• Oil – private survey of inventory shows headline crude oil draw vs build expected
• New Zealand data – FPI -0.9% in October (prior +0.5%)
• Forexlive Americas FX news wrap 13 Nov: US CPI comes out as expected. USD continues rise
• Trade ideas thread – Thursday, 14 November, insightful charts, technical analysis, ideas

The
continuing US dollar uptrend … continued.

USD/JPY
traded, above 156.00, to a high not seen since July. EUR/USD,
meanwhile, dropped under 1.0550 to a low not seen in a year. AUD,
NZD, GBP, CHF, CAD, yuan all moved lower. As did hapless gold.
BTC/USD dropped back from above US$93.5K, but this thing is a beast,
it gets a free pass 😉 .

On
the data front the release of note was Australia’s job report for
October. Job growth slowed down and the unemployment report steadied
at 4.1%. It was a solid report without being spectacular. Slowing
wage growth (data released yesterday) and a steady job market leaves
the Reserve Bank of Australia to focus on bringing inflation down.
RBA Governor Bullock spoke during the session. Bullock was not
dovish, signalling that rates are restrictive enough but will not be
coming down imminently.

The
People’s Bank of China once again set the USD/CNY reference rate
weaker (stronger for CNY) than estimates indicated.

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