Forex news for Asia trading Tuesday 20 January 2015
- ANZ says the Reserve Bank of New Zealand on hold until late 2016
- 2 Big questions for a souring global economy
- 5 Takeaways From China’s GDP
- IMF cuts 2015 global growth forecast to 3.5% (from 3.8% in October)
- ANZ cuts Fonterra milk payout forecast to NZ$4.35/kg
- Nomura on the China GDP data … China Rebound in growth unlikely to be sustained
- UBS economist says 2015 China GDP growth to slow to 6.8%
- China Q4 GDP 7.3% y/y (vs. +7.2% expected)
- China data – December retail sales, industrial production, and more
- Japan economy minister Amari: Up to the BOJ re 2 year target
- Australia police say terror threat against police changed to ‘high’
- Greek election: “Syriza extends poll lead as Greece’s election day nears
- Reuters Tankan: Japan manufacturers index +9 in January ( was +10 in December)
- China Securities Journal commentary: Yuan may depreciate slightly this year
- HSBC not on the RBA rate cut bandwagon – next move a hike
- HSBC reiterates forecasts of RBNZ Rate Rise in Q4 of 2015
- Australia – ANZ Roy Morgan weekly Consumer Sentiment: 113.6 (prior was 112)
- Dukascopy clears negative client balances
- NZIER Q4 New Zealand business confidence 23 vs 19 prior
- China may delay new margin trading rollover rules
It was all about the Chinese Q4 GDP in Asia today, until the IMF released its updated World Economic Outlook (see bullets, above).
Cable was a big mover in Asia today, any move in GBP is welcome! Weakness during the US holiday session carried through into the early Asian morning, only halting just ahead of 1.5050.
EUR/USD lost some ground … trickling a little lower after the US ‘close’ (if you can close after a holiday, that is).
USD/JOY, meanwhile, punched out a solid gain in Tokyo, well up through 118.00, dragging EUR/JPY higher along with it. There didn’t seem to be a clear catalyst. Pick one or more of these if you are after a narrative: gotobi day, stop loss buying, Hilsenrath, the BOJ meeting. M’eh.
AUD and NZD both lost ground in the early going, leading up to Chinese GDP …. but on the release (along with the other Chinese data) both jumped. The rally was short-lived, though, both clubbed quickly back through the prior session lows – with the kiwi dropping further still while the AUD settled sideways around the lows (and bouncing a little now (as of writing)).
Still to come! … New Zealand dollar traders- heads up for dairy auction tonight
