Forex news for Asia trading Thursday 3 March 2016
- Elliot waves hello to a $2.4bn gain!
- Latest NZ bank to call RBNZ 'on hold', but 'signal a cut' imminent
- EUR/USD price action is similar to October 2015 says Citi. Levels & targets
- Nikkei Services PMI 51.2 (prior 52.4)& Composite PMI 51.0 (52.6)
- Moody's not finished with China yet - negative outlook for 38 Chinese SOEs
- China February Services PMI 51.2 (prior 52.4) & Composite PMI 49.4 (50.1)
- BOJ's Nakaso: Effect of negative rates already appearing: JGB yields falling further
- PBOC sets USD/CNY mid-point today at 6.5412
- PBOC open market operations: Injects 40bn yuan today
- China People's Daily: 'Misunderstanding' over Moody's move
- BOJ Gov Kuroda comments on screens (he is speaking in parliament today)
- Australian Trade balance for January: -2937m (expected -3200m)
- Sad news from NZ today - test cricketer Martin Crowe has passed away
- New Zealand - ANZ Commodity Prices index February: +0.4% m/m (prior -2.3%)
- Critic of high-frequency traders awarded $750K by US SEC
- Aussie traders, looking for a job? Time to polish the CV.
- Press: China has sufficient policy tools to ensure medium-to-high-speed economic growth
- AUD/USD & NZD/USD orders
- Australia - AiG Performance of Services index for February: 51.8 (prior was 48.4)
- Number 1 ranked technical analyst bearish on US stocks "fade this breakout"
- NZ data - Value of All Building Work for Q4: +2.5% q/q (expected +2.0%)
- Trade ideas thread for Thursday 3 March 2016
Not a lot in the way of news to drive markets in Asia today. There was plenty of lower-tier data, and the usual from the talking heads of the BOJ, but nothing to point the finger at for a near big-figure move higher in USD/JPY (yen crosses higher also).
The biggest release of the day was the Australian January trade balance data, where the deficit came in under expectations. This is likely due to commodity prices improving a little during January and February, helping the $A value of Australian exports along.
The PBOC applied small strengthening to the yuan at the USD/CNY mid-point set today & injected funds into the money market for the first time since Monday. Moody's posted a negative outlook for Chinese SOEs after the sovereign action yesterday.
On the currencies, AUD ground out a gain toward 0.7320 before settling back just a little. NZD followed a similar pattern, marginally higher for the session. EUR, CHF & GBP have seen little movement against the USD (as mentioned against the yen they performed better).
Gold was basically flat, minor moves only, oil similar.
Regional equities
- Nikkei +0.93%
- Shanghai +0.23%
- HK -0.45%
- ASX +1.13%
