Forex news for Asia trading Friday 26 February 2016
EUR, CHF, GBP, NZD, AUD ... all performing against the USD today. The yen ... mmm, not so much. It was, of course, the beginning of the G20 meeting in Shanghai today, with comments all over the shop from attendees; I've tried to group them as such in the headlines for the session below.
Carney
- More from BoE's Carney at the G20: Falls in liquidity contributing to mkt stress
- More on BoE's Carney: Lower rates create space for fiscal policy ... if needed
- BOE's Carney: Sees 'sizeable downside risks' (UK press report)
Kuroda & more from Japan
- BOJ's Kuroda again: No plan to push rates further negative
- Bank of Japan (BOJ) Governor Kuroda: Policy having intended effects
- Japan fin min Aso: Not considering another additional budget at present
- Japan January CPI: 0.0% y/y (0.0% expected)
Zhou, Lou & China
- More from China finmin Lou: Has fiscal space to act, plans to expand deficit
- More from PBOC Governor Zhou: Will gradually develop an interest rate corridor
- China January house price data: new home prices +2.5% y/y (prior +1.6%)
- PBOC comments: Will keep forex reserves at a reasonable, appropriate level
- PBOC sets yuan reference rate at 6.5338 & Injects 300bn yuan today
- PBOC Governor Zhou: Latest data shows positive signs for growth in 2016
- China finmin Lou Jiwei: G20 countries need to enhance policy coordination
Schaeuble
- More from German fin min Schaeuble: Debt too high, growth too slow
- German fin min Schaeuble: Space for monetary policy seems exhausted
Lagarde
- IMF's Lagarde: Global economies need broad-based, accelerated structural reforms
Sapin
- French fin min Sapin gets a word in: Believes Brits will make right decision
- Australian Q4 GDP data is due next week, but first ...
- ANZ outlook for: EUR, GBP, JPY, AUD, NZD, CAD,China
- Here's the latest 'Trade of the decade'
- CME announce increased margin requirements for gold, GBP (& others)
- Latest poll puts Donald Trump in commanding lead for Republicans
- NZ January Trade Balance: +8m (expected -271m)
- Triple-A rated companies falling into endangered territory. Moody's could downgrade Exxon
- Trade ideas thread for Friday 26 February 2016
Data was dominated by Japanese CPI for January (national) and February (Tokyo) which, do I need to say it, came in disappointing, as it so often has. The yen lost ground for much of the session, USD/JPY only ticking back from its highs on the weaker yuan fix from the PBOC today and another big daily injection to the money market.
EUR/USD gained for the session, stops above the overnight high around 1.1050 were reportedly triggered, helping it along.
NZD/USD was a strong performer, consolidating and adding to its overnight performance. Early session trade data (showing a surprise surplus for January) gave it a wiggle, but it soon steadied and ticked higher.
Regional equities:
- Nikkei +1.01%
- Shanghai +0.43%
- HK +1.63%
- ASX -0.12%
