The forex trading headlines for Asia trading today: Friday August 23, 2013.
A day nearly empty of data releases, but plenty of comments & news on the wires:
- Chinese foreign direct investment for January – July is +7.1% (prior 4.9%), while the yearly change comes in at +24.1% y/y (14% expected and 20.1% prior)
- US Treasury Secretary Lew: US cannot afford a repeat of 2011 debt ceiling debate – & more
- Air New Zealand says 180 jobs set to go
- Reports that the US and Australia have delayed talks with Japan on the TPP
- Bank of Israel former head Fischer: Says need to get back to more normal monetary policy
- Shanghai Securities News reports that the State Information Center expects industrial production growth to lessen in the second half of this year
- The ECB’s Nowotny said good economic news removes need for rate cut
- Singapore’s finance minister Shanmugaratnam said Fed tapering is not unexpected, not a bad thing for ASEAN
- Australian election polling is very inconsistent
- Free trade zone approved by China for Shanghai and more
- Brazil central bank launches $60 bln currency intervention program
- Israeli military bombs a Lebanese target in retaliation for Thursday’s rocket attack
- Official agenda for the Jackson Hole symposium this Friday and Saturday
EUR, CHF and GBP all put in quiet sideways sessions today in Asia, with the activity elsewhere.
Most notably, USD/JPY chewed through the offers that had held it to highs below 98.80 in the European and American sessions, only to encounter heavy offers again ahead of 99.00 (barrier option interest cited). These eventually gave way, and trading stops-loss buys were triggered, but the gains stopped cold at 99.10. USD/JPY drifting back below 99.
AUD and NZD were both range bound with 0.7850/55 and 0.9035/40 capping them respectively, while the kiw found bids under 0.7820 and AUD under 0.9005.
