Forex news for Asia trading Tuesday 5 May 2015
Waiting on the RBA:
- RBA decision due Tuesday 5 May 2015 at 0430GMT - preview
- Citi's outlook for the Australian dollar on the RBA decision today
- Goldman Sachs - "material risk" the RBA defers the next step lower in rates
- Poll time! Its RBA day. Cut or no cut? What do ForexLive traders say?
- Australia Trade balance for March: -1.322bn (-1bn expected)
- Australia - ANZ Roy Morgan weekly Consumer Sentiment: 108.7 (vs. prior 111.8)
- Australia - AIG Performance of Services for April: 49.7 (prior 50.2)
And:
- BoA/ML - Signs of stabilization in China economic growth
- Overnight press: Greece faces losing IMF support unless big sovereign debt write off
- Barclays says China property sales potentially bottoming out
- Shanghai Securities News: Several brokerage houses have raised margin requirements
- China - Securities Times: China may raise the stamp tax on stock trading
- More on the probe into Federal Reserve FOMC leak - Yellen met with firm months prior
- RBC thinks USD/JPY is going to 132
- PBOC academic adviser says China stock rally is positive for consumption
It was a holiday in Japan again today. Despite this the currencies were very subdued.
EUR/USD, cable, USd/CHF and USD/JPY all had tight ranges. USD/CHF ticked higher on the session, gaining around 20 or so points to register the most impressive range of this lot.
AUD and NZD were more active, but not by too much. We await the RBA announcement (due at 0430GMT), and we did the AUD/USD found some buying, it dipped ever so quickly toward 0.7830 for the session low after the trade data and then ground out a 25 point or so gain. NZD/USD followed a similar pattern, down toward 0.7530 before putting on 20 or so points for a session high. Both AUD/USD and NZD/USD have come back from their highs as I update, AUD down around 15 points, and kiwi around 10.
Still to come!
- Heads up for NZD traders - dairy auction on May 5
