Forex trading headlines for Asia Tuesday 7 October 2014
- New Zealand – NZIER Business Opinion Survey for Q3: 19 (prior was 32)
- Nurse in Spain tests positive for Ebola in first infection outside west Africa
- Australia – AIG Performance of Construction index for September: 59.1 (prior was 55.0)
- Australia – ANZ Roy Morgan weekly Consumer Sentiment: 112.6 (prior was 113.7)
- Bloomberg – “BOJ majority said to favour ditching 2-year inflation timeframe”
- Federal Reserve George: Sees Q3 GDP growth coming in over 3%
- BOJ Governor Kuroda speaking in parliament – Japan’s exports lack momentum
- New Zealand budget defecit wider than forecast in August – plus comments from NZ finmin
And, note: UPDATED! The BOJ announcement is expected later than thought
A day of waiting for the BOJ (we’re still waiting) and the RBA (see bullets, above) punctuated by a bout of USD strength that barely dented the overnight weakness moves.
EUR, GBP, yen, CHF, CAD, AUD, NZD all weekend (sorry about that, I don’t know what I was thinking) weakened to a greater or lesser degree – but there wasn’t a lot in it really.
Gold fell a few dollars, oil off around 70 cents from late US highs.
The RBA announcement was the day’s big event. The BOJ announcement was expected, but Kuroda was called before parliament, so the BOJ’s board meeting was adjourned for that (its now resumed, as of writing) but an announcement will be delayed (see bullets, above).
There was nothing much in the accompanying statement from Glenn Stevens, and after a spike down to just below 0.8730 the AUD/USD is back pretty much where it was prior to the announcement, maybe a few tics lower. Whatever it is that’s going to move the AUD in coming months, it ain’t gonna be the RBA changing rates … stability continues.
