Forex trading headlines for Asia Tuesday 03 June 2014
- Japan business group seeks corporate tax cut to 25%
- New Zealand – Quarterly terms of trade index, for Q1 2014: +1.8% q/q
- Japan Monetary base for May: 45.6% y/y (prior 48.5% y/y)
- Comments from Bank of Japan (BOJ) Governor Kuroda here and here
- Comments from BOJ deputy governor Iwata here
- Japan – GPIF’s asset allocation committee head says raising Japan stock weighting to 20% wouldn’t be too high
- China official non-manufacturing PMI: 55.5 (vs.prior 54.8)
- Australia – Retail Sales for April: +0.2 (vs.expected 0.3%m/m)
- Australia – Q1 Balance of Payments Current Account Balance: -5.7bn (vs. expected -7.0bn)
- Japan – Labor Cash earnings for April: +0.9% y/y (expected +0.4%)
- China’s HSBC Manufacturing PMI for May: 49.4 (vs. expected 49.7)
EUR, CHF and GBP were all bound in tight ranges during the Asian timezone, although EUR/USD did manage to tick a few points higher.
USD/JPY was flat on the session also, although the Nikkei managed to make highs it hadn’t seen since early April.
AUD/USD had a 20-odd point rangebound session, with minor reactions to the data flow. the market is waiting on the RBA announcement due at 0430GMT. NZD/USD had a quiet rangebound session too, but found notable support ahead of 0.8435.
