Forex news for Asia trading Tuesday 4 July 2017
- Australian data beat today (retail sales) - analyst responses
- The NASDAQ data problem tonight - bad data feed shocks investors
- Japan PM Abe discussing trade issues, global protectionism
- Australia - Retail Sales for May: 0.6% m/m (vs. expected +0.2%)
- PBOC sets USD/CNY mid-point today at 6.7889 (vs. yesterday at 6.7772)
- Japan's NHK reports Nth Korea has launched a missile
- China / Hong Kong Bond Link gets underway
- Forexlive Americas FX news wrap: Just the headlines!
- BOJ Tankan (part 2 - inflation outlook): Firms see 0.8% y/y inflation in 1 year
- Japan - monetary base for June 17.0% y/y (vs. expected 19.2%)
- Goldman Sachs has lowered its Q2 GDP estimate (for the US)
- Australia - ANZ Roy Morgan Weekly Consumer Confidence: 114.5 (prior 111.8)
- Opposite views on the RBA today - 'bulls beware' & 'AUD ... can move higher'
- China press says GDP growth in 2017 may be higher than in 2016
- NZD traders - heads up for the dairy auction today (during London time)
- 'Bottom line' from Morgan Stanley is for EUR higher
- NZ - NZIER survey - Q2 business confidence not much changed from Q1
- Economic data due from Asia today
- Brexit comments from UK Chancellor Hammond - he wants help from business
- RBA meeting today - preview (#4!)
- Survey says ... leading Japanese companies are ready at last to raise prices
- Trade ideas thread - Tuesday 4 July 2017
- Japan press: "Japan seen left out of global exit from easy money"
- Its RBA day - preview of the July meeting
Ahead of the RBA announcement (still to come, due at 0430GMT) moves on forex were confined to small ranges. A little USD weakness in the first part of the Tokyo morning saw EUR, CHF, GBP, AUD, CAD all trade a little stronger, as did the yen.
The yen gained a small tailwind from a North Korean missile test.
NZD was a laggard, and that continued through to as I post this wrap. NZD was further offered following the major Australian data release of the session, retails sales for May (a big beat), AUD/NZD buyers around.
Net the currencies are little changed with some retracements of that early USD slip; but yen, AUD have held much of their (small) gains) while NZD/USD is weak still.
The PBOC weakened the yuan (against the USD) today at its reference rate setting.
And so the wait continues for the Reserve Bank of Australia, previews:
- Opposite views on the RBA today - 'bulls beware' & 'AUD ... can move higher'
- Westpac preview
- UBS note on what to expect from RBA
- HSBC preview
Regional equities:
- Nikkei +0.38%
- Shanghai -0.50%
- HK -0.41%
- ASX +1.70% (having a great session so far)
