Forex news for Asia trading Tuesday 31 March 2015
- Japan Vehicle production for February: -5.3% y/y (prior was -9.7%)
- Reuters poll: Japan fund managers bought more eurozone shares
- Analyst says Federal Reserve should have already raised rates
- SocGen say USD/JPY may rise as confidence in US economy improves
- Westpac: RBA to cut cash rate by 25bp next week & adopt a "soft" easing bias
- US business economists upbeat on GDP outlook - cite strong labor market & cheaper gasoline
- More from Fed's Fischer: GDP data may understate economy's health
- Australia - Private sector credit for February: +0.5% m/m (expected +0.5%)
- Comments from Japan economy minister Amari
- Not FX ... Australia announces cricket test squad for the Ashes, West Indies
- New Zealand: ANZ business confidence: 35.8 (prior 34.4)
- Australia HIA new home sales (Feb): +1.1% m/m (prior +1.8%)
- Federal Reserve's Fischer: Fed did not plan appreciation of the US dollar
- Barclays on month-end flows coming
- Barclays looking for RBA rate cut in April
- When should we expect the PBOC RRR reduction? April 15 says this guy
- Federal Reserve's Fischer - no comments on economy or monetary policy
- UK data - GfK Consumer Confidence for March: 4 (vs. expected 2)
- Australia - ANZ weekly Consumer Sentiment: 112.3 (prior was 111.4)
- PIMCO: Lack of strong demand restrains Australian corporate leverage
- Greek PM Tsipras: No more recessionary policies, no more austerity
- New Zealand Building Permits for February: -6.3% m/m (prior was -3.8%)
- A big up day for global stock markets
- The strongest and weakest currencies for March 30, 2015
- Greek PM Tsipras on the wires: Shouldn't be forced into new bailout, loans
- This is the kind of headline that gives stock market bulls chills
While ranges weren't large there was nevertheless FX price movement in Asia today.
USD/JPY dipped a little in the very early going, but by mid-morning Tokyo had gained to test just above 120.35 before dipping back toward 120.05 and maintaining that range (as of writing).
EUR/USD and EUR/JPY gained a little early on, but as USD/JPY fell both slipped away. EUR/JPY lost 60 or so points from its highs. while EUR/USD hit stops below 1.08 and slid towards 1.0780.
USD/CHF, meanwhile, gained a little, after being below 0.8660 very early it ticked briefly above 0.9700 (05 the high I saw).
AUD and NZD were active, pretty much following the broader USD moves - both AUD and NZD making early day highs and then dropping. AUD/USD had notable bids between 0.7600 and 0.7620 (low 0.7619 I saw) which held it for some support.
Oil was weak in the eraly going before settling sideways.
Gold dropped around $7 from earlier session highs.
Still to come ... Preview: Dark clouds surround Canadian GDP report
