Forex news for Asia trading Thursday 27 October 2016
- Kuroda again: Any attempt to weaken JPY would be FX intervention
- More from BOJ's Kuroda - Still plenty of JGBs in the mkt for BOJ to buy
- Morgan Stanley on CHF intervention, expect EURCHF to remain in 1.08-1.10 range
- Moody's on China - credit growth outpaces nominal GDP
- BOJ's Kuroda: Don't see immediate need to change short, long-term rate target levels
- Deutsche Bank Chief U.S. Economist says recession risk on the rise
- China - Industrial profits (September): +7.7% y/y (vs. prior +19.5%)
- PBOC sets USD/CNY mid-point today at 6.7736 (vs. yesterday at 6.7705)
- BOJ dep. gov. Iwata: Large scale bond buying still necessary
- Australia Q3 export price index: +3.5% q/q (expected 2.0%) & Import -1.0% (expected -0.8%)
- HK press: PBOC raises obscure rate, tightening the liquidity tap
- Bank of Japan Governor Kuroda to appear in parliament today
- Sumitomo Mitsui analyst sees BOJ on hold next week (yen views too)
- Japan press says the BOJ mulls delaying 2% inflation target to FY 2018
- Curse of Asia witching hour haunts currencies
- Bullish GBP? Here's a hedge fund that likes it too - sees fair value as much higher
- New Zealand - Trade Balance for September): $ -1436m (expected -1145m)
- National Australia Bank announce charge for Bad and Doubtful Debts rose 7.0%
- Japan press: Bank of Japan heeds pleas from financial sector
- Trade ideas thread - Thursday 27 October 2016
- Japan PM Adviser Hamada on "The Secret Success of Abenomics"
Not a lot to report on the forex today, some across the board, but very shallow, USD strength on a day of nearly zero news and data.
We did get NZ trade balance, with a dip in exports below expectations seeing the deficit widen. We also got Q3 terms of trade information for Australia, with a big beat on export prices giving us a most improved ToT for 5 years. The recovery in commodity prices means the improvement is not really a surprise, but the extent was a bonus.
The US dollar has shown a small degree of strength nearly across the board in Asia, EUR, CHF, GBP, AUD all a little lower. AUD the biggest of these small losers.
NZD/USD has hung in there, though, pretty much unchanged on the session. USD/JPY has dripped a little lower after topping above 104.60 earlier in the session.
The ranges in all, though, were very subdued.
Gold and oil are little changed.
Regional equities lower today:
- Nikkei -0.58%
- Shanghai -0.34%
- HK -1.22%
- ASX -0.76%
Still to come:
- UK Q3 GDP data due today - how bad an impact from Brexit vote?
