Forex news for Asia trading Friday 8 April 2016
- Goldman Sachs or Goldilocks? Oil at $35 is just right
- Japan's Inada: Current yen rate not reflecting fundamentals of Japan
- Where's the AUD going? Reuters poll for AUD (& NZD) forecasts
- PBOC sets yuan reference rate for today at 6.4733 (vs. yesterday at 6.4707)
- Japan chief cabinet secretary Suga: Recent forex moves have been one-sided
- EUR/USD: Where To From Here? - BNPP
- Fed's George: Fed should not delay interest rate hikes
- Japan finance minister Aso: Current FX move one-sided
- Japan BoP CA (February): Y +2434.9bn (expected Y2032.3bn)
- Japan economy minister Ishihara: Continues to closely monitor FX market
- Where will the BOJ intervene in USD/JPY? (Yes, MOAR!)
- Japan MoF official: There are speculative moves in yen market
- Fed head Yellen (more): Fed has laid out strategy to unwind balance sheet
- Here's one for the bears: A killer planet is rapidly heading towards earth
- PIMCO sees US real GDP growth at 1.75 to 2.25%
- More from Yellen: Has no goal for value of US dollar
- Moody's: Germany's economic growth to slightly accelerate in 2016
- Fed Chair Yellen: US close to maximum employment, making progress on inflation
- More price pain coming for energy exporters? China wants to renegotiate contracts
- Here is why the BOJ "Can't" intervene
- Poll: What price BOJ intervention? Pick a big figure!
- Trade ideas corner - Friday 8 April 2016
- More from Fed's Williams - two or more hikes this year if data matches forecasts
- Overnight - China FX reserves 'unexpected increase', 'capital outflow eased'
We got comments from Federal Reserve Kansas branch head Esther George today. But it was George Costanza who was most influential in FX, with an 'opposite' day playing out. Comments out of Japan jawboning the yen lower sent it higher yesterday, but those same comments repeated today sent it down. Opposite day.
From lows in USD/JPY around 108.00 it stacked on nearly a big figure (yen crosses were a big beneficiary too, of course) before running out of steam at the round number. Some profit taking ahead of the weekend was mentioned by a few sources and makes sense, but lets see how it goes in Europe and then the US - still a long way to the weekend.
EUR and CHF were little changed (yen crosses excluded), while cable edged a few points higher only. AUD and NZD too edged a little higher.
Gold is little changed, down a few dollars while oil continued its US afternoon gains.
The 'historic' forum involving current Fed Chair yellen and the prior 3 chiefs went without creating much of a ripple at all in markets.
Regional equities:
- Nikkei -0.18%
- Shanghai -0.90%
- HK -0.69%
- ASX -0.56%
Still to come: From Japan at 0500 GMT - Cabinet Office releases the March Consumer Confidence Survey & at 0600 GMT the March Economy Watchers' Survey. As with most Japanese data it'll be 'Ready, set, ignore'.
More:
- Investors are flocking to Chinese junk bonds
- Copper is poised for the biggest weekly loss since January
