Forex news for Asia trading Thursday 26 October 2017
- All the ECB previews in the one place
- Nomura look ahead for the EUR/USD after the ECB today
- Commerzbank on the 2 options the RBA has to lower the AUD
- The 7 men who will rule China for the next 5 years
- China senior official - will not solely pursue economic growth
- NZ (September) New Residential Mortgage Lending -22% y/y
- (Australia overnight press) - Australian treasury head on RBA interest rates
- Bank of Canada decision (& ForexLive loses the battle of the videos)
- USD a little weaker
- More on Australian inflation: "data overstate the true rate of inflation"
- China begins marketing first USD-denominated bonds since 2004
- Japan's trade minister says strong chance of agreement on trade at APEC summit
- People’s Bank of China sets yuan reference rate at 6.6288 (vs. yesterday at 6.6322)
- NZ PM Ardern considering a mini-budget
- FX option expiries - Thursday 26 October 2017
- Japan PM Abe's economic adviser speaking - spending the sales tax revenue is good
- Australian Q3 export prices -3% q/q (expected -4.0%) & import -1.6% q/q (-1.5%)
- Singapore CB head: "Excessive exuberance is always, in and of itself, cause for concern”
- Australia property market report out today (Core Logic)
- More from BoA / ML on the ECB meeting - 2 possible surprises
- Japan - PPI Services (September): 0.9% y/y (expected 0.8%)
- UK housing starts on track for 10-year high
- UK car output falls again in September
- UK retailers cut jobs at fastest rate since 2008
- Here's the problem with the last day of the month falling on a Tuesday (spoiler - RBA) - and ps. Debelle speaking during London time today
- Preview of the ... BOJ meeting! (you weren't expecting that, were you?)
- BoA / ML ECB preview: "offsetting less QE with stronger forward guidance on rates"
- New Zealand Trade Balance for September: -1143m (expected -900m)
- Heads up for next bubble - Japanese company invents giant noise cancelling fork
- US politics (tax reform b/s) - plenty of headlines crossing
- AUD - HSBC on the inflation data, roll back their rate hike call
- Trade ideas thread for Thursday 26 October 2017
- Brazil central bank cuts benchmark rate (by 75 bp)
It was a light day for data and news flow, with a little movement in forex nonetheless.
NZD/USD had a choppy sort of session, following the NY close it managed a move up to around 0.6890 before falling back again to earlier levels circa 0.6870 and then a pop to around 0.6895. We got trade deficit data along with some political news but the moves were more due to market flows - liquidity in the NZD is not great at the best of times and its more skittish than usual right now.
The USD was generally a little weaker. There was continuing news out of the US early in the day about the less likelihood of the budget measures passing the House, which weighed somewhat. Politics, eh?
The Australian dollar was a beneficiary of the softer USD, trading higher to back above 0.7700 during the session despite slightly weaker commodity prices on China exchanges today.
USD/JPY slid under 113.40 (briefly) while EUR/USD managed highs circa 1.1830.
USD/CHF is barely changed while Cable has had a small range only, managing a new high from its overnight heights by a few points nonetheless.
Don't forget - its ECB day!
