Forex trading headlines for Asia Tuesday 19 August 2014
- Japan PM Abe to reshuffle cabinet … Economy minister Amari and Finance minister Aso are safe
- US President Obama comments on the wires – Iraq and Ferguson
- New Zealand Quarterly PPI figures for Q2
- Goldman Sachs technical analysis of GBP/USD
- Shanghai Securities News: China H2 CPI may rise 2.5% y/y
- Australia ANZ Roy Morgan weekly Consumer Sentiment for the week ended August 17: 112.5 (prior was 108.5)
- New Zealand Treasury publishes pre-election fiscal update
- Minutes of August 2014 Monetary Policy Meeting of the Reserve Bank of Australia Board
- New Zealand 2 year inflation expectations for Q3: 2.23 (prior was +2.36%)
- Goldman Sachs on Jackson Hole – The ‘what to expect’ diary update for Tuesday 19 August 2014
NZD was sold heavily throughout the session, but found support ahead of 0.8420. Data today included softer PPI and NZ Treasury’s pre-election fiscal update, neither of which supported the currency. AUD, meanwhile, caught a bid after the RBA Minutes were published. Notably, the RBA specifically mentioned easing financial conditions in Australia as banks cuts rates. This is read as a further decreasing the chances of an RBA rate cut (all else being equal).
Cable lost ground early on (in a tight range nonetheless), but did manage to recover from around 1.6715 again. EUR and CHF were both marginally weaker.
Yen sat in a very tight range.
Heads up for New Zealand dollar traders – coming up Tuesday (US time) Global Dairy Trade auction
