Forex news for Asia trading Tuesday 24 May 2016
- RBA's Stevens: Very committed to inflation-targeting monetary policy framework
- China’s top leaders have lost interest in a freer floating yuan
- Japan finance minister Aso wants USD/JPY around 109
- BOJ executive director Amamiya - comments on BOJ & ETFs
- Westpac MNI China Consumer Sentiment Indicator (May): -3.1% m/m
- Japan finance minister Aso hinting at intervention criteria
- While we are on the yuan - check out the basket case
- People’s Bank of China sets yuan reference rate at 6.5468 (vs. yesterday at 6.5455)
- Japan chief cabinet secretary Suga: Economy on gradual recovery trend
- Analyst says China bailout "in the trillions of dollars" needed
- More from Fed's Harker: June rate hike appropriate unless data miss
- Australia - ANZ / Roy Morgan Weekly Consumer Confidence: 115.7 (prior week 115.1)
- Fed's Harker adds to drumbeat of approaching U.S. rate hikes"
- Fed's Harker in Q&A now: We are starting to see some signs of wage growth
- Fed's Harker: Can easily see 2, 3 Fed rate hikes in 2016
- The question on everyone's lips: “Is OPEC dead or just in a coma?”
- Brexit: Latest ORB poll: 55% to remain, 42% to go
- Goldman Sachs: "Recent Fed communications have confused us"
- Trade ideas thread - Tuesday 24 May 2016
NZD was a weakling in the early part of the sessin, with AUD/NZD buyers and NZD/JPY sellers weighing on it. As I update NZD/USD is barely off session lows but is still above 0.6700.
AUD was only a touch weaker during the session, until after 0300GMT when RBA Governor Glenn Stevens gave scheduled remarks - he talked down the AUD somewhat and it has responded ... somewhat ... down below 0.7200 again but so far holding ahead of buy orders around 0.7180. Stevens defended the bank's inflation-targeting approach, and thus the most recent rate cut.
EUR and CHf both lost some ground also today, but within small ranges. USD/JPY ticked a little higher - check out the comments from finance minister Aso, he nominated a rate at which he would like to see USD/Yen settle.
Cable is barely changed on the session.
Gold is a touch softer, down a few bucks while oile has dribbled off a little also.
Early in the session we had comments from Philly Fed head Harker, repeating his thoughts on impending Federal Reserve rate hikes.
Regional equities:
- Nikkei -0.58%
- Shanghai -0.77%
- HK -0.41%
- ASX -0.10%
