Forex news for Asia trading Friday 20 May 2016
- RBA's Edwards in WSJ interview - Chatter over lower inflation target "wildly premature"
- Australia - PEFO out now
- US Lew & EU Dijsselbloem - comments on Greece
- China house prices ... panic buying ... echoes of the stockmarket boom and bust last year
- NZ April credit card spending: +2.5% m/m (prior -1.4%, revised from -1.1%)
- More on Canadian PM Trudeau's $30 billion budget gap figure not hard limit
- Westpac on the AUD: Fed officials should keep AUD under pressure
- PBOC sets USD/CNY mid-point today at 6.5510 (vs. yesterday at 6.5531)
- China moves - new PBOC dep gov. named & CBRC vice chair resigns
- Federal Reserve rate hike coming ... July a stronger bet than June says NAB
- BNP Paribas on oil: "Markets have moved too high, too far, too soon"
- BoA / Merril Lynch channel Bill & Ted for their AUD forecast
- NZ April migration data (& Deutsche comments on RBNZ)
- AUD and NZD orderboards
- German economy solid growth path, strong domestic demand, to lose some momentum
- Former RBA head slams current RBA head for succumbing to pressure to cut rates
- Canadian PM Trudeau suggests C$30 billion budget deficit not a hard limit
- Friday's trade ideas thread - 20 May 2016
- Latest Brexit poll (just out) 52% to remain, 41% to leave
- ECB's Coeure says credit easing more important than negative rates
Asia FX can often be quiet ahead of big European &/or US data &/or European &/or US central bank meetings/announcements. And sometimes it can just be quiet. The G7 finance ministers meeting in Japan started today, so maybe that had an impact. Whatever works for ya!
EUR., CHF, GBP all very small ranges.
Yen was little more active, USD/JPY dipping back from 110 in early going,and popping above there toward 110.10 on the approach to the Tokyo fix. Its settling around the figure as I update. Sheesh.
AUD chipped out a small gain, running into resistance around 0.7240 and not doing too much. NZD/USD was a little better, putting on 35-odd points to above 0.6770 before it too found some selling. (Hold the presses! AUD just dribbling off a few ticks on comments hitting wires from RBA's Edwards ... (see bullets above))
Gold and oil both traded up. Supply disruptions cited again for the oil price rise (though why they don't just use the bazillion barrels in storage is beyond me).
Regional equities:
- Nikkei +0.28%
- Shanghai +0.10%
- HK +1.19%
- ASX +0.67%
Still to come: Japan (at the Sendai G7 meeting) Japan's finance minister Aso will meet with US Treasury Secretary Lew. Handbags at 10 paces, gentlemen.
