Forex news for Asia trading Wednesday 25 January 2017
- "Foreign investor participation in US government bond auctions remains subdued"
- What can separate successful traders from the rest? Evidence from 73 mln trades
- US has been branded a “flawed democracy” by Economist Intelligence Unit
- China's GDP numbers are real, but pace won't be sustained
- Want a free Stanford MBA? (Yes, really. Conditions apply, but there is no catch)
- The USTs & FX positioning war: Asset managers vs. Hedge funds
- UBS Wealth Management strategist says USD will weaken as Trump boosts debt
- RBA meeting next week ... (No, it's the week after! But here's a preview anyway)
- (Overnight) Comments on the yen from Mister Yen!
- New Zealand - Credit Card Spending for December: +8.5% y/y (previous was +4.1% y/y)
- "Japan logs first annual trade surplus in six years"
- Goldman Sachs' Tilton says Federal Reserve to hike more than most expect
- PBOC sets USD/CNY central rate at 6.8596 (vs. yesterday at 6.8331)
- Japan Trade balance (Dec.) Y +641.4bn yen (expected Y 281.1bn)
- Australia - Westpac Leading Index for December: +0.44% m/m (prior +0.02%)
- Moody's reaffirm Australia's triple A rating, with a stable outlook
- China Securities Journal on the MLF rate hike - risk control the focus
- "Macro Event FX Ideas" from Westpac. No. 1 is sell EUR/USD
- Trade ideas thread - Wednesday 25 January 2017
- Australia Q4 inflation data due today - preview
- OIL - private inventory data shows headline build
- Overnight press: ECB’s Lautenschlaeger ‘Optimistic’ exit of bond-purchase program near
After getting to 0.76 in Europe/US trade the AUD/USD made another attempt ahead of the CPI data today, It failed to get there though and upon the release of the data it failed bigly, dropping a quick 30 or so points before extending its losses in the following hour towards circa 0.7535 lows.
The inflation data came in pretty much lower than expected for most measures; here's the data and more:
- Australia Q4 CPI: +0.5% q/q (expected +0.7% q/q)
- AUD falls further following the CPI data
- Australian Q4 CPI - analyst responses
- More responses to the Australian CPI data (here's one bank looking for 2 RBA cuts in 2017)
Since then AUD/USD has stabilised somewhat, but has shown little sign of a bounce as it straddles 0.7540 and thereabouts. This despite fresh bids entering the market now from 0.7530 down to the figure.
USD/JPY was a mover also today, edging a few points higher (it got close to but didn't quite manage 114.00) in early Tokyo before dropping away to briefly touch under 113.40. Since then its had little in the way of bounce and is not far from session lows as I update.
Cable edged a few points to the better, EUR and CHF against the USD are very little changed. NZD has some wobbles at the time of the Australian data but it too is little changed on the session.
Gold had been little changed but in the past hour or so has lost a few dollars, slipping further after overnight losses.
Regional equities:
- Nikkei +1.11%
- Shanghai +0.23%
- HK +0.17%
- ASX +0.27%
