Forex trading headlines for Asia Tuesday 24 June 2014
- RBNZ’s Bascand: Says loan restrictions are impacting as expected
- Japan PM Abe will release the growth strategy today (June 24)
- CASS researcher says China should cut RRR for long-term time deposits
- China Daily commentary piece: China reserve ratio, rates cut, less likely in H2 of 2014
- Australia – ANZ Weekly Consumer Sentiment rises 2.4% to 105.7
- Australia overnight press: RBA’s Edwards says the gradual wind down of the mining boom will not be as bad as feared
- Northern China province unveils 65 projects – planned investment of more than CNY300 billion in 2014-15
- China Financial News reports researcher says the economy is on a stabilizing and improving trend in Q2
- Conference Board May Leading Economic Index for China +0.7%
- What is the equity crisis gauge? Is it flashing a warning?
Other:
- EUR/USD technical analysis charts – “EURUSD is forming a bear “wedge””
- Citi: EUR/GBP shorts: Lessons from the AUD/NZD trade (& at what price to sell a rally)
Tight ranges the order of the day for EUR/USD, GBP/USD and USD/CHF with not much in the way of catalysts to generate any movements in the Europeans.
USD/JPY, too was confined to a tight range, but the combination of a slightly softer EUR and USD/JPY on the session saw EUR/JPY drip a little lower.
AUD/USD chopped in a 10-odd point range, and the kiwi $ was choppy too, but in a 15-off point range. USD/CAD didn’t do much, after an early drift a fraction higher it lost a few tics in a consistent fashion down to below 1.0723 as of writing but still above (just) European lows from yesterday.
Oil weakened in the early going but stabilized and traded sideways for much of the session. Gold set a $4 range or so.
The Nikkei gained some ground in the Tokyo morning and through the lunch break.
