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Welcome to Wednesday 4 November 2020 in Asia. It is reasonable not to place to much store on early election results incoming from the US:
Also, if you watched my presentation at the ForexLive TradeOn summit a couple of months back you’ll see real-time examples of institutional market-making FX in action today. You can expect FX price swings as books are hedged and protected as news is incoming. The order book and incoming customer flows information available to market makers really pays off on days like this. If you are trading without this information and access to flows you may find the day ahead challenging. You may see what appear to be inexplicable price swings, these will be based on flows, order books and wider spreads than normal today.
OK, apart from the big event of the day, here is what is on the data agenda.
2130 GMT Australia AiG
Construction PMI for October
2145 GMT New Zealand jobs report for Q3
-
Unemployment rate expected 5.3%,
prior 4.0% -
Employment change expected -0.7%
q/q, prior -0.3% -
Employment change expected 0.2%
y/y, prior 1.2% -
Participation rate expected 70.0%, prior 69.9%
-
Private wages excluding
overtime expected %0.2 q/q, prior 0.2% -
Private wages including
overtime expected 0.3% q/q, prior 0.2% -
Average hourly earnings
expected 0.3% q/q, prior 0.4%
2200 GMT Australia – Markit
Services and Composite PMI for October (final)
2350 GMT Japan monetary base for October
2350 GMT Bank of Japan minutes (September meeting)
0000 GMT New Zealand – ANZ
Commodity Price index for
0030 GMT Australia Retail
Sales excluding inflation for Q3
0030GMT Australia Retail Sales
for September
0145 GMT China Caixin/Markit
PMIs Services and Composite for October