- Late NY saw the release of the US Treasury’s semi-annual currency report to Congress – it did not name China as a currency manipulator
- Sth Korean October Current Account Surplus $4.42B (SA) (vs. 3.75B -revised – for Sept.)
- Chicago Fed head Evans (non-voter on FOMC in 2012, votes again in 2013) gave a speech and answered question in Toronto Tuesday evening. He continued his dovish stance: Wants to see low rates until jobless rates hits 6.5% as long as inflation stays below 2.5%. More.
- Australia’s Bureau of Resources and Energy Economics reported Higher $ mining investment, on fewer projects , cost blowouts accounting for some of the increase in expense
- Australian construction data for Q3 showed an improved, but generally lower than expected result at +1.7% (vs. +0.2% for Q2). More details here.
- Press reports in Japan of a government announcement of a further package of stimulus, amounting to Y880B, to be made on Friday
- Stronger than projected GDP growth in The Philippines, GDP YoY growth at +7.1% vs 5 to 6 % projected
- China’s Commerce Minister was reported as saying China is certain to achieve GDP of 7.5% or above in 2012 & sees world trade growth in 2012 at 2.5%; also that China is to open more areas to foreign investment
The Yen crosses the movers in Asia today as more Yen strength was seen, from 82.21 USD/JPY down to 81.79 before finding support. AUD, EUR and GBP all lost ground as the Yen strenghened, but the moves were limited.
AUDUSD fell only as low as 1.0433,there are bids at 1.0425/30 in the pair which held it. Topside, though is limited by sells above 1.0455.
EUR/USD held above its late NY lows at 1.2925, only back higher to just above 1.0442.
Cable generally the weakest, down to 1.6009. It did get back to 1.6022 but didn’t sustain there and fell back to its lows over the Tokyo lunch period.
