Forex news for Asia trading Monday 4 April 2016
- Goldman Sachs on good levels to short Asian currencies
- Japan firms' inflation expectations weaken, keeps BOJ under pressure
- You asked for it - Here are the top 5 seasonal trading opportunities for April
- Waiting on the PBOC yuan fix? None today - China on holiday.
- The war on US shale oil continues, but its slow going as shale producers resilient
- New Zealand Monthly Economic Indicators for March
- Australia: Building Approvals (February): +3.1% m/m (vs. expected +2.0)
- Australia: Retail Sales (February) 0.0% m/m (vs. expected +0.4%)
- Australia: ANZ Job Advertisements (March): 0.2% m/m (prior -1.2%)
- Australia: Monthly inflation gauge (March) 0.0% m/m (prior -0.2%) & 1.7% y/y (prior +2.1%)
- UK firms delaying capex & hiring decisions awaiting Brexit vote
- More from the BOJ Tankan - Japan firms expect rising prices
- Panama revelations induce tax authorities to crank up investigations
- 'Shadow' central banking, RBA style (No cut on Tuesday!)
- China stocks Plunge Protection Team gets a new buyer (shout out to the PBOC FX team)
- Here ya go, freeze THIS: Russian oil output highest in 30 years
- Trade ideas thread to start the new FX week - Monday 4 April 2016
- IMF's Lagarde: IMF `good distance away' from program for Greece
- Friday's intervention to buy USD against the shekel will continue says central bank
- Weekend: LDP VP says Japan needs economic measures in H2 of current fiscal year
- Monday morning Forex prices, early indications
Weekend:
- You have a bias
- Trump says the US is on course for a "very massive recession"
- Closure of the Tata steel plants has wider repercussions for the UK economy
- Not even bankruptcy stops oil companies from pumping
- IMF considers brinksmanship strategy to get Germany to accept Greek haircut
- Planned US patrol near South China Sea brings sharp rebuke
- Russian oil output higher in March at 10.91m barrels per day
- Video: forex seasonals, jobs and the US dollar
USD/JPY and AUD/USD the movers today in Asia, both to the downside.
The Corporate Price Expectations survey part of the quarterly Bank of Japan Tankan report showed declining inflation expectations and gave a boost to chatter of the potential for further BOJ monetary policy stimulus at the upcoming April meeting (27th and 28th). USD/JPY didn't seem to get the memo though, dropping away to lose nearly 50 points from its session high today (though its rebounded a little).
AUD/USD reacted on the release of data today. First up we got the private inflation gauge for March (showing y/y inflation under the RBA target band), but with little currency response. Later we then had a miss from retail sales data and a beat on building approvals. The downside was the weak side, though, AUD/USD off around 30 points from earlier session highs.
Put those two together though and its AUD/JPY that has seen a big fall today., under Friday's low and down towards 85.00.
Elsewhere, EUR and CHF are both little changed, Cable is up small. NZD little changed.
Gold is a touch lower (not a lot) and oil too.
Regional equities:
- Nikkei +0.21%
- Shanghai closed today
- HK also closed today
- ASX +0.76%
