Forex news for Asia trading Monday 27 February 2017
- Japan Vehicle Production (January) +3.8% y/y (prior was +4.2%)
- China will allow foreign bond investor to hedge FX risk (more info)
- Rumour re European firms unable to repatriate profits from China
- President Trump interview coming up Tuesday morning
- China plans lower M2 money supply target in 2017
- China economy faces external uncertainties, overcapacity says the NBS
- Australia - Where them GDP forecasts at?
- NZ (January) Money Supply: M3 6.4% y/y (prior +6.4%)
- Australia recession? AAA rating risk? ... What, me worry?
- Japan’s Industrial Output Falls for First Time in Six Months
- PBOC sets USD/CNY reference rate for today at 6.8750 (vs. Monday at 6.8814 )
- China will set lower growth & monetary expansion targets this year say economists
- Australia: January private sector credit +0.2% m/m (expected +0.5%)
- Australia data - 'Net exports as a % of GDP' for Q4: +0.20 % (expected 0.2%)
- UK data: GfK Consumer Confidence (Feb): -6 (expected -6) - business barometer also
- NZ data - ANZ Feb. Business confidence: 16.6 (prior 21.7) & Activity Outlook 37.2 (prior 39.6)
- Australia data: HIA new home sales (January) -2.2% m/m (prior +0.2%)
- Japan data - Industrial Production (Jan. preliminary): -0.8% m/m (vs. expected 0.4%)
- Japan Retail sales for January: +0.5% m/m (expected 0.3%)
- Earliest China economy indicators for February ... looking good!
- BOJ head honcho Kuroda to appear in parliament today (0400GMT)
- China press reporting on SOE profits (yowza!) & transportation investment
- AUD and NZD orderboards
- Australia - ANZ Roy Morgan Consumer Confidence (week ended Feb 26): 119.1 (prior 113.7)
- Trade ideas thread - Tuesday 28 February 2017
- NZ data - Trade Balance (January): -285m (vs. expected -25m)
- Economic data due from Asia today, plenty on the calendar
- US stocks end the day with gains. Dow record for the 12 straight day.
ICYMI
- ForexLive Americas FX news wrap: Can't keep the US dollar down
While there was plenty of data (but not much news flow) today currency moves were very limited indeed. Perhaps the market is waiting on the presidential address to Congress (9pm Tuesday Washington time, 0200GMT Wednesday)
- (and as a ps. Prior to this the Prez will be appearing on 'Fox and Friends' at 6am (Tuesday Washington time, which is 1100GMT).
USD/JPY came off a few points in the Tokyo morning but has traded little more than a 30 point range through the session. EUR and CHF in smaller ranges and are little changed. Ditto for Cable.
AUD/USD is net a few points higher on the day, we got data today that indicated further an expected jump in Q4 GDP after the negative result for Q3. As I update AUD/USD is close to its session high circa 0.7690. NZD/USD isn the basket with EUR, CHF and GBP, little changed against the USD. Trade data today from NZ showed a higher than expected result for January imports.
Gold is a few cents to the better on the session but not a lot in it either.
Regional equities:
- Nikkei +0.64%
- Shanghai +0.28%
- HK -0.06%
- ASX +0.19%
Still to come:
- 6am Washington time, 1100GMT: President Trump interview coming up Tuesday morning
