Forex news for Asia trading Wednesday 22 October 2014
- Goldman Sachs – Weak employment, overvalued Australian dollar demands RBA rate cut
- ForexLive Preview – UK MPC Minutes Wed 22 Oct
- Australia – Conference Board Leading Index for August: -0.2% (prior was +0.5%)
- China Securities Journal: China should not be scared of slowing growth
- Australia – Westpac / Melbourne Institute (MI) Leading Index for September: -0.1% m/m (prior was -0.1%)
- Aust media: Australian coal exports will be exempt from new tariffs imposed by China
- Japan September trade balance: Y -958.3bn (expected Y -780.0bn)
- Australia Q3 CPI: +0.5 % q/q (vs. expected +0.4%)
- PIMCO’s Mead: Australian dollar ‘just starting to show some cracks’
- Adviser to Japan PM, Honda: Next sales tax hike should be delayed until April 2017
USD/JPY found an early high above 107. but spent the balance of the session dribbling a little lower. A very slight gain in the EUR/USD was enough to keep EUR/JPY narrowly tracking sideways. Cable, too, drifted slightly north, as the market awaited the MPC Minutes today.
NZD and AUD also mainly drifted higher in the session today. the AUD had a bit of a wobble on the release of Q3 CPI data, plunging below 0.8750 and jumping back up again nearly as quickly. The data confirmed the inflation outllok in Australia as benign (with the exception of housing – (see bullets, above)).
Oil and gold pretty much laid out a sideways track during the session too.
USD/CAD was barely changed ahead of the Polozoctomy coming up in the America’s session tonight (Preview: Bank of Canada decision could confuse and Forex Technical Analysis. A preview of the key levels for the USDCAD)
