Forex news for Asia trading Wednesday 24 June 2015
- Greece - "most severe test" could come on July 14
- Conference Board China Leading Economic Index for May +1.1% m/m
- Westpac MNI China Consumer Sentiment for June: +1.1% m/m
- US GDP Q1 data due Wednesday - quick preview
- BoA / Merrill Lynch on EUR/USD - targets parity by year end
- AUD and NZD edging higher
- Bank of Japan May monetary policy meeting Minutes
- Japan Services PPI for May: +0.6% y/y (+0.5% expected)
- Kuwait's oil minister says price will rise in Q4 as supply drops
- WSJ on freight: "costs for everything ... are primed to rise" in an improving economy
- Deutsche Bank expects negative Greece headlines in coming days. Here's why.
- Forex technical analysis: EURUSD continues consolidation/correction phase
- API crude oil inventories -3.2mln bbls
A light news flow day in Asia, matched by a narrow-range, little interest session for the currencies.
EUR, CHF, GBP were all a little up against the USD with little fresh impetus to drive them.
USD/JPY had a tight range; we did have BOJ Minutes from the May meeting today but there was very little impact - USD/JPY lost a few points then regained them going into the fix time before settling then into a barely 5 point range (as of writing).
AUD and NZD showed some promise, ticking higher in the mid-morning Sydney time. AUD took out a few stops above 0.7750 and topped out, while the NZD/USD briefly got above 0.6870 before it to drifted lower and settled more or less sideways.
We had data on oil inventories out late in the NY timezone, but the impact on the oil price of a bigger drawdown than was expected had a muted directional impact, WTI was pretty much sideways for the following hour. Gold had a very small move higher in the early going but soon gave it back is more or less unchanged on the session.
In Japan, the Nikkei stock index hit its highest since December 1996.
Is this real?
- Lexus Hoverboard!
