ForexLive Asia FX news wrap: Small USD weakness
Forex news for Asia trading Thursday 12 October 2017
- PBOC Governor Zhou comments suggest some imminent reform announcements coming
- North Korea’s foreign minister says Donald Trump lit the "fuse of war"
- Fed's Bostic says Start Of Fed Balance Sheet Drawdown Going Well - more
- Singapore central bank seen on hold (meeting Friday) - but moving closer to tightening
- PBOC sets USD/CNY mid-point today at 6.5808 (vs. yesterday at 6.5841)
- Fed's Bostic: Hurricanes won't knock US economy off track
- US President Trump says looking at repatriation tax rate of around 10%
- FX options expiry for the New York cut at 10am - Thursday 12 October 2017
- Australia - (August) Home loans: 1.0% m/m (expected 0.5%)
- USD weaker across the board
- New Zealand: ANZ Consumer Confidence Index (October): -2.8% m/m (prior +2.9%)
- Japan - PPI (September): 0.2% m/m (expected 0.2%) and 3.0% y/y (expected 3.0%)
- AUD/USD trying 0.7800 (again again)
- UK data - RICS House Price Balance September: 6% (expected 4%, prior 6%)
- Estimated $2.2 tln for repatriation, but actual flow may be around $456 billion
- ECB's Praet comments on QE - more
- NZ election update (Days of Our Lives is on the other channel if you prefer)
- US Comm Sec. Ross: More contentious issues coming shortly on NAFTA
- Bundesbank's Dombret comments on ... chocolate. Srsly.
- Australian data due today - preview of housing finance
- Australian data the focus on the eco calendar today - preview of housing finance
- Turkish Dep. PM - US - Turkey visa spat “overblown” - expects it'll be resolved soon
- More from ECB's Praet: Seeing some positive signs on inflation
- Trade ideas thread - Thursday 12 October 2017
- OIL - private survey data shows surprise build in US crude inventory
- ECB's Praet says deflation risks have disappeared
- Fed's Fischer: We don’t think we are looking at an equity bubble
- Canadian PM Trudeau says he had a good meeting with US President Trump
- Fed's Williams says he sees 1 more rate hike this year, 3 in 2018
General USD weakness continued in Asia today, albeit not by much. Cable was a bit of a mover, edging higher through much of the Asian session before popping a little above 1.3250 and 60 on a few stops. Its then came back down 20-odd points and is gaining again as I update.
AUD/USD was a notable beneficiary also, testing 0.7800 again, as it did yesterday during the timezone; this time it cleared 0.7810 but not by much. As i update its consolidating and looks like it'll manage higher still.
"Not by much' is pretty much the catch cry of the session here today, NZD, EUR, CHF all higher against the USD ... not by much. After its slide in the US afternoon USD/CAD is little changed on the session here.
Gold is popping a little higher as I post.
Data flow had little impact, news flow was scarce. there were comments from Fed speakers (see bullets above), nothing definitive - the inflation debate is alive and well. The good news is we may well be seeing this very small range trading ahead of likely bigger moves after the US CPI data. The bad news is the CPI data is not until Friday morning, US time.