Forex news for Asia trading Tuesday 11 July 2017
- Fed's Williams in Q&A session - US economy is strong
- Fitch: Cyclical Pressure on APAC Banks Easing; High Debt a Risk
- Goldman Sachs on oil price - "Still Searching for the Equilibrium"
- China vehicle sales (June) +4.6% y/y
- Japan earthquake - Kagoshima
- Moody's says "weak liquidity is still a concern" (Asian Liquidity Stress Index)
- China data coming up this week
- Australian home loan data - Westpac analysis
- Australia - National Australia Bank business conditions 15 (prior 12) & confidence 9 (prior 7)
- Australia data for May Home loans: +1.0% m/m (vs. expected +1.5%)
- Australian data due at the bottom of the hour - business conditions, confidence + more
- PBOC sets USD/CNY central rate at 6.7983 (vs. yesterday at 6.7964)
- What does Trump's new appointee to the Federal Reserve think on monetary policy?
- USD/JPY higher in the Tokyo morning
- Heaps of central bank speakers coming up today (Tuesday)
- Here is some Japan eco data ICYMI (the one that hit its highest for the year)
- Australia data - ANZ-Roy Morgan weekly consumer confidence 113.0 (vs. prior 114.5)
- Goldman Sachs says no Bank of Canada rate hike this week, here's an alternative view
- More UK data: Barclaycard says y/y consumer spending growth slowed to a 15-month low
- US media reports on Trump's first appointment to the Fed - Randy Quarles
- UK - BRC like-for-like sales for June: +1.2% y/y (vs. expected +0.5% y/y)
- New Zealand Retail Card spending for June: 0% m/m vs. expected +0.8%)
- Goldman Sachs say the MXN has more room to run
- SG on the USD ... 'somewhat soggy'. And also ... USTs undermining the yen
- FX strategy thoughts from NAB - all in one tweet
- Here is some inflation at the RBA - they've found a 3rd 'mandate'
- PIMCo on the RBA - high bar to any move
- ICYMI: Forexlive Americas FX news wrap: Lackluster session. Slow start to the week.
- Japan press: "Yen seen sliding ..."
- Australia - housing finance date due today also a focus
- Australia - business survey coming up today will be a focus
- Trade ideas thread - Tuesday 11 July 2017
- Economic data due from Asia today
Small ranges again today in Asia FX. We got plenty of data today,
- NZ card spending,
- UK retail spending data,
- Australian weekly consumer sentiment, business conditions and confidence and housing finance
Details on all these in the bullets, above.
- We also had some comments from San Fran Federal Reserve head John Williams
- And a resumption of open market operations from the People's Bank of China after a 12 business day hiatus.
Despite all this, the FX was subdued.
USD/JPY traded higher earlier, testing again above 114.20 and once again not exceeding the levels there. As I update, though, we are still around these recent highs and they do look vulnerable.
AUD/USD, too, traded a little higher, edging up a few ticks only. NZD/USD was a loser on the session, AUD/NZD buyers not helping the kiwi; its not far from its day's lows as I update.
EUR and CHF both drifted small lower against the USD while cable is little net changed. USD/CAD has managed a few tics higher only.
Again, very small ranges here today.
Regional equities:
- Nikkei +0.44%
- Shanghai -0.18%
- HK +1.12%
- ASX -0.06%
