Forex news for Asia trading Monday 2 October 2017
Monday:
- Trade ideas thread - Monday 2 October 2017
- Monday opens with a lower EUR, Catalan politics the driver - recap
- RBA October monetary policy decision and statement due Tuesday - previews
- CFTC data shows USD "selling was broad based except against the yen"
- Across the board USD gains in early Asia
- China weekend RRR cut - more
- Waiting for the PBOC USD/CNY mid rate? Not today - China on holidays all week
- FX option expiries for Monday 2 October 2017
- BOJ Q3 Tankan - recap and key take aways
- Japan - Nikkei / Markit Manufacturing PMI (September, final): 52.9 (preliminary 52.6)
- The BOJ Tankan also includes an outlook on USD/JPY (109.29 vs. 108.31)
- Australia - Melbourne Institute Inflation Gauge (September) 0.3% m/m (prior 0.1% m/m)
- Bank of Japan Tankan (Q3): Large Manufacturing Index 22 (vs. expected 18)
- Catalan leaders signal they may move toward declaration of independence this week
- Australia - CoreLogic House Prices (September) 0.3% m/m (prior 0.1% m/m)
- Catalan authorities say 90% voted for independence
- Australia - Australian Industry Group Manufacturing PMI (September) 54.2 (prior 59.8)
- Australia risk calendar week ahead - RBA Tuesday & plenty of data to follow
- Australia - CBA / Markit Manufacturing PMI (September) 53.8 (prior 53.5)
- New Zealand - election update
- Spain - Catalan voting update - 'door open to declaration of independence'
- Bank of Japan Q3 Tankan report results due today (preview)
- Head of Catalan regional government says Catalan citizens have won independence right
- Catalonia injury toll now at 844
- Economic data due from Asia today
- Monday morning FX - 2 October 2017 - foreign exchange prices, early indications
Weekend:
- UK's May says her cabinet "is united in the mission of this government"
- Voting underway in Catalonia amid violent scenes
- Video: There are only 3 reasons to make a trade
- Boris Johnson believes May will be gone in a year - report
- Jerome Powell interviewed to be Fed Chairman - report
- China says it cuts RRR for some banks effective 2018
- UK's Johnson says Brexit transition should not last "a second more" than 2 years
- China - September Caixin / Markit Manufacturing PMI: 51. 0 (expected 51.5)
- China (Sep.)Manufacturing PMI 52.4 (exp 51.6, prior 51.7) & Services 55.4 (prior 53.4)
Weekend news impacted on early trade Monday - the Catalan referendum process and result seeing a weaker EUR ... summary (earliest posts first):
Head of Catalan regional government says Catalan citizens have won independence right
Spain - Catalan voting update - 'door open to declaration of independence'
Catalan leaders signal they may move toward declaration of independence this week
EUR/USD traded as low as circa 1.1780 in very early NZ time before retracing nearly its drop by the Tokyo morning and then slid again.
The second slide in EUR/USD was accompanied by more broad USD strength, CHF, GBP, AUD, NZD, CAD and yen all lower against the big dollar. The moves were not large.
The weekend also brought data and news from China:
- China says it cuts RRR for some banks effective 2018
- China weekend RRR cut - more
- China - September Caixin / Markit Manufacturing PMI: 51. 0 (expected 51.5)
- China (Sep.)Manufacturing PMI 52.4 (exp 51.6, prior 51.7) & Services 55.4 (prior 53.4)
China is now closed for the whole week for Golden Week holidays.
There was more data flow from Asia Monday, most notably an improving BOJ Tankan (see bullets above).
Gold has lost a few dollars on the opening session for the week.
