Forex trading headlines for Asia Tuesday 22 July 2014
- Kyodo reports on Japan economy minister Amari: Japan to decide on 10% sales tax hike in early December
- Australia – ANZ Roy Morgan weekly Consumer Sentiment for the week ended July 20: 113.5 (prior 108.7)
- Conference Board Leading Economic Index for China up 1.3% in June
- Japan Cabinet Office – Estimates real GDP growth at 1.2% in FY 2014/15
- RBA head Stevens: Doesn’t comment directly on AUD or policy in speech
- Japan finance minister Aso: Japan exports not growing as much as expected
- FT: China debt tops 250% of national income
More:
- China’s National Business Daily reports on another company bond default
- Soros chart shows EUR/JPY will surge to a six-year high … What do you think?
- Japan analyst says Australian bond yields to fall to US levels … “It’s a deflationary situation”
- What’s going on at the BOJ? … Bank of Japan Majority Won’t Be Swayed by Kuroda Ideology
Yen had a slightly weaker tone throughout the session today, with both USd/JPY and crosses trading higher.
AUD/USD fell away in the early going, with seller active ahead of RBA speeches scheduled (most notably from governor Stevens) , but found buying ahead of 0.9360, from where it recovered its early morning losses. There was a bout of short-covering on the release of Stevens’ speech, in which he didn’t try to talk down the currency.
NZD/USD lost some ground in the early going also, recovering to bounce toward 0.8690.
EUR, GBP, CHF, CAD – not much action at all.
Oil traded sideways for much of the session, but gained 50+ cents in the half hour or so before writing this, and I leave it near session highs. Gold – quietly range bound today.
