Forex news for Asia trading Thursday 23 June 2016
- Moody's: Imminent financial crisis in China is unlikely
- Japan official says concerned about Brexit impact on FX and financial markets
- MNI China Business Sentiment Indicator for June: + 9% to 54.5 (prior 50.0)
- Japan Preliminary Manufacturing PMI for June: 47.8 (prior 47.7)
- Reports PBOC, NDRC to hold meeting on China debt levels today
- BOJ's Kiuchi: Additional effects of monetary easing are diminishing
- Goldman Sachs - How EUR might behave after the UK Brexit vote
- People’s Bank of China sets yuan reference rate at 6.5658 (vs. yesterday at 6.5935)
- CME increases currency price-swing limits ahead of Brexit vote
- G7 to issue a joint statement to calm mkts if 'Leave' wins Brexit vote
- BOJ emergency meeting suspected if vote backs Brexit
- Once the Brexit vote is done tomorrow ... its all only just beginning!
- Don't miss the ForexLive Brexit Webinar Thursday UK time!
- Brexit - Here's what tomorrow's fish and chip wrappers say
- Brexit polls driving hot money flows
- Another YouGov Brexit poll crossing
- Remain gains - GBP rally ignites
- Trade ideas thread - Thursday 23 June 2016
- Brexit on Betfair - Probability of Remain winning has risen to 78%
- Brexit - latest poll - ComRes (phone): Remain 48% and Leave 42%
- Brexit - latest poll - YouGov (online): Remain 51% and Leave 49%
- ComRes and YouGov Brexit polls likely to be released soon
- Here's why the weather won't stop Brits from Brexit voting tomorrow
- JP Morgan says Brexit polling suggest small lead for 'Remain'
An active beginning for early Asia, with the release of two Brexit polls just on 5pm NY time, both showing a likely 'Remain' win. GBP started its move higher a few minutes after the polls dropped, and it climbed, hard, up around 150+ points from where it began when I sat down.
GBP crosses surged alongside.
The yen dropped, the 'Britain In ' = 'Risk on' idea taking its toll on yen. USD/JPY trade toward 105 before halting. Yen crosses higher also.
EUR and CHF saw gains, as did AUD and NZD, but it was GBP where the big moves were. The release of the polls coincided with the thinnest liquidity of the 24-hour FX day, exacerbating an already thinly-traded GBP.
Trading became more subdued after these moves. Cable has still been choppy, trading a 1.4775/1.4825 range. EUR/USD dropped back a little but found support around 1.1320 and is tracking back near earlier highs as I update.
USD/CHF has been even more subdued since.
USD/yen dropped back to 104.60 area and bouned a little before its come back around 60 as I update.
Oil is better bid, gold bounced.
Voting in the UK begins at 0600GMT and polls close at 2100GMT. Early results will be announced from around 2330GMT. ForexLive will be running a live webcast during the UK session: There's only one place you really want to be tomorrow and that's in our Brexit webinar
Regional equities:
- Nikkei +0.48%
- Shanghai -0.82%
- HK +0.25%
- ASX +0.07%
