Forex news for Asia trading Monday 10 November 2014
- UK’s Osborne accused of “smoke and mirrors” on the revised surcharge payment to EU
- China trade balance October USD +45.41 bln vs USD +42.3 bln exp
- The yen is 20% undervalued – BTMU
- 3 reasons why Goldman Sachs has conviction the dollar will continue to rally
- President Xi Jinping says risks to China’s economy are “not that scary”
- Catalan vote gathers more traction than expected
- Draghi not interested in Italian Presidency – report
- “Kuroda sprang easing surprise to head off damaging inflation forecast”
- Japan PM Abe rejects weekend talk of snap election
- EUR/CHF … potential for ‘landslide losses’?
- Japan government minister: Japan target corporatre tax cut of at least 2.5%
- China data – CPI for October +1.6% y/y (vs. expected +1.6%)
- The exchange link between Hong Kong and Shanghai will debut on November 17
- Is Japan’s sales tax increase debate ‘just for show’?
- China analyst says low inflation may see PBOC cut interest rates
There was very little market-impacting news over the weekend and through the Monday session in Asia today. The Friday US session move to weaken the USD continued on at the open and didn’t let up through the day. As I write most currencies are on or very near their session tops against the USD.
Crosses were not a lot more interesting, EUR/JPY is a little higher but off earlier tops, while EUR/CHF has recovered some of the losses from Friday & earlier on today.
Gold is running sideways after getting back up toward the important 1180 area; oil, too moved up from opening levels but has since settled sideways.
