Forex news for Asia trading Friday 16 December 2016
- More talk of BOJ tightening (yes, you read that right) doing the rounds
- Australia budget update due Monday - what to expect
- PBOC sets USD/CNY mid-point today at 6.9508 (vs. yesterday at 6.9289)
- Singapore exports beat - big rise in shipments to EU & China
- On EUR/USD: Momentum strongly in favour of the USD - anticipate towards parity
- NZ data - ANZ Consumer Confidence Index (Dec.): -2.1% m/m (prior +3.5%)
- Australia - here's what happens if the AAA rating is cut
- China press: Fed rate hike raises yuan fall pressure
- Australia budget update coming on Monday - why its an important one
- Trade ideas thread - Friday 16 December 2016
- Draghi: Brexit bad for all in medium term, worse for UK
- Reuters: Italy prepared to pump 15 billion euros into ailing banks - sources
Not a lot to report from the Asian timezone in terms for forex movement. Europe and the US had a very active session but it all fizzled out in Asia with a few smaller swings only.
USD/JPY had a bit of a wiggle, up to around 118.40 pre-fix in Tokyo, down to around 118.00 after that and then sitting around 118.20 as I update.
EUR/USD ticked up a few points (USD/CHF dripped down a few points) - the conclusion of the EU summit (or whatever this one was called) didn't get much market attention. Cable slipped a few points back under 1.2400 but is straddling there as I update.
AUD and NZD, not too much at all, AUD/USD is little net changed while NZD/USD is a few points softer on the session.
The PBOC set USD/CNY at its highest since May of 2008, following along with the stronger USD. The Bank was generous with liquidity, sending overnight yuan HIBOR a little lower in HK (from yesterday's mini-spike) and conducting medium-term lending facility operations later in the Chinese morning.
Gold inched back a few dollars to the better; oil up a little on the session also.
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