Forex news for Asia trading Friday 17 June 2016
- Want a loan? Web-based China lenders demand nude pics as guarantee
- Morgan Stanley guide to how FX markets may respond on Brexit referendum date
- Japan's MoF Asakawa: BOJ, MoF, FSA share view FX volatility is rising
- PBOC sets USD/CNY central rate at 6.5795 (vs. yesterday at 6.5739)
- Brexit campaigning to be suspended Friday on both sides
- NZ data - ANZ's Consumer Confidence Index June: +2.3% m/m (prior -3.2%)
- USD/JPY intervention hints - and here's a guide to all those acronyms
- Japan economy minister Ishihara: Japan economy exiting deflation
- Japan finance minister Aso: No comment on FX levels
- Japan government monthly eco report - 'moderate' recovery, CPI slower
- Fitch says Australian banks' capital positions strengthening & better than you think
- BoA/ML survey of fund managers shows cash holdings highest since Nov. 2001
- New Zealand - Business NZ manufacturing PMI for May: 57.1 (prior 56.5)
- NZ - ANZ Job advertisements for May: +0.2% m/m (previous was +1.7%)
- "Japan faces high hurdle to yen intervention"
- Trade ideas thread for Friday 17 June 2016
- S&P issues US, Eurozone growth forecasts for 2016, 2017
After the terribly tragic news out of the UK overnight and subsequent market gyrations it was relatively subdued in Asia FX today.
An announcement from Japan that a time had been scheduled for a meeting between the FSA, MoF and BOJ (Financial Services Authority, Ministry of Finance and Bank of Japan) was enough to see some covering of yen longs, with USD/JPY moving up from around 104.40 to just above 104.80. Various yen crosses gained alongside the USD/JPY and the move coincided with higher for EUR & GBP (notably, but others had some movement also) against the USD. 40 year JGBs hit another record low yield today.
As I update USD/JPY is trading back down towards session lows.
USD/CHF remains barely changed, as is NZD/USD. AUD has managed to perform a little better, though.
Apart from the Japan 'news' (very little came from the meeting, just a few anodyne comments from the MoF) there were few other notable developments. We got data from NZ, none of which had much impact.
Regional equities:
- Nikkei +1.63%
- Shanghai +0.69%
- HK +0.81%
- ASX +0.13%
