Forex news for Asia trading Tuesday 1 August 2017
- Discord at the White House sends USDJPY to test 110
- NZ Q2 Employment report due Tuesday 2245GMT (Wed morning NZ time) - previews
- Preliminary Q2 GDP for Eurozone due at 0900GMT - here's a preview (or 3)
- AUD/USD still on the rise - RBA due at 0430GMT - preview
- China - Caixin Manufacturing PMI for July: 51.1 (expected 50.4)
- ICYMI: China asks huge insurer to sell overseas assets, bring proceeds back
- PBOC sets USD/CNY central rate at 6.7148 (yesterday's mid rate was 6.7283)
- Heads up for NZD traders - Dairy auction due today (London time)
- China press on coal, steel reforms - "will help cut overcapacity and boost prices"
- Morgan Stanley BoE preview & FX strategy
- Japan - Nikkei / Markit manufacturing PMI (final, July): 52.1 (prelim was 52.2)
- AUD/USD pops to a fresh high - weak USD, solid Aussie data
- Australia - CoreLogic house prices (July): +1.5% m/m (prior +1.8%)
- Australia -AIG Manufacturing PMI for July: 56.0 (prior was 55.0)
- Australia - ANZ Roy Morgan weekly Consumer Sentiment: 118.4 (prior 115.1)
- French President Macron leaked emails include one from an FX broker
- ECB (& head of the BUBA) Weidmann: EMU in need of rfeorm
- Australia data - CBA / Markit PMI 54.4 (prior 56.2)
- The RBA Could Talk-Down AUD At Its August Statement - NAB
- More on : Trump studying executive action on healthcare - senator Rand Paul
- New Zealand politics - Opposition leader resigns
- Meanwhile, this from Reuters: "North Korea can hit most of United States"
- Japan press: Q2 GDP on track for 2.6% annual pace
- Republican Senator Rand Paul - Trump considering executive action on healthcare
- HSBC on the AUD risk over today's RBA announcement - how it "could fall sharply"
- Trading the RBA announcement due today - preview (infographic style!)
- Trade ideas thread - Tuesday 1 August 2017
- Economic data due from Asia today - RBA day
The Australian dollar was an outperformer in Australia today ahead of the Reserve Bank of Australia August monetary policy meeting announcement and statement. Its due at 0430GMT but that didn't faze the AUD; AUD/USD popped to circa 0.8040.
There was plenty in its favour today:
- Better consumer sentiment data
- Strong manufacturing PMI data from Australia
- And strong manufacturing PMI data from China
- A surging iron ore price overnight
- Political chaos in the White House weighing on the USD
Over to the RBA now, previews if you are after them:
- HSBC on the AUD risk over today's RBA announcement - how it "could fall sharply"
- Trading the RBA announcement due today - preview (infographic style!)
- The RBA Could Talk-Down AUD At Its August Statement - NAB
- AUD traders note, the RBA meet Tuesday. Here are a couple of quickie previews
- AUD - RBA preview. SOMP follows on Friday - preview also
Elsewhere in forexland in Asia today, USD/JPY was also a bit of a mover. It fell down to circa 110.00 after holding around 110.30 or so for the first part of the morning. The only data was the final PMI which is generally not much of an immediate FX mover
EUR/USD, USD/CHF are both little changed. Cable has edged up a few tics net on the session as has NZD/USD. CAD has lost a few tics, USD/CAD a little higher.
Regional equities:
- Nikkei +0.27%
- Shanghai +0.41%
- HK +0.76%
- ASX +0.69%
Still to come:
- Preliminary Q2 GDP for Eurozone due at 0900GMT - here's a preview (or 3)
- Heads up for NZD traders - Dairy auction due today (London time)
- NZ Q2 Employment report due Tuesday 2245GMT (Wed morning NZ time) - previews
