FxWirePro: 8th February Key updates

Here are some key updates that as a trader you need to keep a tab on.

• Speaking earlier, St. Louis Fed President James Bullard delivered dovish comments on rates suggesting that he considers the current level of interest rate somewhat restrictive as inflation remains subdued.
• Good news for the Australian dollar and the economy that the Iron ore price continues to climb amid concerns over supply crunch rising from Brazil’s dam burst that killed almost 300 people and killed Vale’s production in the mine, https://www.wsj.com/articles/iron-ore-prices-jump-to-highest-level-since-2014-on-vale-concerns-11549562850 Price jumped to $88 as Vale concern intensifies. Price is up more than 40 percent since July 2018.
• However, the Reserve Bank of Australia (RBA) pushed the Aussie down with its dovish quarterly monetary policy statement. Aussie is currently at 0.708 against the USD. RBA lowered GDP forecast significantly from 3.25 percent to 2.5 percent for the 2nd quarter of 2019.
• South Korea’s major news agency reports that the United States has asked North Korea to dismantle all missiles before further progress. President Trump would meet North Korean leader Kim Jong-Un in Vietnam at the end of the month.
• Tensions are mounting between China and the United States despite the sweet talks as President Trump reportedly set to ban Chinese telecom giant Huawei from U.S. wireless network.
• On Brexit - after meeting with EU Commission chief Jean Claude Juncker, Prime Minister May has returned to the UK and set to persuade his party members as well as Labour Party MPs for support in reaching an agreement with EU.
• Japan economic data - Household spending up 0.1 percent y/y in December (expected 0.8 percent).  December Labor cash earnings: 1.8% y/y (expected 1.7%). Current account balance, December: ¥ 452.8bn (expected ¥ 469.3bn)