Forex news for Asia trading Monday 25 April 2016
Monday:
- Aussie press: RBA likely to look through weak inflation rate
- Goldman Sachs says Japan may take strong policy mix to inflate economy
- People’s Bank of China sets yuan reference rate at 6.5120 (vs. Friday's 6.4898)
- Fitch weighs in China steel price - rapid surge not sustainable
- Japan data - Services PPI for March 0.2% y/y (prior +0.2%)
- Japan PM Abe says to compile an extra budget for fund reconstruction - more
- FT: China debt load reaches record high
- Little watched China economic gauges picking up this month
- Morgan Stanley's weekly outlook: USD, EUR, JPY, GBP, CHF, AUD, NZD
- USA sending an extra 250 military personnel to Syria
- Trade ideas thread, Monday 25 April 2016
Weekend:
- The Tokyo whale! - BOJ is a top-10 shareholder of 90% of Japan's stock market
- China's Chen says financial institutions face increasing credit risks
- Obama warns that negotiating a UK-US trade deal could take up to 10 years if UK votes for Brexit
- Goldman Sachs on THE big event risk next week - Wednesday's FOMC
- Greece debt problems are about to become a market focus (again) - be prepared
- North Korea fired a submarine-launched ballistic missile on Saturday
- European Union finance ministers agreed to discuss an annual spending cap
- ECB's Nowotny says euro zone needs negative interest rates to avoid deflation
- Germany's Schaeuble says Greek debt relief not necessary for now
- Iran will support any plan to stabilize the oil market
A Monday holiday for New Zealand and Australia (ANZAC Day) kept liquidity thin in the markets until Tokyo opened today.
Early movers were notably yen and GBP: USD/JPY initially back to its Friday highs then briefly above 111.90, while cable popped sharply, all the way to above 1.4470 before topping.
Both USD/JPY and GBP/USD have subsequently turned back lower, USD/JPY testing down toward 111.00 (driving yen crosses mostly lower) and GBP/USD not quite so lossy, finding support circa-1.4430.
EUR has ground a small gain against the USD, as has the CHF.
AUD and NZD (/USD) have been bound in small ranges.
Oil is lower on the session, in the absence of fresh news profit taking on longs after last week's rally (and the week's prior too, of course) has been cited. As you do.
Gold is little changed.
- Nikkei -0.63%
- Shanghai -0.82%
- HK -0.54%
- ASX reopens tomorrow
