Forex news for Asia trading Wednesday 5 October 2016
Fed's Evans spoke today
- Fed's Evans spoke in NZ today on the economic and policy outlooks - recaps
- More from Fed's Evans: Fine to raise rates by year end if data stays firm
- Fed's Evans: Should be a very shallow rate hike path
Otherwise:
- BOJ's Kuroda says he'll lower rates needed to ease further
- Venezuela's Maduro says head of Rosneft to visit in 2 days
- Goldman Sachs are concerned on China property, a risk to metals prices
- Here is BlackRock's Global investment Outlook for Q4 - full text
- Japan - Nikkei Services PMI 48.2 (prior 49.6) & Composite 48.9 (49.8)
- Australia August retail sales +0.4% m/m (expected +0.2%)
- Here's why there is so much talk of an early Japanese election
- Japan PM Abe says he is not thinking at all of calling an early election now
- NZ data - ANZ Commodity Prices +5.1% m/m (prior +3.2%)
- UK data - September BRC shop price index -1.8% y/y (prior -2%)
- Australia - Services PMI for August: 48.9 (prior 45.0)
- It's the 5th of the month - you know what that means, right? (Gotobi day)
- Reuters: "Everything people are hearing from the UK is not positive for its currency"
- Have OPEC set their sights on a sustained oil price of $50-$60 per barrel?
- Trade ideas thread for Wednesday 5 October 2016
- Inventory data out (surprise draw) - oil price has a pop
- New Ukip leader Diane James quits after 18 days
Oil was a mover in late US time. The private inventory report that hits each Tuesday afternoon (ahead of official data on Wednesday morning) showed a surprise draw in stocks of crude. The oil price popped higher and has maintained its gain through the Asian time zone.
USD/JPY had a subdued session today, in a 20 or so point range and not troubling the 103 big figure.
Elsewhere it was a day of a little softness for the USD. EUR, GBP, CHF and AUD all put on small gains. The NZD was a notable absentee, it fell against the big dollar, down 30+ points for the session.
On the data front, a quiet session, with Australian retail sales the focus. These came in at a beat, after months and months of disappointing results. Still, a beat is a beat and the AUD had a bounce after slipping overnight.
Gold is a few dollars higher on the session after its huge slide overnight.
Regional equities:
- Nikkei +0.57%
- HK +0.42%
- ASX -0.52%
It was the US vice-presidential candidate debate today. The Thriller in Vanilla according to some wags.
