Forex news for Asia trading Wednesday 8 February 2017
- BUBA head Weidmann: ECB not at point where it can end expansionary policy
- Japan - JGB yields on the rise today, 30 & 40 yrs at highest in nearly a year
- The Australian postman who earns $5.6 million a year
- Here's the Trump USD story: Is strong USD good for the economy or weak?
- China invites UK PM May to attend summit meeting
- Japan chief cabinet secretary Suga: Closely monitoring (just about everything)
- Reuters: White House eyeing executive order targeting 'conflict minerals' rule
- Rates fund manager says bond bull market is likely over
- Goldman Sachs on the slump in gasoline demand, points to a US recession?
- PBOC sets USD/CNY central rate at 6.8849 (vs. yesterday at 6.8604)
- Barclays says USD/JPY sensitive to headline risks - watch Abe-trump meeting
- Morgan Stanley on the EUR/JPY - more downside expected
- BOJ Summary of Opinions from the January 30/31 meeting
- Japan data - BoP current account (Dec.) and bank lending (Jan.)
- NZ fin min Joyce warns on house prices
- PBOC remarks on their recent rate tightenings - to help ease yuan pressure
- M6.6 earthquake off the coast of Pakistan
- Canadian government will announce aid package for Bombardier
- Trade ideas thread - Wednesday 8 February 2017
- OIL - private inventory data shows 'much bigger than expected' build
Movement in the JGB market today with yields on 30 and 40 year JGBs surging to their highest in nearly a year (since February 24 of 2016)
- 30-year high today 0.914%
- 40-year yield to 1.068% high
The yen was net stronger on the session, from a USD/JPY high above 112.50 in the Tokyo morning it moved down to lows circa 112.05. Its since had a small bounce around 112.15 as I update.
Elsewhere movements were not of the same scale; EUR/USD dropped to around 1.0670 in early Tokyo before recovering toward 1.0690. USD/CHF is little net changed on the session, while cable dropped toward 1.2475 before coming back above 1.2510.
Even the NZD and AUD had limited ranges, AUD/USD lower early (circa 0.7615) before a session high on a bounce just shy of 0.7640. NZD/USD followed a similar pattern, lower early then a bounce. Gold pretty much ditto.
Oil was a mover in the late US afternoon - the private inventory data release coming in at a crude stockpile build around 14 million barrels for the week just passed, compared to estimates of a build around 2.5 million barrels. Oil fell hard and has remained near the lows established after the data release.
Regional equities:
- Nikkei +0.11%
- Shanghai -0.32%
- HK -0.09%
- ASX +0.56%
