Forex news for Asia trading Wednesday 23 March 2016
- Gold ... gone!
- BOJ's Kuroda: BOJ expects a small impact from 2017 sales tax hike
- US primaries - Trump and Clinton projected winners in Arizona
- ADB President Nakao says China unlikely to suffer hard landing
- Overnight: "A flood of cash is about to hit Australia’s bond market"
- Japan finance minister Aso: What economy needs is more demand, not liquidity
- BOJ's Funo: Inflation to gradually accelerate toward 2%
- PBOC sets USD/CNY central rate at 6.4936
- ANZ say the Reserve Bank of Australia now on hold - no more cuts
- China margin lending rates cuts ... a 'normal adjustment'
- BOJ dep gov Iwata admitted to hospital for surgery
- Fed's Harker (more): All FOMC meetings live for a rate rise
- Australia - Woodside Petroleum shelves LNG proposal
- CASS researcher wants GDP growth above 6.52% for the next 5 years
- USD comments from BoA / ML and JPM. Its going down. Or up.
- Fed's Harker Q& A now: Probably some mis-measurement around inflation
- Japan - Reuters Tankan survey shows manufacturers sentiment subdued
- Fed's Harker: Expected subdued US growth over the next 2 to 3 years
- Fonterra's Wilson says expects dairy prices to pick up in H2 of 2016
- RBA Governor Glenn Stevens responds to AUD jawboning criticism
- Never mind the missing barrels of oil, "Dude where's my missing $25bn?"
- Trade ideas thread - Wednesday 23 March 2016
- Canadian dollar unmoved on budget, bonds slump
- Oil - American Petroleum Institute (API) data - Inventory build +8.796mln bbls
Gold the sharpest mover during the Asian time zone today. It was steady around USD1247 before getting hit lower, down nearly $15 at one stage in the Tokyo afternoon. Stops cited as the reason, although an early heads-up to the trouble for gold came here: Gold bulls should be worried
There was little in the way of news today (see bullets above) with the biggest impact coming from the ANZ announcement it was amending its call for 2 further Reserve Bank of Australia rate cuts this year to now an "on hold" expectation for this year and next. AUD/USD managed a new high (compared to the overnight high) toward 0.7650, but did not manage to sustain the gain. NZD/USD followed a similar pattern, but halted ahead of 0.6770 before it too failed to hold the gain.
USD/JPY ticked more or less sideways in a small range and is near the session high as I update. Sellers reported 112.50/60 then 112.80 holding it for now.
EUR and CHF both lost ground against the USD, with not big moves, on short-ternm charts the CHF looks to be an underperofmer. Cable managed a small range and is near session lows as I update.
Oil sold off early (late NY) on larger than expected inventory report from API, but as I've repeated so many times in the wrap already .... not a big range.
Regional equities:
- Nikkei -0.10%
- Shanghai -0.31%
- HK -0.26%
- ASX -0.44%
More:
