Forex news for Asia trading Tuesday 25 April 2017
- China said to soon give approval for mixed-ownership reform trials at some SOEs
- BOJ's Iwata: BOJ is conducting simulation on exit strategy
- More from China: Rising defaults, hidden debt, banks pull out of investments
- BOJ meets this week - preview(s)
- Goldman Sachs on gold - calling it down to 1200USD
- Reuters now on possible wall delay - Trump says he is flexible
- WSJ: Italian Politics Could Still Derail Markets
- Reports Trump willing to delay border wall push to avert shutdown ..... More on this here at the WSJ (may be gated): Trump Willing to Hold Off on Border-Wall Funding
- Australia CPI data preview #4 (Last one for today, promise!)
- People’s Bank of China sets yuan reference rate at 6.8833 (vs. yesterday at 6.8673)
- Japan finance minister Aso on the wires, espousing benefits of free trade
- Central bank speakers coming in Europe time Tuesday
- AUD and NZD orderboards
- USD/JPY & EUR/JPY orders
- EUR/USD orderboard
- Australia CPI data preview #3 (Yep, another one)
- Japan PPI (Services) for March: 0.8% y/y (expected 0.7%, prior 0.8%)
- Australia CPI data preview 2 (another early one)
- Bank of Japan Governor Kuroda to appear in parliament today
- USD/CAD on the move - reports US to impose lumber tax ..... More on this here: The Trump administration is hitting Canada with stiff tariffs of up to 24% on lumber shipped into the United States.
- Australia CPI data preview (an early one)
- BoA / Merrill Lynch says Federal Reserve on hold in June, data not quite strong enough
- ICYMI: On the alert for a potential North Korean missile (or worse) test today
- "Top Iron Ore Forecaster Says Prices Will Sink Back Below $50"
- Earthquake off the coast of Chile - M6.8 ..... More on this from Reuters here: Chile rocked by 6.9-magnitude quake; no major damage reported
- Brexit - UK press: EU chasing UK on 2bn euro fraud claim
- ICYMI: Forexlive Americas forex news wrap: Today was about France and risk off
- More comments from the PBOC overnight, reiterating 'more prudent' policy in 2017
- Trade ideas thread - Tuesday 25 April 2017
- Here is more on the "rate hike" in Japan (relax, its for parcel delivery)
- On the economic calendar due from Asia today (very little)
USD/JPY and the Nikkei traded higher today, with yen crosses higher alongside. Shanghai's Composite went along for the ride higher also.
It was a very light day for data and fresh news. What we did get though ... news that the US administration is to place a tax on Canadian timber imports and also reports President Trump is willing to delay seeking funding for the US / Mexico border wall, hoping to avert a government shutdown. An interesting comment also today from deputy governor of the Bank of Japan Iwata, saying the Bank is conducting simulations on exit strategy but not wanting to publicise these.
More on all these items in the bullets above.
USD/JPY dipped a little in the early Tokyo morning, briefly to 109.60 before gaining steadily to over 110.10 where it has stalled and levelled off.
EUR/USD slipped a little, down toward 1.0850 without quite getting there. USD/CHF ticked a few points higher while cable is down a few points only. Subdued ranges for these three.
USD/CAD is higher (CAD weakening as news of the Trump administration tariffs filtered through). USD/CAD traded toward 1.3560 and has come back a few points from that high. AUD and NZD traded lower (it was a market holiday in Australia and New Zealand today for observance of ANZAC Day).
Regional equities:
- Nikkei +0.91%
- Shanghai +0.42%
- HK +0.94%
- ASX closed
Still to come: Its Australian inflation data day tomorrow
- Australia CPI data preview #4 (Last one for today, promise!)
- Australia CPI data preview #3 (Yep, another one)
- Australia CPI data preview 2 (another early one)
- Australia CPI data preview (an early one)
More:
- China targets production of two million new energy vehicles by 2020
- Five Roadblocks in the Way of the White House's Proposed Corporate Tax Cut (Wall Street Journal, may be gated)
