Forex news for Asia trading Tuesday 14 June 2016
- Coming up on Tuesday US time - Will MSCI announce inclusion for China shares?
- Deutsche Bank on the BOJ meeting this week - further easing unlikely
- China economy: Power consumption up 2.1% y/y, Investment up 78bn yuan in May
- Australia - (May) NAB Business Conditions 10 (prior 9) & Confidence 3 (prior 5)
- People’s Bank of China sets yuan reference rate at 6.5791 (vs. yesterday at 6.5805)
- Japan finance minister Aso commenting on wires (the usual)
- USD/JPY & EUR/JPY orderboard
- EUR/USD orderboard
- Just waking up? Here are the latest Brexit poll results all in one place
- AUD and NZD orderboards
- New Zealand - Food Price Index for May -0.5% m/m (prior 0.3%)
- If the RBA want to cut rates further, this should lower a hurdle
- Brexit - Here's the front page of the UK's 'The Sun' - urging a 'leave' vote
- Here's the next Brexit poll result: YouGov's: Leave 46% Remain 39%
- Brexit - ORB poll: 48% remain, 49% leave
- Trade ideas thread Tuesday 14 June 2016
- Templeton's Hasenstab says USTs not as safe as assumed
Yep, late NY/early Asia saw the release of two more Brexit polls (see bullets above), pushing GBP up initially and then down again, swingin 150 or so points in just minutes. Meanwhile, The Sun (UK newspaper) came out with front-page editorial support for a 'leave' vote.
Here's a screenshot I took at the time (from the free ForexLive charting app):
News flow dried up for GBP and it drifted a little lower over subsequent hours.
Around the open for Tokyo the yen moved lower (USD/JPY and yen crosses up) but the move was not sustained. USD/JPY fell back to US timezone lows and has traded sideways around there since. The Nikkei meanwhile opened weak and got weaker.
AUD/USD is more or less unchanged after a small pop wasn't maintained, and NZD/USD is down on the session. Data from Australia today showed continuing strong business conditions, tracking well above longer term average.
Regional equities:
- Nikkei -1.46%
- Shanghai -0.25%
- HK -0.27%
- ASX -2.06%
