Forex trading headlines for Asia Friday 04 April 2014
- China Banking Regulatory Commission tells banks to step up controls on bad loans\
- China Xinhua News reports on residential building collapse
- PBOC monetary policy meeting statement
- Is Australia about to end negative gearing?
There was no economic data scheduled for release during the Asian timezone, and little else of FX significance happened through the session.
Currency ranges were narrow and volumes were light, hardly surprising ahead of the NFP later today in the US.
Yen, GBP, CHF and EUR were all tightly range-bound.
The People’s Bank of China (PBOC) set the USD/CNY reference rate at its weakest since September 18, 2013, but even the yuan market was quiet after this.
NZD/USD ticked a little higher on the day, getting small above 0.8550 and settling around that level. The AUD followed a similar pattern, up just a little and then settling in a very narrow band.
We have some data coming up that could well spark some interest during the European session, including German factory orders, retail PMI figures from Europe. Then, simultaneously with the US NFP, we get employment figures from Canada. Stay tuned, its gonna get better!
