Forex news for Asia trading Thursday 5 October 2017
- Goldman Sachs on the Japanese election: "The outcome is hard to predict"
- Australian retailers suffer worst sales in 4-1/2 years; trade surplus widens
- EUR/USD technical analysis from Lloyds - "core outlook is for a move towards 1.1500"
- Australia retail sales huge data miss - analyst responses coming in
- Australia retail sales data for August - terrible! Bounce in Sep coming? No - here's why
- Barclays on Spain, Catalonia: The risk of "greater volatility in related financial markets"
- Bank of America / Merrill Lynch on EURCHF
- FX option expiries for Thursday 5 October 2017, 10 am NY cut
- Australia August Retail Sales: -0.6% m/m (vs. expected +0.3%)
- Australia August Trade Balance AUD surplus 989m (vs. expected surplus of AUD 850m)
- Credit Agricole on the 3 Bs that matter for GBP
- NZ fin min Joyce says future surpluses may not be wider than forecast
- Soaring rates of 'shadow banking' add to fears of Chinese debt, warns World Bank
- Ex RBA Edwards says potential for rate hikes despite low inflation
- NZ Treasury says 2017 budget surplus to be larger than PREFU forecast
- Goldman Sachs raise estimate for Japan Q3 GDP to +1.5% from +1.2% previously
- Japanese press reports PM Abe pledges to accelerate Abenomics
- Hey, hey, its ECB Day! (Just the September meeting minutes, but still)
- SG on Catalonia: Luckily for Spain, the risk-on mood is masking the threats ahead ...
- Westpac on NZD/USD and NZD/AUD (updated views)
- Trade ideas thread - Thursday 5 October 2017
- Australia data due today - retail sales and trade balance - previews
- And, here's one I found likely to be of particular interest to ForexLive traders
The sharpest mover for the day was the Australian dollar, marked down in the wake of a dreadful miss on retail sales data:
- Australia August Retail Sales: -0.6% m/m (vs. expected +0.3%)
- Australia August Trade Balance AUD surplus 989m (vs. expected surplus of AUD 850m)
- Australia retail sales huge data miss - analyst responses coming in
- Australia retail sales data for August - terrible! Bounce in Sep coming? No - here's why
- Australian retailers suffer worst sales in 4-1/2 years; trade surplus widens
AUD/USD was around 0.7860 before the data, and has been circa 0.7825 since. Slow wage growth, high debt, rising utility bills ... all of the above ... whatever it is its the worst m/m sales result in 4+ years. NZD had slipped a little earlier in the session - there was a positive result from budget surplus forecasts (higher) but finance minister Joyce warned future surpluses may not be wider than forecast, perhaps pre-empting some fiscal profligacy to come as the price of the formation of the next government?
On the Aussie data the NZD thus sat pretty solid - some AUD/NZD buying has helped here also.
USD/JPY popped early (around the Tokyo fix) to test its overnight high but has since slipped back from its circa 112.90 high (but not by much).
EUR, CHF, GBP ... all not too much change against the USD with little news to drive. USD/CAD, too, is little changed.
