Forex trading headlines for Asia Tuesday 12 August 2014
- New Zealand ANZ Truckometer (heavy) for July: +2.6% (prior was -0.7%)
- UK data – British Retail Consortium (BRC) July retail like-for-like sales: -0.3 % y/y (expected +0.9%)
- China Securities Journal: Yuan won’t simply appreciate in H2, may continue fluctuating
- ANZ Roy Morgan weekly Consumer Sentiment for the week ended August 10: 108.5 (prior was 115.0)
- Singapore Q2 GDP grows annualized 0.1% q/q – comes in above expectations q/q
- Shanghai Securities News: Mild recovery in developed countries stable domestic economy will help improve China
- Japan PPI for July: +4.3% y/y (vs. expected was +4.4%y/y)
- Australia – National Australia Bank business confidence for July: +11 (vs. prior was 8)
- Australia – House price index for Q2: +1.8% (vs. expected +1.0% q/q)
- New Zealand July residential house price index -0.7% m/m and +5.9% y/y
- JOLTS data coming up in the US on Tuesday – a quick preview
- FT: “Unwary yield hunters risk liquidity trap” (ps. lessons for currency traders in here too)
The USD had a reasonable day in Asia today … gaining ground nearly everywhere.
EUR/USD had a big move for this timezone, losing around 20-odd points, while cable too saw losses, down 25 or so points from early Asian highs.
USD/JPY had a steady march higher (not by a huge amount, up around 20 points from lows at one stage) but ran into offers ahead of 102.40. EUR/JPY was a laggard, though, of course.
OIl and Gold were relatively quiet, gold down and oil basically sideways.
AUD/USD lost ground as the USD broadly gained, but managed to jump on the release of the 0130GMT data (house prices, business confidence … see bullets, above). The jump didn’t follow through and the AUD stabilized 0.9260/65, where it is as I write.
The trimmed down Kiwi was today’s Biggest Loser …. NZD/USD selling and AUD/NZD buying seeing it lose more than 40 points against the USD and 50-odd against the Aussie. The NZD is on its lows as I write.
