Forex trading headlines for Asia Thursday 1 May 2014
- Bank of Canada’s Governor Poloz: Terms of trade has been an important driver of the CAD
- IMF approves Ukraine loan of $17bn over two years
- Australia – AIG Performance of Manufacturing index for April: 44.8 (prior was 47.9)
- Australia – RPData/Rismark house price index for April: +0.3% (prior was 2.3%)
- China manufacturing PMI for April: 50.4 (vs. expected 50.5)
- Australia Q1 export & import price indices: +3.6% for exports, +3.2% for imports
The May Day holiday saw Singapore, Hong Kong and China markets closed, leaving Australia, New Zealand and Japan still open.
Ranges were narrow on the whole.
EUR/USD, Cable and USD/CHF all traded very quietly in very narrow ranges, a disappointing session after a busy Europe and the FOMC meeting in the US. But hardly surprising.
USD/JPY, too had a small range, from 102.10 in late US trading to test toward 102.30 and then a chop back toward 10 before settling around 102.25. The China PMI was the big data release of the day, it was a catalyst for the mid-morning (Tokyo time) dip in the Nikkei and USD/JPY and therefore the yen crosses too.
NZD/USD tracked sideways in a tight range above 0.8600.
The same can be said of the AUD/USD – it tested above 0.9300 but sellers restricted it to an 06 high, not troubling the stops that sit above 10/15.
