Forex news for Asia trading Tuesday 23 June 2015
- What Greece Means For EUR/USD - Goldman Sachs
- Soc Gen on optimism over Greece - spurring EUR sales
- Euro moves accelerating to the downside
- Cable sellers hit it hard
- China Markit Flash Manufacturing PMI for June: 49.6 (expected 49.4)
- JP Morgan says RBNZ to cut rates again, to 3% at July meeting
- Japan Markit/JMMA Manufacturing PMI, flash, for June: 49.9 (50.9 in May)
- Australia - Q1 house price index: +1.6% (expected is +2% q/q)
- China Securities Journal: Tight liquidity is temporary
- EUR/USD orders
- Want to train as a macro hedge fund trader? Here's your chance - 20 vacancies
- Conference Board Leading Index for Australia (April): -0.3% (prior -0.1%)
- Australia - ANZ weekly consumer sentiment: 114.0 (prior 114.5)
- China Securities Journal: Stock market correction will help mkt rise in long term
- TD on oil price - risk of leg down in coming months, should settle higher
- China Beige Book - Retail, property fuelling China recovery
Greece:
- Hollande: Debt relief for Greece won't be decided in the coming days
- Merkel: Greek talks did not go into detail
- Dijsselbloem: Hard work to do on Greece in coming hours
- EU's Grybauskaite: Still far away from Greece deal
Optimism that a deal on Greece was in sight today, although no firm agreement has been announced. The conclusion of the summit on Monday evening (Europe time) was accompanied by some encouraging words from the players in the negotiations. Its not conclusive, far from it, but the signs are better.
As Asian trading gathered pace into the mid-morning Tokyo and the entry of Singapore and Hong Kong into the market for the day a tone of US dollar strength accelerated, with sharp falls in EUR, GBP, CHF against the USD and a grind higher for USD/JPY.
Cable fell hard, with stops below 1.5800 providing fuel for the sell off, with GBP crosses lower as well.
EUR/USD had been looking heavy but accelerated to the downside soon after, plenty of stops (that were noted earlier in the orderboard post) as EUR longs closed out perhaps in response to the better tone coming from Brussels.
China returned from a holiday Monday with renewed selling hitting stock markets there. Slightly better flash PMI data, which was nonetheless still in contraction territory was noted, but the stock market didn;t care.
AUD and NZD, though, perhaps benefitted a little. Both fell on the session, but their performance relative to other currencies against the USD was a little better.
