Forex news for Asia trading Wednesday 20 April 2016
- Bank of America Merrill Lynch on EMs: The time for bearishness is over
- Japan chief cabinet secretary Suga: Still intend sales tax hike in April 2017
- Clinton and Trump the winners in New York primaries
- PBOC chief economist on high loan growth rate in Q1
- PBOC sets yuan reference rate for today at 6.4579(vs. yesterday at 6.4700)
- BOJ's Kuroda still going (we should ask Mrs. Kuroda if this guy talks in his sleep too)
- UBS Chairman Weber warns ECB & BOJ have reached the limits of monetary stimulus
- Australia: Westpac Leading Index (March): -0.12% m/m (prior -0.15%)
- Bank of Japan's Kuroda: price trend improving, economy moderate recovery
- Japan March Trade Balance Y755bn (expected Y834.6bn, prior Y242.2bn)
- Moodys says Australian economy will stay resilient, but subdued
- BHP cuts Western Australia iron ore guidance
- Kuwait oil strike over - more now
- PIMCO’s Asset Allocation Views: Remain Slightly Overweight Risk Amid Steady Global Growth
- News crossing the Kuwait oil strike may have ended
- After Doha failed, this is the country driving oil prices
- Trade ideas thread - Wednesday 20 April 2016
- Oil - American Petroleum Institute (API) data - Inventory build 3.1mln barrels
- Intel to cut 12,000 jobs
News that the Kuwait oil strike was over kicked us off today, which saw oil prices drop and USD/CAD edge a little higher in the early going.
The FX session was characterised by USD/JPY dribbling lower, taking yen crosses with it to varying extents. AUD and NZD were at the weaker end of the spectrum, dropping back 30 and 40 odd points respectively. NZD was weighed on a little by news that NZ Finance Minister English was stepping up scrutiny on the RBNZ (the bank has been missing on inflation target for quite a long time now ... more here on the news, though).
EUR, CHF and GBP all did a little better (against the USD) than AUd and NZD, though ranges were not large.
The PBOC injected (250bn yuan) today at its daily Open Market operations, the largest injection since February 26.
Gold moved higher and is mid-range as I update.
Regional equities:
- Nikkei +0.61%
- Shanghai -2.26%
- HK -1.09%
- ASX +0.29%
More:
