Forex news for Asia trading Tuesday 18 November 2014
- Nikkei – ‘Abe set to announce sales tax delay, early elections’
- Nikkei: Japan eyes modest stimulus to lift consumption
- NHK reports that Japan PM Abe and finmin Aso have agreed on need to delay the next sales tax hike
- Australia – ANZ Roy Morgan weekly Consumer Sentiment: 113.0 (prior was 114.8)
- Credit Suisse; Reserve Bank of Australia need to cut to below 2%
- Australia – Conference Board Leading Index for September: -0.3% m/m (prior was -0.1%)
- Australian PM Abbott says he intends to export uranium to India
- EUR/CHF – the latest rumours on the size of the SNB buy orders, and where
- RBA – Minutes of the November 2014 Monetary Policy Meeting
- Japan chief cabinet secretary Suga: Topic of dissolving Diet has not come up
- All China October new home prices -2.6% y/y (prior -1.3%) according to Reuters
- China FDI +1.3% y/y
- Japan PM Abe to point to virtuous cycle emerging in the economy when calling election
Some USD weakness in the time zone today, EUR/USD grinding it out to a 30-odd point gain from its lows while cable gained just over 20.
AUD and NZD found a bid against the USD also. China property price losses and the RBA Minutes had very little effect on the AUD today.
EUR/CHF was net a little better bid on the session, but settling around 1.2014.
Yen didn’t do a huge amount, the session was spent awaiting word from Japanese PM Abe on the sales tax and election plans. It appears an announcement of some sort should come from him around 6 – 6.30pm Tokyo time (0900-0930GMT).
Oil was a little weaker on the session. Gold had a small chop but was more or less sideways for today above 1180.
Still to come:
