Forex news for Asia trading Thursday 7 April 2016
- Former 'top FX diplomat' in Japan says intervention unlikely
- Reminder - China FX reserves data due today
- China exporters expect trade performance to improve in 2016
- Fitch warns Australian banks: Behave yourselves!
- Japan chief cabinet secretary Suga comments on yen
- Goldman Sachs: 'In Line With Our Fed View, We Hold To Our Dollar Bullish Call'
- Gold & silver - US regulator fines 2 traders for manipulation
- PBOC sets USD/CNY mid-point today at 6.4707 (vs. yesterday at 6.4754)
- Fed's Kaplan again - easier for Fed to tighten than ease, also comments on oil
- More from Fed's Kaplan: Fed will be patient, thoughtful, not overreact
- Japan MoF official - Will take steps in FX market if necessary
- BOJ's Kuroda: Will take additional easing steps if needed
- Fed's Kaplan: Expects 1.9% US GDP growth this year
- RBNZ dep gov Bascand: Monetary policy should remain accommodative
- China FX reserves data due today
- Australia - March construction industry PMI: 45.2 (prior 46.1)
- Goldman Sachs expects an RBA rate cut
- Fed's Bullard: Can't rely on monetary policy & other short-term boosts to economy
- PIMCO: "Financial markets have been over-anticipating recession risk"
- NZ data - March Truckometer +2.5% m/m (prior +1.6%)
- Europe - politics - Ireland coalition (maybe), Dutch vote 'No' on Ukraine referendum
- Maybe Abe shouldn't have ruled out 'arbitrary' FX intervention
- Trade ideas thread for Thursday 7 April 2016
- Mick Jagger's Mixed Emotions on Brexit
Little in the way of market-impactful data today but quite a few comments from central bankers (Federal Reserve, BOJ, RBNZ) during the Asian timezone today, all to little effect.
The effect, instead, came from the Ministry of Finance in Japan. You may recall that it's the MoF the instigate intervention in the yen, the Bank of Japan act of Ministry orders.
Today the ministry warned again it was 'watching closely', and that it would 'take steps' if it deemed it necessary to do so. USD/JPY popped a handful of points or so and then traders said ''Show us the money" ... and then beat the USD/JPY down. As of updating its now more than 60 points from its session high... and more as I write on Shinohara comments.
EUR, CHF, GBP ... not where the action was (yen crosses excepted, of course).
AUD ground out a small gain early but gave it all back and a little more to be around session lows (albeit a very small range) as I write. NZD/USd a similar trading pattern and a small range too.
Gold gained a few dollars, call it around $5. Oil continued its overnight gains.
Regional equities:
- Nikkei -0.10%
- Shanghai -0.76%
- HK -0.03%
- ASX +0.3%
More: China Ramps Up Aluminum Production as 20% Rally Allows Restarts.
