Forex news for Asia trading Tuesday 2 May 2017
- Greece: EU and IMF conclude agreement on bailout reforms
- China press: PBOC official says should deleverage economy at proper pace
- China's manufacturing PMIs not the only ones to dip this month - weaker across Asia
- China - Caixin manufacturing PMI for April: 50.3 (expected 51.3)
- Quickie RBA previews from 7 banks
- PBOC sets USD/CNY central rate 6.8956 (yesterday was a holiday, Friday's was 6.8931)
- US President Trump to speak by phone with Russian President Putin 1630GMT
- AUD and NZD orderboards
- Japan April Services PMI 52.2 (prior 52.9) & Composite 52.6 (prior 52.9 also)
- EUR/USD orderboard
- USD/JPY & EUR/JPY orders
- BOJ Governor Kuroda - full text
- BOJ March meeting minutes
- Japan's Monetary Base (April) 19.8% vs. 21.2% forecast
- Heads up for NZD traders - its Dairy auction day! (GlobalDairyTrade)
- Australia - ANZ-Roy Morgan weekly consumer confidence: 111.3 (prior 111.2)
- Japanese companies forecast the USD/JPY exchange rate
- USD/JPY on the move in the 'twilight zone'
- RBA preview: "Certain to hold rates steady"
- For the global economy it doesn’t get any better than this (it gets worse)
- Australia - Likely boost to infrastructure spending another reason for RBA on hold
- Australia - RBA announcement due today, here is a preview
- ICYMI - Australian commodity price index data (bigly!)
- Trade ideas thread - Tuesday 2 May 2017
- Economic data due from Asia today - & its RBA meeting day
ICYMI:
- A snapshot of the strongest and weakest currencies near the close of the day.
- ForexLive Americas FX news wrap: Data disappoints but dollar doesn't
We got a stack of manufacturing PMIs from Asia today (following the weaker official China manufacturing PMIs over the weekend). In general, results were weaker (see bullets above for more detail). Despite the weaker data though, Asian stocks were overall resilient, and metals were generally higher also.
Cable was a solid gainer for the session (as I update), up from a late US low under 1.2880 (briefly) to back above 1.2900 and towards 10. AUD/USD has managed to post a gain also, ahead of the RBA announcement (May monetary policy meeting) due at 0430GMT:
- RBA preview: "Certain to hold rates steady"
- Australia - Likely boost to infrastructure spending another reason for RBA on hold
- Australia - RBA announcement due today, here is a preview
- Quickie RBA previews from 7 banks
NZD/USD is up a little, and the CAD has been no relative slouch, USD/CAD under 1.3365 (the range has been small here).
USD/JPY has spent the session in a very narrow range; it edged higher in pre-Tokyo trade but has so far not pierced 112. Yen crosses are generally a touch stronger also. BOJ March meeting minutes and Governor Kuroda's speech passed barely noticed.
EUR/USD, too, a small tic higher, back over 1.0900 and a few points up from there. USD/CHF, meanwhile, is barely changed for the session.
Gold and oil, little change.
Regional equities:
- Nikkei +0.70%
- Shanghai -0.29%
- HK +0.26%
- ASX -0.60%
Still to come:
- Stick this in your diary (or anywhere else you prefer): US President Trump to speak by phone with Russian President Putin on Tuesday, 1630GMT
- Heads up for NZD traders - its Dairy auction day! (GlobalDairyTrade)
