Forex news for Asia trading Friday 23 April 2015
- China to increase frequency of monetary policy adjustments: planner
- Goldman Sachs - The market is misinterpreting the ECB & BOJ (& updates EUR/USD outlook)
- Text of speech from BOJ's Nakaso: Asian Economy: Past, Present, and Future
- Bloomberg survey: 23 of 26 surveyed economists expect RBA rate cut on May 5
- Overnight press: Australia on course for growth downgrade
- China CSRC : Online rumour of raising of stamp tax is untrue
- "Iron Ore is still rallying and that's great for Australian Miners"
- Bank of Japan (BOJ) Governor Kuroda: Output gap at around zero, will improve ahead
- Rumour: China will use stock trading stamp taxes to cool market
- Japan finance minister Aso: Continues to expect BOJ to carry out monetary easing
- Analyst looks ahead to next BOJ meeting - no boost to stimulus just on low CPI
- Comments from Chinese Premier Li on the economy & reform
- Japan - Services PPI for March: +3.2% y/y (vs. expected +3.3%)
- Time to add a new word to your vocabulary ... 'Grimbo'
- Euro feud - What are the chances of a Greek exit? Survey says ...
- Here are the only 2 (of 20) not expecting an RBA rate cut next meeting (& why)
- Despite the escape Westpac still expect AUD/NZD parity, RBA cut the catalyst
- BOJ Governor Kuroda spoke yesterday ahead of the April 30 policy meeting
- M6.4 earthquake in central New Zealand
EUR/USD, GBP/USD end the session lower by 30 or 40 points or so. Not a huge move, but notable for this timezone. After big upmoves in Europe and then sideways in US time it appears market dynamics at play, there wasn't fresh news around to account for much movement. USD/CHF followed the same (but inverted, of course) pattern for a softer CHF.
USD/JPY was rangebound and ends the session pretty much where I walked in. Speculation continues to surround the BOJ meeting on April 30 (see bullets, above).
AUD popped up toward 0.78, but not quit stretching that far before falling away 30 or so points. NZd/USD fell harder, losing around 60 points from very early highs. A late earthquake rocked building in Wellington which saw NZD hit its low for the session and bounce 15 points to be around 0.7556 as I update.
A rumour in China of Chinese authorities to use stock trading stamp tax to cool the market was swiftly officially denied. The Shaghai Composite is a little lower, as is the Nikkei in Japan. HK is up small while the ASX outperformed all of them today.
Gold is done a few dollars on the session, oil is barely changed.
