Forex news for Asia trading Friday 29 September, 2017
- RBA meet next week - Reuters poll shows near unanimous no rate change
- Reuters report South Korea has banned all forms of initial coin offering
- "CHF to remain a victim of the global divergence trade; staying long EUR/CHF"
- More now on - IAEA says North Korea has made rapid progress on nukes
- Australia - Private Sector Credit (August): 0.5% m/m (expected 0.5%)
- Japan finance minister Aso: Need to delay FY2020 primary balance target a bit
- PBOC sets USD/CNY central rate at 6.6369 (vs. yesterday at 6.6285)
- IAEA says North Korea has made rapid progress on weapons development (nukes)
- FX option expiries for Friday 29 September 2017
- Recap of Japan consumer prices data
- USD/JPY edging higher - fix related buying cited
- BOJ Summary of Opinions (Sept 20/21 meeting) - best to maintain current policy
- Japan Industrial Production (August preliminary): 2.1% m/m (expected 1.8%)
- Japan Retail Trade (August): -1.7% m/m (expected -0.5%)
- Japan inflation data - National CPI for August: 0.7% y/y (expected 0.6%)
- Japan: Overall Household Spending (August): 0.6% y/y (plus jobs data)
- ANZ on Brexit: Insufficient progress the most likely scenario (& here's the trade)
- UK data - GfK consumer confidence (September): -9 (expected -11, prior -10)
- CBA on the data due from Australia today (CBA nails it here)
- Stick this in your diary for Saturday - weekend data due from China (PMIs)
- Early eco data for China (September ): "Hint at slowing momentum "
- New Zealand - Building Consents (permits) August: +10.2% m/m (prior -0.7%)
- RBNZ Annual Report out now - Bank says NZ economy, financial system, sound
- Trade ideas thread - Friday 29 September 2017
- ECB's Praet says French President's Macron reform are very encouraging
- Inflation data coming from Japan today - preview
Yen was the mover here in Asia today with other currencies relatively quiet alongside. A big amount of data hit from Japan along with the 'Summary of Opinions' from the Bank of Japan September meeting but the driver was cited as month/quarter end USD demand & US yields a tad firmer. USD/JPY ticked higher into the Tokyo fix, and after a period sideways edged small higher again. The range on the session is 30+ points, not large.
USD/CHF is little changed on the session, EUR/USD ticked to circa 1.1790 and has given that 10 point gain all back (exciting stuff) while cable has been a more consistent move, its slipped a few points to circa 1.3410.
AUD/USD is down from 0.7850 to around 0.7840 with iron ore a touch softer in China during the morning. It was a holiday in Melbourne today and will be a holiday in Sydney on Monday (big footy weekend).
NZD/USD a slightly bigger loser, down 20 odd points or so. Gold has lost a few dollars.
