Forex news for Asia trading Thursday 20 November 2014
- Japan Trade balance for October: Y -710.0bn (vs. expected Y -1027.0bn)
- Goldman Sachs – Oil price to keep falling, US dollar to keep gaining … and more
- New Zealand – ANZ job advertisements for October: -0.3% m/m (prior was +2.3%)
- New Zealand quarterly PPI figures for Q3: Input -1.5% q/q and output -1.1% q/q
- Goldman Sachs – Australian dollar to stay under downward pressure
- China Securities Journal: China should cut excessive expansion of investment
- Japan Buying Foreign Bonds Y 212.5bn (and the rest of this data)
- RBA October Forex transactions data
- Japan – Flash Manufacturing PMI for November: 52.1 (vs. expected 52.7)
- China HSBC flash manufacturing PMI for November: 50.0 (expected 50.2)
- Westpac: “AUD is likely to trend higher against the USD”
A great result from the Japanese trade data for October, with exports rising at their fastest pace in 9 months. After a small pullback, though, the USD/JPY motored higher nonetheless, registering another fresh 7-year high on the session.
Yen crosses, of course, along for the ride (maths is like that
)
Elsewhere it was a day for the scalpers and very short-term people, with narrow ranges prevailing in the majors. AUD and NZD, though, were net a little weaker. The HSBC China flash manufacturing PMI came in lower again, and below expectations, bang on 50.0 …. which I guess still counts as expansion, but didn’t impress the markets.
Oil and gold both barely changed on the session.
Still to come!
