Forex news for Asia trading Wednesday 4 October 2017
- RBA's 'Chart Pack' published today - here is a scary one
- AUD traders - big data day Thursday coming up- retail sales and trade balance (preview)
- Definitely not FX: Hawks reinstate Jeff Kennett as president (One for the Aussies)
- US President Trump says on Puerto Rico debt - We're going to have to wipe that out
- World Bank raises 2017 China growth forecast to 6.7% (from 6.5%)
- Reminder - China is closed today, & all week - no PBOC CNY reference rates this week
- FX option expiries for Wednesday 4 October 2017
- More on "Trump Aides Deliver Shortlist of Fed Candidates"
- Trump aides deliver shortlist of candidates for Fed chair
- Japan (Sep) PMIs: Nikkei/Markit Services 51.0 (prior 51.6) & Composite 51.7 (51.9 )
- USD sliding in the Tokyo morning
- London's financial district needs a watertight Brexit transition deal by the year-end
- BOJ Gov. Kuroda remarks - on fintech not the economy nor monetary policy
- New Zealand - ANZ Commodity Prices for September: 0.8% m/m (prior -0.8%)
- Barclays on the RBA - expect patience but a rate hike is coming
- Bloomberg on "26 Recession-Free Years Hide a Darker Picture for Australia"
- Japan press on comments from BOJ dep gov Nakaso
- UK - BRC Shop Price Index (September): -0.1% y/y (prior -0.3%)
- Jeffrey Gundlach says no chance President Trump wants Yellen to continue at the Fed
- Australia - AiG Performance of Services index: 52.1 (prior 53.0)
- US President Trump says debate on gun control will perhaps come, but not for now
- Australia Sept PMIs: CBA/Markit Services 53.2 (prior 54.2) & Composite 53.1 (54.1)
- Overnight: Brexit poses risks to British companies ability to borrow from European banks
- Spain - Catalonia leader says region will declare independence in a matter of days
- NZ data - ANZ Job ads for September +0.4% m/m (prior +1.0%)
- Trade ideas thread - Wednesday 4 October 2017
- OIL - private inventory data shows draw in headline crude inventory
Yesterday's Asia Wrap was headlined 'USD pops', so a bit of symmetry today!
Yes, it was a broad-based USD drop in Asia today around the Tokyo fix. I had posted on some Fed news as perhaps contributing (admittedly with low conviction) but others pointed out falling UST yields and other 'reasons'.
For USD/JPY the move was halted ahead of 112.50 buyers and its around 112.65 as i update. EUR/USD managed a 30+ point gain (to above 1.1775 briefly, twice (for a double top on very short-term charts) and has subsided marginally to be under 1.1170 as I update.
Otherwise news and data flow was light (there was plenty of data but it was all lower-tier - see bullets above).
On currencies elsewhere Cable rose and has barely pulled back also, circa 1.3270 tops and not much under as i post. CAD, AUD and NZD all gained; 40 - 50 points for these lot. NZD/USD the winner in terms of gains vs. the USD despite the dairy auction result overnight and still no final result from the election (days away still) as negative inputs.
Oil popped on the release of the private inventory data but did a road-runner-off-a-cliff soon after and lower on the session since. Gold climbed a few dollars.
