Forex news for Asia trading Tuesday 15 November 2016
- China: Shenzen announces huge lifts in housing deposit requirements
- AUD traders heads-up - RBA Governor speaking early in the London time zone
- IMF Annual Report on Australia: Says balan ... ahh, stuff it, they're as clueless as ever
- China press - Rate, RRR cut possibility is low
- More on Lacker - Trump fiscal stimulus could cause faster Fed hikes
- Commsec on RBA's next rate move: "Important not to get too far ahead of ourselves"
- PBOC sets USD/CNY central rate at 6.8495 (vs. yesterday at 6.8291)
- RBA Minutes (November meeting): Repeats rising $A could complicate transition
- More from Fed's Williams: Fed focused on its twin goals
- Trump responses - Mexico boosts oversight of banks, SEC Chair to resign
- AUD and NZD leading the pack as Tokyo gets underway
- Fed's Williams on China: Long-run growth prospects may be changing
- NZ earthquake - economic impact assessment
- Goldman Sachs says eco boost from Trump in short-term, but long-term not so positive
- Australia - ANZ weekly consumer confidence: 118.2 (prior was 117.8)
- More from Lacker: Fiscal stimulus translates into faster hiking
- Credit Agricole says the SNB remain active, should keep a floor below EUR/CHF
- Fed's Lacker: More fiscal stimulus would bolster case for raising rates
- WSJ: 'New China data shows mixed economic picture'
- ANZ on the 'Trump tantrum' vs. the 'Taper tantrum'
- Heads up for NZD traders - dairy auction coming up Tuesday
- Trade ideas thread - Tuesday 15 November 2016
EUR/USD traded higher in Asia today, popping above 1.0760 but not following through above 1.0770. Its since drifted back to around 50. There was little in the way of EUR-related news to move the currency, but the strength coincided with better bids for CHF and GBP against the USD. These two have since slid back to be more or less unchanged on the session.
AUD and NZD were bid also, NZD/USD popping 50+ points to over 0.7140 before it too has come off a little to be still up the session, around 0.7110/20 as I update. AUD ground out a small gain and is still slightly higher on the session, We had Minutes from the RBA's November meeting released today. There wasn't much in them to surprise, as the Statement on Monetary Policy was released by the Bank a few days after the November meeting. The Statement is a much more comprehensive document with information and analysis that superseded the meeting.
USD/JPY topped again above 108.40 early in the session and then gave back 60+ points to make it a big mover on the day. Again, little in the way of fresh news for the yen.
The PBOC cranked the USD/CNY to a 7 year high at the central rate fixing today, continuing the weakening of the CNY against the big dollar (hardly surprising given the strength across the board of the USD).
Gold is higher on the session here, as is oil (following its US afternoon move sharply higher off NY lows).
Regional equities:
- Nikkei +0.11%
- Shanghai -0.27%
- HK +0.42%
- ASX -0.45%
Still to come:
- AUD traders heads-up - RBA Governor speaking early in the London time zone (0815GMT)
- Heads up for NZD traders - dairy auction coming up Tuesday
