Forex trading headlines for Asia Tuesday 10 June 2014
- New Zealand ANZ Truckometer for May: -2.1% (prior was +1.2%)
- IMF statement on New Zealand – Key external risk is China
- New Zealand Q1 Manufacturing activity data
- British Retail Consortium (BRC) May retail like-for-like sales: +0.5% (vs. expected +1.6%)
- Japan – April Tertiary Industry index -5.4% m/m (expected -3.4%)
- Japan money stock data
- China RRR cut is expected to release CNY50 billion to CNY100 billion in funds
- Australia – Home loans m/m: 0.0% (vs. expected +0.2%)
- Australia – National Australia Bank business confidence for May: 7 (prior was 6)
- Australia – ANZ job advertisements for May: -5.6% (prior was +1.9% m/m)
- China CPI for May: +2.5% y/y (vs. +2.4% expected)
- China PPI for May: -1.4% y/y (vs. -1.5% expected)
- People’s Bank of China (PBOC) sets yuan reference rate at 6.1451, yuan higher again
USD/JPY tumbled a few points today. It sat around overnight highs in the early going but as Tokyo entered for the session it drifted lower, losing about 20-odd points. The data from Japan was a little weaker than expected (see bullets, above), but wasn’t a big focus.
Cable managed to gain a few points from opening area lows, putting on about 15 points before drifting back just a tad. EUR and CHF did very little indeed.
AUD and NZD found a bit of buying, both gaining around 20 or so points from overnight lows. there was plenty of Aussie and Chinese data today, quite high-priority items (see bullets, above) but the impact was small.
