Forex news for Asia trading Wednesday 22 April 2015
- NAB says an August RBA cut more likely than in May
- Heads up for AUD traders - RBA speaker during London time tonight
- New Zealand Credit card spending for March: +0.6% m/m (prior was -0.1%)
- China FX regulator: Capital outflows may continue
- More from BOJ's Kuroda and Iwata
- China HSBC flash manufacturing PMI for April: 49.2 vs. 49.6 expected
- Japan flash manufacturing PMI for April: 49.7 vs. 50.7 expected
- Australia - NAB busines confidence for Q1: 0 (prior 2)
- More from BOJ's Kuroda - comments on oil price & what it might mean for policy
- Technical analysis: New Zealand dollar still solid despite drop
- Kuroda: Japanese economy continuing gradual recovery
- ANZ New Zealand consumer confidence 128.8 vs 124.6 prior
- McDermott: RBNZ not considering any increase in interest rates at present
- NZD/USD at a one-week low
- EUR - Greece Riga meeting this week another act in a 5 year drama
- Forex technical analysis (VIDEO): A look all around the AUDUSD
- Japan Buying Foreign Bonds, Y 432.0B (plus, the rest of this data
- Barclays on the RBA in May - expect a cut
- "I believe that spoofers are beneficial"
- NZ permanent migrants and long term visitors +5000 in March
- US says Russia "in breach of a European-brokered cease-fire agreement"
- RBNZ Appoints Part-Time External Monetary Policy Advisers
- How China's government plans to wind down its debt
- How Russian TV misleads viewers about Ukraine
- US says Russian military has deployed additional air defense systems into eastern Ukraine
The biggest mover for the session was the NZD. It was heavy overnight and sagged again in the morning, then got a sharper kick lower as comments from RBNZ assistant governor McDermott crossed the wires (see bullets, above). He said the RBNZ was not considering further rate increases at present (for what its worth, IMO the RBNZ is very much on hold), but his comments were read by some as hinting at a rate cut. I think this is an extreme interpretation, but there you are. Regardless, the NZD/USD legged down further, finding a bottom for the session around 0.7570, from where it has since stabilsed. AUD is still managing to avoid parity with the NZD ...
HSBC China flash PMI was a focal point for the market today. It came in at a 12-month low. the result sent the AUD and NZD down, but both didn't follow through. the 'bad news is good news' argument was cited, saying it pointed to further China stimulus.
EUR/USD and EUR/JPY dipped today. The familiar Greece and resurgent Ukraine concerns were raised again, but i don't know how much of a catalyst these were.
GBP was net a little weaker on the session.
CHF was little changed after the huge overnight moves.
Oil had a minor swing but ends little changed. Gold similar.
