Forex news for Asia trading Tuesday 17 March 2015
- Australian dollar at its lowest for more than 5 years (bear with me here ...)
- BOJ announcement: Monetary policy held steady
- China commerce ministry: Euro's slide vs yuan increases pressure on China's exports
- China - 7-day reverse repo yield lower, stocks hit 7-year high, Moody's comments
- How to turn $1K into $7.2 million in 9 months... and live free rent for 7 years!
- Fraud Alert ... New Breed of Forex Scams
- RBA Minutes out .... response
- RBA March meeting Minutes: Considered rate cut, decided to wait 4 more data
- Reuters survey on Japan firms' wage hike plans
- Japan finance minister Aso: Will take a while longer to exit deflation
- Australian dollar insider traders (NAB trader and ABS employee) sentenced to jail terms
- Barclays on oil - 'Remain cautious" on Iran sanctions removal impact
- Japan press: "Japan's production sites busiest in year"
- Australia - ANZ Roy Morgan weekly Consumer Sentiment: 110.8 (prior 110.3)
We've got some central bank action still to come this week, with the Federal Reserve on Wednesday and the SNB on Thursday, but the ball started rolling today in Asia with Minutes from the RBA's March meeting followed by the Bank of Japan announcement after their 2-day policy meeting.
Let's hope the market response later in the week is more whelming, 'cause it was very underwhelming today.
AUD/USD fell about 25 points on the release of the RBA Minutes. The Minutes showed (in brief, see bullets above for more)the board discussed a March cut but decided to wait for more data on the economy's response. This raised some chatter about a greater potential for an April cut ... but we'll have to watch what the AUD does, how the data develops, and what the FOMC decides, 'cause that's what the Reserve Bank of Australia will be doing. AUD/USD remained heavy, but in a subdued range; AUD/NZD sellers contributed to the softness in AUD/USD. As i update the AUD/USD is near post-Minutes highs.
NZD/USD performed better, its only just off session highs as I update. There's a a bit on the agenda for the NZD in the UK timezone today (I'm coming to that).
Meanwhile, EUR, GBP, CHF .... all pretty much subdued and nothing to write hime about, so I won't.
USD/JPY tested 121.50 and has fallen off 15-20 odd points in the wake of the BOJ announcement today, which didn't contain much to surprise the market.
Unfortunately it very much feels like the market treads water into the FOMC announcement ... but there is still plenty of time ahead and Europe/US activity has not been disappointing lately.
Still to come!
