Forex news for Asia trading Tuesday 24 February 2015
Waiting on Yellen ...
- USD/JPY could test 120 this week on Yellen testimony, Greece calming
- More analysts views on what to expect from Federal Reserve chair Yellen's testimony today
- Here are 5 things to look out for in Federal Reserve chair Yellen's testimony
- Are we just gonna tread water ahead of Yellen's testimony? View from analysts ...
- Technical analysis - Is EUR/USD below 1.1291 a clear break to the downside?
New Zealand/Australia:
- New Zealand ministry says confident fruit fly population will be eradicated
- New Zealand inflation expectations data - do analysts expect an RBNZ rate cut in response?
- Q1 New Zealand RBNZ Inflation Expectations for 2 years ahead: 1.8% (prior +2.06%)
- NZIER says the RBNZ cannot justify any interest rate change in 2015
- Australia - ANZ Roy Morgan weekly Consumer Sentiment: 110.8 (prior was 109.8)
- More from BHP - slashing capex
- Malaysia's central bank Zeti: Ringgit is undervalued
- If oil can't rally on good news...
- Nikkei: Government-BOJ relationship showing signs of strain
- Japan - PPI services for January: +3.4% y/y (vs. expected 3.6%)
- Wheels turning in Europe - Schaeuble requests parliament approve Greek aid extension
Everyone agreed, it was a day to sit back and quietly await Yellen ... until the NZD came along and woke us all up.
New Zealand data (inflation expectations survey from the Reserve Bank of New Zealand) triggered a sharp move lower in the NZ dollar, down 70-odd points from session highs as i write, and barely off its lows. While it seems unlikely that the lower inflation expectations will cause the RBNZ to move to cut rates, it was enough to sweep out some long stop losses.
The NZD fall took the AUD with it, its down around 40 points from session highs.
EUR and GBP were a little heavy, cable more so (down around 30 points before a 10 point 'bounce').. The CHF weakened in the earlier part of the session but is basically unchanged against the USD as I write, EUR/CHF basically unchanged on the session also.
USD/JPY provided a little movement, gaining 35-odd points to yet again try above 119. Its settle just around 119.05 as I write.
Oil and gold ... not much going on in either today.
