Forex news for Asia trading Monday 18 July 2016
Monday
- UK press: Why Italy's banking crisis will shake the eurozone to its core
- Japan's Softbank nears agreement to purchase UK's ARM for £23bn
- Morgan Stanley have cut their forecast for Chinese GDP in 2016 and 2017
- Cyclist plummets down the side of a mountain (maybe it's the NZD)
- China June home prices +7.3% y/y
- People’s Bank of China sets yuan reference rate at 6.6961 (vs. Friday at 6.6805)
- More details on Japan's Suga pledge ruling out deficit bonds
- Brexit fallout - BoE's Weale to speak Monday in London
- UK data - Rightmove house prices for July: -0.9 % m/m (prior 0.8%)
- New Zealand Q2 CPI: 0.4 % q/q (expected 0.5%)
- New Zealand Services PMI (June): 56.7 (prior 56.9)
- Trade ideas thread - Monday 18 July 2016
- Japan chief cabinet secretary Suga: BOJ has options for further easing
- Turkish central bank says "will provide banks with needed liquidity without limits"
- NZD traders - Q2 inflation report due soon (at 2245GMT)
- Turkish Lira bounces as trading starts for the week
- Goldman Sachs : Turkish political risk to have implications for the economy
- UK press - 12 Free trade deals so the Brexit can happen on January 1, 2019
- Monday morning FX - 18 July 2016, foreign exchange prices, early indications
Weekend
- This will be the chart to watch at the market open
- Energy minister says Saudi Arabia will always react to supply and demand forces
- Three police officers killed in Baton Rouge, three others injured
- BOE's Vliegh says there should be an immediate rate cut and further measures
- “Thin slicing” forex trading analysis
- The New Zealand real estate super-bubble is still just heating up
- Oil - Turkey has reopened Istanbul's Bosphorus Strait to transiting tankers
- NZD traders heads up - Official Q2 Inflation data due first thing new week
- Accept secular stagnation and plan accordingly
- Turkish parliament building surrounded by tanks
With news of the failure of the Turkish coup filtering in over the weekend markets opened more steadily on Monday in Asia. Late US sell offs in 'risk' were pretty much unwound either on the open or soon thereafter.
USD/JPY gained to circa 106 before dropping back to trade 105.50/75 for much of the session. It was a Japanese holiday Monday today (Marine Day), which thinned trading somewhat.
EUR/USD recovered, while cable got itself above 1.3250 before settling under there.
Gold lost a few dollars, under 1325 very briefly and has since settled just under 1330USD. Oil gave back its last hour surge on Friday.
NZD fell yet again; we had Q2 CPI coming in under expectations and core inflation still very, very weak. The fuelled further speculation of an RBNZ rate cut at the next monetary policy meeting.
The People's Bank of China set the reference rate for the CNY at its lowest since October of 2010 today.
Also - take note of the Softbank / ARM takeover and associated GBP/JPY flows (see bullets above).
Regional equities:
- Nikkei +0.68%
- Shanghai -0.11%
- HK +0.20%
- ASX +0.51%
