Forex trading headlines for Asia Friday 9 May 2014
- RBNZ Spencer: LVR restricitions working to reduce the housing market imbalance
- Russia will will only supply Ukraine with gas that has been paid for in advance
- New Zealand April Electronic Card Transactions- Retail: +0.3% m/m (vs. expected +0.6%)
- Japan: Abe advisers to propose cutting corporate tax to 20% level
- China government body says prices of iron ore expected to fall further
- China official: Current economic growth is in line with potential
- Reserve Bank of Australia (RBA) quarterly Statement on Monetary Policy
- China CPI and PPI for April: CPI +1.8% (vs. +2.1% expected)
EUR/USD sat pretty much on or within a whisker of its US lows throughout the session. GBP/USD showed a little more activity, grinding its way down ever so slowly toward 1.6910. The Swiss franc surprised (ha, had you there for a second, didn’t I?) … didn’t do a great deal either, USD/CHF sitting around 0.8805. With those moves, the EUR cross against the GBP and CHF gained ever so marginally. EUR/JPY had a slightly improve from its lows, with the USD/JPY helping it along the way, trading 15-odd points stronger. A reversal in the GBP/USD later, back toward earlier session mid-point (as I type now) saw EUR/GBP back toward lows. Ranges were very small, though.
The kiwi was heavy in the early going. it dipped briefly under some short-term technical area around 0.8620/25 but bounced from 10/15 ticking its way towards 0.8645.
AUD/USD remained heavy but tightly bound, another grinding mover as it ticked through 0.9360 and 50, but below 45 was too far for it on the session, coming back above 60.
Overall, then, a snoozer of a Friday in Asia.
