Forex news for Asia trading Thursday 19 May 2016
- Banks say that China's debt binge is far from over
- Australian jobs report - analyst response
- Here's the daily dose of Japan sales tax blather
- MNI China (May) Business Sentiment Indicator -0.9% m/m
- Moody's lowers its 2016 growth forecast for the US to 2% (from 2.3%)
- Australian Employment Change for April: +10.8K (expected 12K, prior 26.1K)
- People’s Bank of China sets yuan reference rate at 6.5531 (vs. yesterday at 6.5216)
- New Zealand: ANZ Consumer Confidence Index (May): -3.2% m/m (prior +1.7%)
- More on Japan's machinery orders data - companies expect orders to decline
- Templeton on the AUD - looking for lower, but not by much
- Japan - March machine orders: +5.5% m/m (expected -2.0%)
- Kuroda gets the day off, sends his minions to parliament instead
- Macquarie bank tip the Reserve Bank of Australia to cut rates to 1%
- Canada Alberta fires impact: US$760m oil sands production has been lost
- Saudi Arabia’s crude oil stockpiles at the lowest level in 18 months
- CitiFX with technical levels for EUR/USD - support and resistance
- Thursday trade ideas corner - 19 May 2016
After good-sized post-FOMC moves in the NY afternoon we had some consolidation and much smaller ranges here in Asia today.
USD/JPY and yen crosses fell in the late Tokyo morning; USD/JPY from above 110.20 to under 109.90 for a 20-odd point range.
EUR/USD edged its way a little higher from US lows, putting on about 15 points or so. USD/CHF has a similarly small range, backing off slightly from its highs. Cbel dribbled small lower.
AUD was a little more active, it had the April employment report as a focus and then catalyst. The data showed slow gains again for employment (part time gains, full time losses), a stable unemployment rate (if you added in enough decimal places there was a tiny fall in u/e) and falling hours worked. AUD fell a few points initially, finding buyers around 0.7200 before coming back and then quietly sliding 10 or so points to be around 0.7216 as I update.
NZD had some early gains towards 0.6760 (Buying of NZD against the AUD a driver of the small move) before giving some back and being around mid-range at 0.6738 or so as I update.
Gold is very little changed, oil is a wee bit heavier. USD/CAD continued to edge higher in Asia, but as per other FX the range was not large.
Regional equities:
- Nikkei -0.06%
- Shanghai +0.42%
- HK -0.53%
- ASX -0.82%
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