Forex news for Asia trading Tuesday 22 March 2016
- Japan All Industry Activity Index (January): -0.9 % m/m (expected +1.9%, prior -0.9%)
- Was the RBNZ leak from the most honest person on the planet?
- Moody's 2016 & 2017 G20 GDP forecasts: 2.6% & 2.9%
- Oil prices - ANZ says risk-on is supportive, but a further rally needs more
- Reports some Chinese banks permitted to lower loan loss provisions
- Japan - Nikkei Manufacturing PMI (preliminary - March): 49.1 (expected 50.5)
- China vice fin min: No secret agreement between US & China on exchange rate
- People’s Bank of China (PBOC) sets yuan reference rate at 6.4971 (&OMOs)
- Japan finmin Aso: Sees no need for extra econ stimulus
- Moody's on Brexit - poses manageable credit challenges for UK and EU
- Australia - Q4 House Price Index: +0.2% q/q (vs. expected flat)
- US Treasury "expressed concern" on RBA AUD comments (old news)
- Australia data - ANZ Weekly Consumer Sentiment: 116.0 (prior 116.4)
Japanese markets reopened after a holiday Monday, with the Nikkei posting a gain and the yen little changed on the session despite some choppy movement, initially above 112.20 (very briefly) before back under 111.90.
There was little in the way of significant news nor data flow from Japan today, a few releases only (see bullets above).
Elsewhere it was a low-key data day also. Australia saw the Q4 house price index, confirming what we already knew of October - December last year via monthly data - a slowing of house price growth. Also from Australia a piece in the business press on US concerns re the RBA jawboning the currency. The concern was expressed back in September of 2015 but apparently only surfacing today. Curious.
EUR, AUD, CHF and GBP all gained against the USD; moves were not large at all.
As already noted, USD/JPY had some choppy movement but is little changed.
Gold is a little higher, while oil lost a few cents.
Regional equities:
- Nikkei +1.64%
- Shanghai -0.78%
- HK -0.36%
- ASX -0.33%
Still to come:
- RBA Governor Stevens speaking at 0515GMT
