Forex news for Asia trading Monday 12 January 2015
- Former Fitch Ratings analyst says dangers are increasing as the outlook for China’s growth deteriorates.
- Japan PM Abe: Fiscal year 15 budget will revive the economy and rebuild finances
- Japan Cabinet Office – Raises real GDP growth forecast to 1.5% (from 1.4% previously)
- For the People’s Bank of China (PBOC) “the single most important source of liquidity is gone”
- Here are 4 analysts who agree Grexit is unlikely
- UBS chairman Weber: ECB’s Draghi likely to announce QE action on January 22
- Goldman Sachs offers up differing views on the future for oil prices
- China Financial News – PBOC says no shift in monetary policy
- ECB QE debate is reaching a climax
- Australia – November Home loans: -0.7% m/m (expected +1.7%)
- Australia – ANZ job advertisements for December: +1.8% m/m (+0.7% prior)
- Australia press: “$A ‘a hair’s breadth away’ from $NZ parity”
- ECB’s Visco warns of deflation risk, urges action on bond buying
- Bloomberg live testing a Greek drachma (POST EUR) listing
- “The risk of an accidental Grexit is real” 2
- Greek leftist party Syriza maintains lead in polls
- Swiss National Bank should consider easing its three-year-cap – former adviser
- Greek central bank says deposit outflow situation under control
- Japan local election result seen as a blow to PM Abe
Weekend
- A time to reflect as the unity rally gets underway in Paris
- Japan set to propose a 2015-16 budget of JPY 96.3 trillion
- Court ruling this week to play its part in the ECB QE decision
- What are the broader risks if the ECB doesn’t do sovereign QE?
- Deflation could cause a wave of defaults in China
- Ratings watch 2015
- Russia “highly likely” to demand early repayment of Ukraine’s $3bln debt
- Digging down into the 2014 US job picture
It was a market holiday in Japan today, but that didn’t prevent a few FX rate moves.
AUD and NZD were notable gainers against the USD, as was the yen.
EUR and GBP traded higher a little but failed to hold the gains (as of writing).
USD/JPY dropped nearly 40 points from the very early session high despite chatter in the market that Abe’s setback in the weekend election result (see bullets, above) may see further BOJ easing as 3rd arrow reforms face stiffer headwinds. News also out of Japan over the weekend on the upcoming budget.
AUD and NZD both gained well against the USD, the AUD rallying despite softer housing finance data, but stopping short (as of writing) of having a look at the stop loss buy orders nestled above 0.8250.
