Forex news for Asia trading Tuesday 12 April 2016
- Gold - technical analysis (Elliot Wave)
- What has BOJ head Kuroda got left in his bag of tricks?
- China news - tax reforms & crackdown on underground banks
- Fitch comments - Large yuan fall not expected, China hard landing not expected
- Japan finance minister Aso: Will act vs. FX moves as needed
- Australia - (Febr.) Credit card balances $A51.9 bn (prior 50.9bn) & purchases 24.8bn (21.9bn)
- Australia - March business confidence 6 (prior 3) & conditions 12 (prior 8)
- PBOC sets USD/CNY central rate at 6.4616 (vs. yesterday at 6.4649)
- China steel & coal overcapacity cut plans
- Westpac on the NZ house price gains - "problematic for the RBNZ"
- NZ data - REINZ March house sales report: National median price up 10% m/m
- Japanese bank lending up 2% y/y in March
- Australia - Weekly Consumer Sentiment: 112.0 (prior was 113.4)
- Greece, EU, IMF adjourn bailout review talks ... BRB
- BRC March Retail like-for-like sales: -0.7% y/y (vs. +1.4% expected)
- PIMCO on Australia: External headwinds, higher household leverage ... more RBA cuts
- Brexit - Under no circumstances will Britain leave Europe, regardless of referendum result
- Come on over to the Trade Ideas Corner - Tuesday 12 April 2016
- Statement issued after Yellen grants an audience with Obama and Biden
- Overnight press - National Australia Bank warns Australia faces losing AAA rating
- Driving? Want to check your phone for the latest ForexLive post? Please don't.
- Preview: The Bank of Canada decision is all about the growth estimate
The (equal) strongest reading for NAB Australian business conditions data today puts further RBA rate cuts in doubt and provided an immediate boost to the Australian dollar, though it topped out around the overnight high for the session here. NZD/USD went along for the ride, with house price data released there today also providing a note of doubt for further central bank easing. AUD/USD continues to threaten higher.
The yen weakened today, with USD/JPY finding support around 107.90 and tracking higher from there, currently knocking on the door of session highs around 108.25.
EUR, CHF and GBP were not where the activity was.
Gold is down a little after early morning hihgs were rejected here, while oil is little changed.
The PBOC set the yuan a little stronger today against yesterday's mid-point (i.e. lower USD/CNY) but the yuan has weakened in trading today a little.
Regional equities:
- Nikkei +1.19%
- Shanghai -0.65%
- HK +0.23%
- ASX +0.69%
More:
- Alcoa earnings - Alcoa(AA) Sees Slower Global Aluminum Demand as China Use Ebbs
