Forex news for Asia trading Friday 23 December 2016
- USD/SGD lower ahead of data (due at 0500GMT)
- Italy - recap on the Monte dei Paschi rescue
- MNI China Business Sentiment Indicator (Dec.): 55.9 (prior 53.1)
- PBOC sets the TGIF USD/CNY mid-point at 6.9463 (vs. yesterday at 6.9435)
- BOJ's improved dialogue with the market - shift away from surprise-based approach
- UK data - Lloyds Business Barometer(December): 39 (prior 32)
- Italian cabinet approves decree to support banks
- A message for Japanese Emperor Akihito: Happy Birthday
- How long before Trump starts tweeting currency views?
- Italian cabinet meeting underway to discuss rescue plan for Monte Dei Paschi
- An interesting little bit from GQ's list of the "Least Influential People Of 2016"
- Trade ideas thread - Friday 23 December 2016
USD/SGD had a sharp drop in Asia today:
As I write I haven't heard anything specific on the SGD. The move could well be related to data due to come at 1pm local time (inflation expected at 1.2% y/y and industrial production expected at +1.6% y/y). Thinner than normal liquidity ahead of Christmas will also be playing a role.
Elsewhere ... a quiet session today. Japanese markets were closed for the Emperor's birthday holiday. Elsewhere, many exchanges & desks closed early ahead of Christmas.
News and data flow was very light.
Ranges for currencies were tight indeed. USD/JPY dribbled a handful of points lower, as did USD/CHF. EUR/USD a handful up, while GBP/USD was marginally softer.
AUD and NZD seemingly clocked off early for the weekend.
We may see some more action ahead in the US morning, with some more data still to come to perhaps impact on the USD.
Gold ticked a few dollars to the better while oil is little changed here in Asia.
Have a great Christmas everyone!
