Forex news for Asia trading Monday 14 November 2016
- Japan September industrial production (final): +0.6% m/m (vs. 0.0% for the preliminary)
- Deutsche Bank calls EUR/USD parity: "The Trump victory has changed things"
- Australia's hidden stimulus boosts economy - Currency lags commodity rebound
- More on NZ earthquakes - flood warning, Stats NZ delays data
- NAB's four key risk events domestically for Australia this week
- More China data - Revenues up, expenditure up even more (don't mention October)
- BOJ's Kuroda covers his ... bases: Possible for BOJ to cut, possible to raise in future
- China - October Industrial Production: 6.1% y/y (expected 6.2%) (plus more data)
- BOJ's Kuroda: Desirable for FX to move in stable manner
- People’s Bank of China sets yuan reference rate at 6.8291 (vs. Friday at 6.8115)
- BOJ's Kuroda: BOJ can continue easy policy, respond flexibly
- Earthquakes continue in New Zealand, M6.2 hits near Christchurch
- USD/JPY pops 107, surges through 107.30 - stops triggered
- Slipping EUR, CHF, GBP, JPY continues
- Japan economy minister Ishihara: Downside risks from China, EM, markets
- Japan - Preliminary Q3 GDP: +0.5% q/q (expected 0.2%, prior 0.2%)
- China official says can keep the yuan basket rate stable
- USD, EUR, JPY, GBP, CAD, AUD, NZD weekly outlook from Morgan Stanley
- Japan Q3 GDP due today, and China October Industrial Production
- New Zealand services PMI for October ... data release delayed due to earthquake
- Trade ideas thread - Monday 14 November 2016
- Weekend news - RBS Chairman says Brexit without transitional deal will damage economy
- New Zealand house prices, REINZ data: Median price +10.9% y/y (Oct.)
- Weekend oil news - Iran opened three new oilfields on Sunday
- Monday morning 14 November 2016 - Forex prices, early indications
Weekend:
- Earthquake of 7.8 magnitude hits New Zealand
- NATO chief says "going it alone" is not an option for Europe or US
- This is a 'reset' moment for the dollar - Goldman Sachs
- Revisiting Tom Basso: How Important is Your Entry in Trading? - Part 2
- US election 2016:Trump says he is open to leaving key parts of Obamacare intact
A day of USD strength (a small amount mainly) across the board, with moves varying across currencies, of course.
USD/JPY was a big outperformer, nibbling away at the sellers ahead of 107 and then blasting through; stops above 107 contributing to the jump to top around 107.50. We got data out of Japan today (Q3 preliminary GDP) which showed beats in all but capex and the deflator. The GDP result was very solid (see bullets above) but inflation still well, well under target.
Data from China today, which was a bit more mixed. Not bad, but some misses on expectations taking the shine off. Meanwhile, the People's Bank of China set the USD/CNY mid-rate at a 7 year high (low for the yuan that is) (strong USD so hardly too surprising).
Other currencies were a little weaker against the USD also today, nothing too large. AUD, though, has been a better performer against the USD, its little changed from its Friday closing levels, while the NZD is hanging in there also (ps. Big earthquake in NZ on Monday morning, NZ time - (see bullets above.)
(Added - US 30-yrs hit their highest yield since January today)
Regional equities:
- Nikkei +1.64%
- Shanghai +0.35%
- HK -1.17%
- ASX -0.72%
- Not equities, but iron ore futures in China higher again today, up 6+%
More (US politics):
- US President-elect Donald Trump has appointed Reince Priebus, chairman of the Republican National Committee (RNC), as his chief of staff. Stephen Bannon, from the Breitbart News Network, will be Trump's chief strategist.
