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Tuesday, November 12, 2019

Nikkei 225 closes higher by 0.81% at 23,520.01

Japanese stocks recover after a softer last two days ForexLive The gains in the Nikkei are led by tech stocks but overall, most sectors were seen performing decently as investors keep up hope on trade progress between the US and China.

Japan October preliminary machine tool orders -37.4% vs -35.5% y/y prior

Latest data released by the Japanese Machine Tool Builders' Association - -35.5% Export orders continue to slump and reaffirms the weakness seen in the global manufacturing sector. Japan is no exception to that and this will feed into another sluggish

What is the market pricing in ahead of the RBNZ decision tomorrow?

Odds of a rate cut have gone up since overnight trading ForexLive In case you're wondering what's weighing on the kiwi dollar today, it is the fact that the market is pricing in higher odds of a 25 bps rate cut for tomorrow.

China foreign ministry: Crimes in Hong Kong must be punished

That will do little to alleviate tensions in the city As the protests and the standoff continues, this matter will continue to weigh on investor confidence and more so if it escalates further down the road.

Economic data coming up in the European session

German ZEW survey data for November in focus The kiwi has been dragged lower though after NZ data disappointed ahead of the RBNZ monetary policy decision tomorrow. Odds of a 25 bps rate cut are now at ~76% compared to the ~60% seen yesterday.

ForexLive Asia FX news wrap: RBNZ data heightens the chance of a rate cut

Forex news for Asia trading Tuesday 12 November 2019  Yes, the focus for today in Asia fell on the New Zealand dollar and how it would respond to inflation expectations data. The RBNZ meet Wednesday New Zealand time and the further drop in inflation expectations revealed today have boosted the probability of a rate cut from

More on that change of RBNZ forecast from Westpac (now expecting a rate cut tomorrow)

The earlier info this Reserve Bank of New Zealand  projection is here:  It is in response to the further fall in inflation expectations in NZ: Which has weighed on the kiwi $ today:

China's Global Times urges the downward spiral of China-Australia relations needs to be stopped

An opinion piece in the forthright Global Times out of China, titled:  Oz needs to get over anti-China hangover It outlines the srong ties between the two countires countries but goes on to say that since 2017 there has been deterioration in relations.

Westpac change its RBNZ call for tomorrow - now forecast a rate cut

WPAC was previously projecting the Reserve Bank of New Zealand  remain on hold  Change their call citing the further drop in inflation expectations, data released earlier:

Japanese PM Abe says he wants extra budget to assist economic recovery

Bank of Japan Governor Kuroda will be happy to hear this, to the extent more fiscal action from the government removes some of the heavy lifting from monetary policy.

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Nikkei 225 closes higher by 0.81% at 23,520.01

Japanese stocks recover after a softer last two days ForexLive The gains in the Nikkei are led by tech stocks but overall, most sectors were...