Forex trading headlines for Asia Friday 22 August 2014
- Fed’s Plosser: Says he is concerned that monetary policy is not reacting to change in data and more here
- Nikkei: “Tokyo government may start playing the stock market”
- Protestors at Jackson Hole don’t want rate hikes
- Former Fed Vice Chair Donald Kohn says Fed could raise interest rates as early as H1 2015 if the labor market continues to improve
- CitiFX View that USD/JPY can run to 107/108 and even 110 … cite 3 reasons
- Reuters poll finds labour shortage costs in Japan
- New Zealand banks on prospects for further RBNZ rate hikes … and where to for the NZD?
- Apart from the central bankers, who is going to be at Jackson Hole, and who isn’t?
- Where to for the EUR/USD, EUR/GBP, EUR/JPY? Barclays & BNP forecasts and trades (entry, stops, targets etc.)
- Here is the Jackson Hole schedule … hot off the press!
- Chairman of HSBC warns that Scottish independence could prompt “capital flight” from the country, and leave its financial system in a “parlous state”
The Jackson Hole symposium begins in earnest Friday at 1400GMT, with opening remarks from Janet Yellen. In addition, there was no economic data released from Japan today, nor from any of the other major economies here. Hence, it was a reasonably subdued FX market in the Asian timezone today.
EUR, GBP, CHF, CAD all had a little wiggle in a tiny range. Even the yen was subdued, strengthening a little against the USD (USD/JPY down 20 points from session highs and the EUR (EUR/JPY declined not quite 20 points from session highs).
The AUD and Kiwi dollar often don’t let us down for a little action but restrained trading in these prevailed too. The AUD/USD ground out a small, but persistent gain, consolidating through the session above 0.93 and edging up above 0.9310.
NZD/USD gave a few points back early, dropping about 15 pips, but recovered pretty much all of that to end more-or-less flat for the day.
Oil was flat, gold pretty much so too … just a touch higher.
Regional equity markets were broadly a little higher, following the record high registered for the S&P500 on Thursday.
