Forex news for Asia trading Monday 29 May 2017
Monday:
- Australia Q1 eco growth - forecasts being cut, contraction a greater risk
- Japan press on higher wage costs weighing on company profit
- More from Fed's Williams: Inflation soft last 2 months, medium-term favourable
- Fed's Williams: Fed to begin shrinking balance sheet later in 2017
- Early economic data for May from China shows cooling growth
- PBOC's daily yuan fix is changing - a new “counter-cyclical adjustment factor”
- Trump's back home, and tweetin'! ... "Massive tax cut" is "moving along"
- When AUD/USD was at 0.5020 this indicator was where it is now
- Today is a UK & US holiday ... but some Asian centres on holiday also
- Japan press: "Capex growth rebounds to post-crisis high" - "Wave of investment"
- More on the North Korean missile launch
- Westpac on the Australian dollar - the positives, the negatives in summary
- Media reports North Korea has just fired another missile
- If SNP wins most seats in Scotland on June 8, Sturgeon wants an independence referendum
- Rand - more detail on Zuma survival talk
- Trade ideas thread - Monday 29 May 2017
- Rand higher - Zuma said to have survived ANC NEC proposal to remove him
- Former Italian PM Renzi suggests next election be synchronized with Germany's
- Economic data due from Asia today - none, but a Fed speaker.
- Monday morning FX - 29 May 2017 - foreign exchange prices, early indications
Weekend:
- The 15% are battleground in the future of American politics
- Trump returns from Europe and back into the Twitter-verse
- Canadian Conservatives select Andrew Scheer as successor to Stephen Harper
- Merkel plots to chart separate path from US
- Gregg Allman makes his last way out
- G7 communique: Trump agrees to pledge "to fight all forms of protectionism"
- UK election - Latest ICM poll has May's Conservatives 14 points ahead
- UK election - weekend poll (You Gov): Conservatives 43, Labour 36
- UK election - weekend poll (ORB): Conservatives 44, Labour 38
- Kushner reported to have requested a secret communication line to Moscow
- BOJ's Kuroda says non-traditional policy to stabilize markets is effective
- China April industrial profits yy +14.0% vs 23.8% prev
ICYMI: Forexlive America FX news wrap: GBP is the dog in trading today
The upcoming holiday in the UK and US seemed to put a lid on activity in Asia today. China was out today also (and is again Tuesday).
There was plenty of news about over the weekend and today (see bullets above), UK election polling swinging about, North Korea launching a(nother) missile, Merkel comments on the US alliance, comment from BOJ's Kuroda and Fed's Williams. But FX rates have opened the week little changed here.
There was movement, thoughk in the South African Rand. The ZAR had lost some ground on concerns over President Zuma being forced from office, but it seems this is not going to happen, with his party leaders deciding against not supporting him USD/ZAR fell in early trade (see bullets above).
To the majors, there is little change. USD/JPY has ticked up a few points on the session, within a small range. EUR/USD moved above 1.1180 in early Tokyo but gave away 20-odd points and is under 1.1170 as I update. The CHF, too, has net lost a tiny few points against the USD on the session. GBP/USD, too, little net change but a few points to the better from late US Friday levels nonetheless.
AUD and NZD are both marginally higher against the USD (there is very little in the moves, though) while the CAD has slipped a few points against the USD.
Regional equities:
- Nikkei +0.14%
- Shanghai closed
- HK +0.14%
- ASX -0.48%
Here you go, some fun while awaiting Europe:
- Meanwhile, in Australia ... angry pedestrian walks into a pole (video)
- Red lights flashing inside the White House - disco?
