Forex trading headlines for Asia Wednesday March 26 2014
- North Korea fires 2 mid-range ballistic missiles toward Japan Sea – Yonhap
- Philip Lowe, Deputy Governor RBA – comments on the yaun
- Federal Reserve Plosser: Reiterates favours rules-based policy over increased discretion and more from Plosser here and here
- Japan – Corporate Service Price Index for February: 0.7% y/y (vs. expected +0.8%)
- Aide to Japan PM: BOJ decision on extra easing possible in May
- China bank solvency concerns: Sheyang county governor urges locals not to panic
- RBA Financial Stability Review released: Deleveraging has run its course
- RBNZ – February low-deposit loans 5.2% of total new lending
- China GDP growth to stabilize in 7 to 7.5% range in H2: Dong
- RBA Governor Stevens speech didn’t ‘jawbone’ the AUD lower
- Comments from Stevens after his speech – where he did jawbone just a little
- Mohamed El-Erian: Individual central banks will try to implement more differentiated monetary policy
NZD and AUD the movers in Asia today. NZD traded quietly higher for the session without much in the way of visible catalysts. AUD/USD drifted ever so slightly lower throughout much of the day ahead of RBA Steven’s speech (see bullets, above), and the traded up 25-odd points after the speech text was released. His comments in the Q&A following (see bullets, above) did not have much of an impact on the rate, it started ticking higher once Stevens concluded.
EUR/USD drifted just more than 10 points lower, GBP/USD off pretty much the same amount; the CHF weakening ever so slightly too.
USD/CAD was flat around 1.1155/60.
USD/JPY had a sideways day; 102.20/40 is being generous to the range.
