Forex news for Asia trading Tuesday 11 April 2017
- BOJ's Kuroda: Level of rates, size of B/S will be topic for exit strategy
- Moody's: Australia, Canada, NZ & Sweden sovereign credit profiles resilient
- Tokyo midday update ... USD up, but patchy. NZD getting dragged off the plane.
- BOLO for China financing data this week
- Australia employment report due Thursday - preview
- Australia - NAB (March) Business Conditions 14 (prior 9), Confidence 6 (prior 7)
- Heads up AUD traders - March business conditions, confidence due bottom of the hour
- PBOC sets USD/CNY central rate at 6.8957 (vs. yesterday at 6.9042)
- BOJ's Kuroda: Japan out of the deflationary situation of falling prices
- USD/JPY & EUR/JPY orders
- EUR/USD orderboard
- AUD and NZD orderboards
- Events coming up in Asia today - add Kuroda to the list
- WSJ on Yellen:"indicates era of extremely stimulative monetary policy is coming to an end"
- Australia - Weekly Consumer Confidence: 114.8 (prior 111.1)
- Brexit - UK data: BRC Sales (like-for-like, March): -1.0% y/y (expected -0.3%)
- NZ data - March Retail Card Spending -0.3% m/m (expected +0.5%)
- USD/JPY extending on US session lows
- ICYMI - Recap of Janet Yellen's comments today
- PIMCO has become less bullish USD, still like it but not a major core strong view
- US stocks news - SEC targets fake stock news on financial websites
- Australia employment report coming up on Thursday - sneak preview
- Trade ideas thread - Tuesday 11 April 2017
- Economic data due from Asia today
- US dollar wobbles on Yellen but moves small so far
- US stocks end little changed
- Fed's Yellen: US economy is 'pretty healthy'
Yep, I recycled yesterday's title! Today the yen managed to strengthen against the USD while most others weakened.
USD/JPY dropped away from (very) early Tokyo, under 110.80 to extend its losses from the US session, but follow-through was limited. USD/JPY consolidated its losses under 110.80 as Tokyo became more active and as I update its trading just above 110.60, near session lows. We did get some remarks reported from Bank of Japan Governor Kuroda, who was appearing in parliament again today, but these were not too big a driver.
Elsewhere, NZD/USD takes the prize as a big loser, from highs circa 0.6965 it dipped toward 0.6940 and is just under 0.6950 as I write. Card spending data came in very weak today, which may have helped cap NZD.
AUD/USD weakened a little, from highs circa 0.7510; its under 0.7500 as I update. We got an excellent result on the NAB Business Conditions Index (for March) released today (some weak spots, retail notably), at a high since February of 2008. Business Confidence, though, eased lower a point on the month. Net good for the AUD, right? You'd think so, but AUD/USD has lost ground since the release. Not much, as you can see from the range I've just described.
EUR/USD drifted a little lower (20 or so point range), USD/CHF edged back to its latre US high while GBP has managed to make like the yen and grind out a gain (small) against the big dollar.
Janet Yellen spoke late NY time (from 4.10pm), pretty much reiterating the view that we're on a tightening and balance sheet reduction path, economic performance permitting (see bullets above).
Gold is little changed on the session, oil a few cents to the better, not much in it.
Regional equities:
- Nikkei -0.57%
- Shanghai -0.46%
- HK -0.79%
- ASX +0.47%
Still to come ... just highlighting Australian and China data due this week:
- From China ... BOLO for China financing data this week, and inflation data tomorrow (and more later in the week)
- Australia employment report due Thursday - preview
- Australia employment report coming up on Thursday - sneak preview
