Forex trading headlines for Asia Friday 10 October 2014
- China to again levy coal import tariffs
- Japan data – tertiary industry index and bank lending
- Bank of Japan September policy meeting minutes out
- Australia data – Home loans: -0.9 % m/m (vs. expected +0.2%)
- RBA Edey: Seeing some concentration of risk-taking in economy, particularly in housing
- Anti-EU UKIP wins first seat in British parliament
Data from Australia today on housing finance (see bullets, above) came in a little weaker, but the impact on the currency was muted. AUD/USD lost 20 points from early session highs and another 10 around the data release but recovered a good portion of its losses before stabilising. NZD traded in a smaller range, the Kiwi (as of writing) only little changed against the AUD on the session, despite a few wiggles.
USD/JPY, too, had around a 30-point range, setting early highs then lows towards Tokyo lunch break before revisiting towards session highs and stabilising above 107.80 (as of writing). EUR/JPY followed a similar sort of pattern but gained higher on the lunchtime losses for the yen.
EUR/USD, meanwhile, ticked up 30 or so points during Tokyo morning, only to give back just over half its gain to be around 1.2694 as I type this up.
Cable was little changed on the session.
No news during the timezone of much relevance to the CAD, it lost a little ground against the USD.
Oil saw further losses early (in the hour after I got in), retraced a little but is running sideways along its session lows as I post.
Gold is down a few dollars on the session only in quiet trade.
Heads-up for traders – there are going to be PLENTY of central bank speeches this weekend
