Forex news for Asia trading Friday 10 November 2017
- Japan data - Tertiary industry index for September -0.2% m/m (exp -0.1%)
- More on China lifting fin sector foreign ownership limits (not so fast ...)
- China says Trump visit very successful
- RBA responses coming in ... "no substantive change"
- Australia politics ... looks like another government MP set to be forced out
- Brexit, the UK government and GBP ... "downside risks continue to dominate"
- Nikkei update - running along session lows
- RBA responses coming in ... "significant policy implications"
- Heads up for China data due ... sometime in next few days (weekend?)
- NZ finmin Robertson: RBNZ 2% inflation focus could be up for discussion
- ANZ on oil: Events raise probability of more aggressive production curbs
- Japan finance minister Aso says still discussing TPP 11 trade deal
- FT say that TPP 11 have struck deal, leaders will announce tomorrow in Da Nang
- PBOC sets USD/CNY central rate at 6.6282 (vs. yesterday at 6.6325)
- How much longer will the RBA be content with inflation below target?
- RBA shifts the goalposts again on inflation target - responses coming in
- RBA Statement on Monetary Policy (SOMP) - GDP forecasts little changed
- More on ... UK October Retail Sales ‘Most Horrific’ On Record: BDO
- Nikkei lower (it probably would've been a good day for one of those Japan holidays)
- Brexit - EU paper suggests Northern Ireland stays in customs union (re hard border)
- NASDAQ indicator - fears it will expose " hidden trading strategies"
- Reuters Tankan report: Manufacturing sentiment 27 in November (prior 31)
- France's Macron says stands by Saudi Arabia
- UK government to use legislation to fix the time and date of Brexit
- US politics update - White House senior policy adviser Miller interviewed re Russia probe
- Theresa May warns Tory rebels that she will not 'tolerate' attempts to undermine Brexit
- The RBA Statement today will include a huge change to forecasting - what to expect
- Trade ideas thread - Friday 10 November 2017
- NZ finmin Robertson says committed to surpluses for next 5 years
- NZ data: Retail card spending (October) +0.3% m/m (expected +0.5)
- NZ fin min says changes to RBNZ mandate could mean looser policy
- RBA Statement on Monetary Policy (SOMP) due today - more preview!
- RBA Statement on Monetary Policy (SOMP) due today - what to expect
- Economic data due from Asia today - more RBA
A subdued range day final day of the week in Asia for FX.
USD/JPY has maintained a small range from just above circa 113.25 to just above 113.50. News and data flow for the yen was very light indeed.
EUR, CHF, GBP all quiet also. There was the usual Brexit-related bits and bobs (see bullets above) but nothing moved cable very much at all.
The kiwi was more active. It lost ground early in the session with New Zealand Finance Minister Grant Robertson saying the new RBNZ mandata addition could mean looser policy in some circumstances. NZD/USD lost 20 or so points and then in following hours retraced a good way before his comments were reiterated and the kiwi lost ground again, breaking to a new session low toward 0.6920 but as i update not carrying on lower.
The Australian dollar dipped on the release of the Reserve Bank of Australia November Statement on Monetary Policy; changes to the inflation forecast (down) were enough to see the Australian dollar marked down a few points. It soon recovered its small loss and chopped around a little further but as I post it is barely net changed on the session.
Eyes were on the Nikkei today. It opened lower but there has been little follow-through. It still looks precarious though.
While it was not a day of a lot of movement, there was a big piece of news out of China - the announcement of lifting of ownership restrictions on securities companies and more (see bullets above).
