Forex news for Asia trading Thursday 16 June 2016
- BOJ "struck a moderately confident tone on domestic trends"
- RBA's Kent: Depreciating AUD could be a buffer for negative events
- BOJ announcement - unchanged policy
- Waiting for the BOJ - yen goin' nuts
- Japan chief cabinet secretary Suga: Sudden moves in FX markets are undesirable
- Australia Employment Change: +17.9K (expected +15K)
- I don't know how many more reasons you need to drink beer, but here's another
- PBOC sets USD/CNY mid-point today at 6.5739 (vs. yesterday at 6.6001)
- More from BoC's Poloz: Standing ready for Brexit vote mkt volatility
- BOC's Poloz - Interest rates going to be lower for a very long time
- BoC's Poloz on the wires - comments on economy, oil and more
- NZ Q1 GDP +0.7% q/q (expected +0.5%, prior +0.9%)
- Poll shows US Primary Dealers lowering their expectations for Fed rate hikes
- New Zealand finance minister English: Lower NZD would bring inflation back into economy
- New Zealand fin min English: Sees 'reasonable' investment, job creation
- Trade ideas thread - Thursday 16 June 2016
- Goldman Sachs on Brexit - If it happens GBP could fall by 11%
'Mini me, day from the BOJ, with an unchanged policy announcement out of Tokyo following on from the Fed's no change decision on Wednesday US time.
The yen had started moving higher prior to the announcement hitting, whether that was just illiquidity playing out or a bit of a leak, who knows.
Once the decision did hit, though, USD/Yen dropped another 100 points or so, the Nikkei lower also.
As I update USD/JPY has stabilised, but little in the way of a bounce really, Nikkei futures are trying to turning slightly better.
Still to come - Bank ofJapan, head Kuroda press conference due at 0630GMT.
Apart from the Bank of Japan today we got NZ Q1 GDp, which surprised to beat expectations. New Zealand economy, not dead yet. NZD traded higher on the beat and is around session highs as I update.
Aussie employment data also today, with the headline beating expectations but the details on the soft side really. All of the gain was in part-time employment and a look at 'trend' employment growth indicates a flattening pace of growth. The unemployment rate came in unchanged on the month.
AUD/USD popped momentarily and subsequently lost some steam, its not far above session lows as I write.
EUR, CHF and GBP all relatively uneventful. Oil is barely changed on the session. Gold ground out a bit of a gain.
We heard remarks from Bank of Canada Governor Poloz earlier, USD/CAD is up on session highs as I update now.
Regional equities:
- Nikkei -2.08%
- HK -1.79%
- ASX +0.34%
