Forex news for Asia trading Friday 31 October 2014
- New Zealand September Building Consents (Permits): -12.2% m/m (vs. expected +1.0%)
- EU, Russia, Ukraine signing gas supply accord
- Yomiuri: Japan may prepare economic stimulus of 3 to 4 tln yen
- Japan National CPI for September: 3.2% (vs. expected 3.3%) plus the rest of the Japanese CPI data
- Japan data – household spending, jobless rate and job-to-applicant ratio
- Japan economy minister Amari: Abe’s cabinet is ready to take steps as needed (re stimulus package)
- UK data – GfK Consumer Confidence for October: -2 (vs. expected -1)
- Reuters sources say Japan govt to approve GPIF reallocation today
- Australia data – Q3 PPI: +0.2% q/q (prior was -0.1%)
- Australia – Australia data – Q3 PPI: +0.2% q/q (prior was -0.1%)
- New Zealand – September money supply M3: +5.3% y/y (vs. prior +5.2%)
- New Zealand – China lifts the ban on Fonterra’s whey products
Very little movement on the currencies in the Asian timezone today; EUR, GBP, CHF confined to tight ranges; all just a fraction lower for the session.
Yen crosses were relatively quiet too ahead of the BOJ announcement. USD/JPY edged towards the overnight high, with EUR/JPY just a little below it for the session.
AUD was flattish too.
The NZD had some activity, dropping after the building permit data. It found a bid on the Fonterra news (see bullets, above), but was rejected again just above 0.7850.
Oil and gold were both sideways too, running pretty much along the overnight lows or barely above.
…
AND THEN …
BOJ announcement: EASES FURTHER – Expands monetary base target
On the BOJ announcement of unexpected further easing the Nikkei soared and the yen was dumped. Up above 110 against the USD and to a 6 year low for the yen.
