Forex news for Asia trading Wednesday 26 November 2014
- Saudi journalist says no OPEC cut on Thursday
- CME hikes oil margins
- Canada releases new budget projections
- GBP/USD … US Justice Department investigating possible HSBC leak to hedge fund
- JP Morgan – raises forecast for USD/JPY
- Australia – Construction work done for Q3: -2.2% q/q (expected -1.9%)
- Goldman Sachs: PBOC may use liquidity injections instead of further rate cuts
- PBOC adviser says the bank is to wait for Q4 data before considering more cuts
- Speech by BOJ’s Board Member Shirai: “Japan’s Economic Activity, Prices, and Monetary Policy”
- China rate cut to ” channel more wealth to the masses and help boost consumption”
Oil continued its drop in late US/early Asia but bounced a little as the session progressed here today. Gold was sideways.
Currencies were overall subdued, but there was some movement in the yen & aussie.
USD/JPY tests 118.00 again during the early going but failed to sustain its tic higher, dropping away by around 25 points as the session unfolded. As I write is midrange.
AUD/USD ticked off its overnight lows, rallying a decent 40 or so points before the selling resistance proved too much for it, and it has given back much of its gain. The data today (construction work, bullet above) is the first input we have seen to Q3 GDP and it wasn’t strong, coming in lower again and below subdued expectations.
EUR/CHF lost a few tics net over the session
