Forex news for Asia trading Wednesday 15 March 2017
- Japan - Final January Industrial production: -0.4% m/m (prelim -0.8%)
- The hedge fund with a with a one-day horizon (turning in cracking performance)
- More from China Li: China does not hope to use yuan fx rate to support exports
- Oil at $40 is still profitable for US shale says this analyst
- A mountain of bad debt looms over India
- CA on the SNB meeting this week - SNB to cap further upside in EUR/CHF
- Chinese Premier Li Keqiang speaking
- A big day coming in the US - FOMC the focus, but that's not all
- National Australia Bank changes its RBA forecast - says no rate cut this year
- PBOC sets USD/CNY central rate at 6.9115 (vs. yesterday at 6.9118)
- MSNBC Trump tax return story is a bit of a fizzer - oh well, back to the Trumpcare debate
- Australia data - car sales for February down m/m and y/y
- EUR/USD orderboard
- USD/JPY & EUR/JPY orderboards
- AUD and NZD orderboards
- Japan wages - Honda plans monthly base wage hike of 1600 yen
- US Politics heads up: Trump tax returns apparently leaked, to be released 9pm NY time
- Westpac's Evans' outlook for the April RBA meeting
- Australia - Westpac Consumer Confidence Index (March) +0.1% m/m (prior +2.3%)
- Chinese Premier Li Keqiang will speak to the media today when NPC concludes
- Venezuela on OPEC/non-OPEC meeting next week (not what it seems)
- Ratings agencies will like the NZ data today
- Good morning Japan. Errr, via Reuters: Workers likely to get meagre 2017 pay hikes
- Trade ideas thread - Wednesday 15 March 2017
- NZ - Balance of Payments Current Account Q4: NZD -2.335bn (expected -2.425bn)
- There was an explosion at a Canadian synthetic crude oil plant today
- ICYMI: Forexlive Americas forex news wrap: US dollar rallies modestly as data and Fed awaited.
- Economic data due from Asia today - day 1 of the BOJ meeting
Yen crosses were a bit better bid during the session, with USD/JPY up towards 114.90 (but not quite getting there) and other currencies slightly stronger against the USD also.
News flow was light (remarks from Chinese Premier Li - see bullets above - and little else). Data flow too, light.
Australian and New Zealand dollars both ticked more or less steadily higher, but the extent of the moves was only small (better against the yen given the higher USD/JPY). NZ Q4 current account data improved, as did Australian consumer confidence (by a tiny margin). EUR and CHF, too, slightly higher and GBP too. There was little specific to impact on these currencies at all.
It's a big data dump day coming up in the US, but of more significance will be the later Federal Open Market Committee announcement along with projections for the economy and rates and Yellen's presser.
And, election day in The Netherlands.
Regional equities:
- Nikkei -0.32%
- Shanghai +0.08%
- HK -0.05%
- ASX +0.14%
