The forex trading headlines for Asia Wednesday 11 December 2013
- Fonterra cuts dividend payout, milk price unchanged
- US budget deal: Ryan says agreement ensures no government shutdown in January, October 2014
- Australian Treasurer Hockey: Government debt is expected to blow out to more than $500 billion
- Australia – Westpac Consumer Confidence (seasonally adjusted) for December falls 4.8% to 105 and more here
- Japan Domestic CGPI for November: +0.1% m/m (vs. expected 0.1%)
- Japan October Machine Orders: +0.6% m/m (vs. expected +0.7%)
- Trans Pacific Partnership free trade agreement talks end, no deal
- Australia: GM to cease operations in 2017 Job losses could total 45,000 – 50,000 after flow on effects (that estimate is likely very much on the high side) and more here
- Heads-up reminder: Reserve Bank of New Zealand policy meeting on Thursday NZ time
Relatively restrained ranges across the board for the USD, with little movement against the EUR, GBP and CHF.
Yen was a little more active, gaining ground as the Nikkei fell away on the Tokyo Stock Exchange, with USD/JPY down 20-odd points from its quiet morning sideways zone, while EUR/JPY fell a steeper 50-odd points on the session. Other yen crosses moved lower also.
NZD fell late in the Americas session on news that Fonterra was cutting its dividend (see bullets, above), AUD drifted lower through the session, but there was not a great deal of movement. The mid-afternoon (Sydney-time) of General Motors/Holden to close nearly all manufacturing operations by 2017 (see bullets, above) hardly caused a ripple in the currency.
