Forex news for Asia trading Friday 6 February 2015
Reserve Bank of Australia – RBA Statement on Monetary Policy
- RBA SOMP: Australian dollar above most estimates of fair value
- ANZ on the Reserve Bank of Australia Statement on Monetary Policy
- Latest Bloomberg survey of forecasts for next RBA rate cut
- Morgan Stanley sees RBA cutting rates twice more
- “RBA’s forecast suggests more rate cuts to come”
Australia – politics
- Australian PM will face a challenge
- Reuters on Australian politics – replacing Abbott should give confidence a boost
China
- PBOC official says RRR cut not start of strong stimulus – Xinhau
- People’s Bank of China official: RRR cut not the start of strong stimulus
- More on People’s Bank of China official says RRR cut not the start of strong stimulus
- People’s Bank of China (PBOC) sets yuan reference rate at 6.1261
More:
- Shanghai economist says iron ore to fall into the $30s this year
- Bank of Japan (BOJ) deputy governor Iwata to appear in parliament
- Fed’s Plosser: Welcome to the Hotel California
- Australia – AIG Performance of Construction index for January: 45.9 (prior 44.4)
- “Is it time to peg the Australian dollar?”
- Dmitriev: Russia may be entering a new era of revolt
- Japan data – December leading index (preliminary): 105.2 (vs. expected 105.4)
The yen found some strength in Asia today; USD/JPY fell around 30 point from late US highs and EUR/JPY, helped along by a bit of a drift lower in EUR/USD fell around 50-odd points from its late US highs.
As is usual for a pre-NFP session there wasn’t a huge amount of activity, EUR/USD, cable and even USD/CHF were all subdued. As I write USD/CHF is getting a bit of a nudge to session lows.
The Australian dollar was marked higher on the release of the Reserve Bank of Australia’s quarterly Statement on Monetary Policy. Stops above 0.7850 were hit, but there was little follow through (barely any), AUD/USD trading back toward 0.7810 before settling above 0.7820 for the balance of the session (as of writing).
NZD/USD is sitting at session highs as we reach the close of local trading – it was an NZ holiday today.
Oil was up just a few cents on the day, and gold too is higher from earlier lows.
