Forex news for Asia trading Tuesday 11 November 2014
- New Zealand data – ANZ Truckometer for October: +1.6% m/m (vs. prior +1.8%)
- Canadian Finance Minister Oliver is to release a budget update on November 12
- New Zealand October Electronic Card Transactions – Retail: +1.0% m/m (vs. +0.5% expected)
- And … this again … Yomiuri: Abe may dissolve parliament this month on tax delay
- Fed’s Rosengren: Should leave accommodation in place until certain 2% inflation target will be met
- And more from Fed’s Rosengren: Recent appreciation of US dollar not a concern to him
- Japan data – BOP current account: ¥ 963.0B (vs. expected ¥ 537.7B) and bank lending data
- UK data – BRC Sales like-for-like (October): 0.0% y/y (vs. -0.5% expected)
- Australia- NAB Business Conditions – biggest jump on record!
- Australia – House Price Index for Q3: +1.5% q/q (vs. +1.5% expected)
- Citi says ‘Iron Ore Seen at Less Than $60′ – views also from Goldman Sachs and others
- China expected to lower CPI target according to analysts
- Australian Treasurer Hockey: Fall in iron ore price to have budget impact
- “A Trader’s Guide to Japanese Policy Makers’ Language on the Yen “
- NZD traders – action from the RBNZ coming up tomorrow (preview)
- Demand for EUR/CHF options seen ahead of gold referendum and SNB policy meeting
Yen weakness played out a little further today in Asia with USD/JPY pushing slowly above 115 again and EUR/JPY testing to 143.00.
The USD was fairly sedate, EUR/USD, GBP/USD both marginally higher but around mid-range as I write.
AUD/USD. though, has managed to sustain its small gain a little better, the huge jump in business conditions (see bullets, above) seemingly catalysing (if that’s a word?) some buyers. (Added – Murphy’s law dictates that just after I post the wrap the AUD/USD gets hit … now back well below session highs and no longer looking so good … meanwhile USD/JPY testing to 115.25 and new session highs)
Gold followed a similar sort of pattern to the EUR and GBP, up from its lows but mid-range-ish as I type.
Oil, though, was a touch weaker.
EUR/CHF remained mostly heavy through the session but off its near 1.2020 lows by a few ticks. There is a good piece on the Swiss gold referendum here: Swiss gold referendum and SNB risk
