Forex news for Asia trading Friday 19 June 2015
- BOJ announcement: NO CHANGE
Greece (even the Kiwis have an opinion)
- Greece's last chance? "Monday's summit will be make it or break it". Really?
- New Zealand finmin English: Grexit would test global system in unknown ways
- Grexit ... are we all focused on the wrong thing?
- More on that ECB call on Friday re ELA for Greece
- The ECB are said to be holding an unscheduled call on Greece ELA on Friday
More:
- China stocks ... slippery slide continues
- Janet Yellen look alike
- China business sentiment jumps to its highest since the start of the year
- Goldman Sachs - says stick with fundamentals - forecasts for EUR/USD
- China vice finmin: Hopes to better coordinate US, China macroeconomic policies
- New Zealand - ANZ consumer confidence index for June: -3.2% m/m (prior -3.8%)
- Opposition party wins election in Denmark
- More on NZ finmin English and his lecture for RBNZ governor Wheeler
- Goldman Sachs calling for 3 more RBNZ cuts this year
- NZ finmin English: Says NZ dollar may fall further
- Going on a quick trip ... but not as quick as the EUR ... 60 points round trip, 1 minute
- New Zealand - ANZ job advertisements for May: +0.1% m/m (prior -1.3%)
The session began with some excitement from the EUR/USD as it shot up 30 points to near 1.14 and then straight back down 30 points ... all within a minute. Chatter was of a thin-liquidity stop loss chase, with a bit of algo activity in there for good measure. Normal Asian market service soon resumed, though and we put in a small range only after that, with a grind up to around 1.1385 before it settled 70/75 (as of writing).
Yen was a focus currency, with the Bank of Japan announcement expected sometime around 0230-0330GMT (if you are unfamiliar with the BOJ monetary policy meeting, there is no scheduled time set for the post-meeting announcement. Once the saké is gone, only then will they emerge). Sure enough, 0304GMT the announcement was made; as unanimously expected there was no change in monetary policy. The bank did announce a reduced number of policy meetings though, from the present 14 down to 8. More details at the first link, above. Yen barely changed in the wake of the announcement, USD/JPY up a few ticks only, capping a quietly (narrow) range bound session.
Quietly (narrow) range bound describes pretty much the day for cable, USD/CHF, AUD/USD and NZD/USD.
NZD slipped away early but ends close to mid-range for the session around 0.6930 (as of updating)
AUD/USD ends (as of writing) on session lows near to 0.7780.
The Shanghai composite finished a poor week even poorer, hitting a 10% 'correction' from its earlier June highs.
Still to come
- Bank of Japan (BOJ) Governor Kuroda press conference at 0630GMT
