Forex trading headlines for Asia Friday 29 August 2014
- Reuters: Putin orders pro-Russia rebels to provide humanitarian corridor for encircled Ukraine troops to exit
- German finance minister Schaeuble: Says monetary policy can only buy time
- Here’s a EUR/CHF post … not news (but … about those guaranteed stop losses…)
- New Zealand building permits for July: +0.1% m/m
- UK data – Hometrack housing survey for August: +0.1% m/m (prior was +0.1%)
- Uk data – GfK Consumer Confidence for August: +1 (expected -1)
- ECB’s Nowotny says shares concerns about inflation, unemployment in Europe
Japan data today:
- Overall Household Spending y/y for July: -5.9% (expected -2.9%, prior was -3.0%)
- Jobless Rate for July: 3.8% (expected 3.7%, prior was 3.7%)
- Job-To-Applicant Ratio for July: 1.10 (expected 1.10, prior was 1.10)
- National CPI y/y for July: 3.4% (expected 3.4%, prior was 3.6%)
- National CPI y/y excluding Fresh Food for July: 3.3% (expected 3.3%, prior was 3.3%)
- National CPI excluding Food, Energy y/y for July: 2.3% (expected 2.3%, prior was 2.3%)
- Tokyo CPI y/y for August: 2.8% (expected 2.7%, prior was 2.8%)
- Tokyo CPI excluding Fresh Food y/y for August: 2.7% (expected 2.7%, prior was 2.8%)
- Tokyo CPI excluding Food, Energy y/y for August: 2.1% (expected 2.1%, prior was 2.1%)
- Retail Trade for July: -0.5% m/m (expected +0.3%, prior +0.5%)
- Retail Trade for July: +0.5% y/y (expected -0.2%, prior -0.6%)
- Industrial Production for July: +0.2% m/m (preliminary reading) (expected +1.0%, prior was -3.4%)
- Industrial Production for July: -0.9 % y/y (preliminary) (expected -0.1%, prior was +3.1%)
- More on the Japan data here: “Japanese inflation stalls, consumption sinks” & ” Japan factory production and sales disappoint”
- Japan finance minister Aso: Bad weather in July affected household consumption in July
- Reuters poll shows Japanese fund managers buying US equities, US bonds
- Japan data – July Vehicle Production: -1.7% y/y (vs. +6.6% prior)
- HSBC expects an RBA rate hike in Q2 of 2015 (refining call from Q1 of 2015)
- New Zealand: ANZ Business confidence for August: 24.4 (prior was 39.7)
- Australia data – Private Sector Credit m/m for July: +0.4% (vs. expected +0.5%)
- RBC on Japan portfolio flows … Japanese investors moving into foreign equities may continue yen weakness
- EUR – What Citi expect from Draghi and the ECB
- More on the month-end flows – Barclays ” … a large rebalancing away from the USD”
- New Zealand – Money supply M3 for July: +5.3% y/y (vs. prior was +5.4% y/y)
Not much of a session in Asia today, with sideways in fashion for the end of the week.
There was plenty of data out of Japan (see bullets, above), but little yen response. (Added … and, making a liar out of me, yen crosses edging up as we approach 0400GMT)
EUR, GBP, CHF, CAD too … very little movement outside of tiny ranges.
The old faithfuls that never let us down … let us down. AUD was stuck in barely a 10-point band, while at least the NZD did marginally better, drifting off 25 or so points from session highs as business confidence continued to fall rapidly – to lowest since December 2012 and down 46 points in 6 months! … (see bullets, above).
