Forex news for Asia trading Wednesday 11 February 2015
- New Zealand - REINZ house price index -1.0% in January, prior was also -1.0%
- Aussie stockbroker sees Australian dollar at 68 cents
- China - Goldman Sachs looking for big RRR cuts this year
- ANZ joins in, lowering its iron ore price forecasts
- People’s Bank of China (PBOC) sets yuan reference rate at 6.1315 (vs. prior close 6.2416)
- Market holiday in Japan today
- Australia data - Home loans: +2.7% m/m (vs. expected +2.0%)
- Australia data - Westpac consumer confidence: +8.0% (prior +2.4%)
- New Zealand January card spending, retail in well under expectations
Thinned liquidity in the markets today due to a holiday in Japan, which may have contributed a little to some of the wiggles we had.
AUD and New Zealand both gained against the USD ... some better data out of Australia was cited. NZD bumped up against some resistance around 0.7440/50 (and AUD ahead of 0.7800) and both are a little lower as I write now.
EUR/USD and cable edged a little higher in the morning going, but both have given back much of their gains (cable more so). The CHf followed a similar sort of pattern, with EUR/CHF mainly sideways just below 1.0495.
Oil had an upmove after the late US data from the API but after a small stabilsation it spent the balance of the session drifting back.
USD/JPY gained some ground from late US trading, albeit not a huge range, up above 119.60 as i update.
