Forex news for Asia trading Monday 30 October 2017
- Ahead of the PMIs, earliest gauges of China’s economy for October are mixed indeed
- Plenty of data to come from China this week - heads up
- BOJ likely on hold this week, but to nudge down inflation forecasts
- WSJ reports US President Trump likely to select Powell as the next Fed chair
- ANZ on leveraged funds commitments - net USD buyers for the 4th consecutive week
- Mexico's Carstens think inflation has hit its peak
- Economic data due from the US on Monday - a heads up on what to watch
- BOJ's stimulus policy is "a clever way to scale up or down without fuss"
- PBOC sets USD/CNY mid-point today at 6.6487 (vs. Friday at 6.6473)
- Preview of the Bank of Japan meeting (announcement due Tuesday)
- FX option expiries for today, Monday October 30 2017
- More on the Japan retail sales data (recap)
- UK think tank says government should drop budget surplus promise
- Japan - Retail sales data for September +0.8% m/m (expected +0.8%)
- US President Trump's video 'teaser' for the new Federal Reserve Chair announcement
- US tax reform - weekend update
- Barclays trade(s) of the week: Long GBP/JPY and USD/JPY
- Weekend Japan press says BOJ's Kuroda is the favourite for another term as governor
- Weekend: New NZ fin min says RBNZ reform could lower rates
- Australian Treasurer Morrison: says business conditions best since 2008
- Weekend: ECB's Smets says concerned about low inflation
- Happy five-year ForexLive-anniversary to Eamonn
- Weekend: ECB Coeure says he hopes bond buying will not be extended again
- Economic data due from Asia today - Monday 30 Oct 2017
- Trade ideas thread - Monday 30 October 2017
- Monday opening FX rates - foreign exchange prices indications
Weekend:
- Mueller's Russia/US election probe files the first charges
- Catalonia - Is the movement for independence losing support?
- Weekend technicals: USDJPY backs off after stalling at 6 month highs
- Don't forget UK/Europe clocks go back 1 hour this week-end
- Weekend technicals: EURUSDs bearish break. Month's range extended too.
Monday's week-opening Asian session was marked by a broadly unchanged (from Friday's closing levels in North America) US dollar. Weekend and Monday news flow (and Monday data flow) was of little impact.
The New Zealand dollar was a little softer, though, comments from the noob finance minister in New Zealand on the likely impact on rates (lower) from a newly proposed employment mandate (check more out in the bullets, above) to be added to the existing price stability mandate. Employment in New Zealand has been strong, and the Reserve Bank of New Zealand has been persistently missing on its inflation mandate. It sounds like the old 'if it ain't broke don't fix it' saying might well be being ignored .... we'll see. NZD/USD is off from highs above 0.6880 early to lows circa 0.6840 as I update.
Cable has edged up a few points, perhaps on expectations of the Bank of England rate hike this week. The move higher is about 10 or so points from US Friday highs, so if you'd like to comment that the up move is hardly more than very minor noise I think you may well be correct.
USD/JPY is a few points weaker; it had popped itself above 113.80 during the Tokyo morning, but after the fixing has slid under 113.60. EUR/USD is a few points higher; after early lows circa 1.1595 its above 1.6110 as I post. Gold is barely change, as is the oil price.
Coming up this week from the central banks:
October 30 and 31 - the Bank of Japan
- Preview of the BOJ meeting (Cap Eco)
- Moving along - preview of the Bank of Japan meeting
- Preview of the Bank of Japan meeting (announcement due Tuesday)
- BOJ likely on hold this week, but to nudge down inflation forecasts
November 1 is the Federal Reserve (but the focus is who will be the new Fed Chair)
November 2 is the Bank of England
