Forex news for Asia trading Wednesday 6 September 2017
- Putin tells Sth Korea PM Moon will discuss North Korea's nuclear and missile programmes
- More from Russian oil minister Novak - sees Brent in range $45 to $55 in 2018
- Australian Q2 GDP - analyst responses coming in - here's the next one
- Australian Q2 GDP - analyst responses coming in
- Bank of Canada announcement due Wednesday 6 September 2017 - preview #3 (& #4)
- Bank of Canada announcement due Wednesday 6 September 2017 - preview #2
- Bank of Canada announcement due Wednesday 6 September 2017 - preview
- Option expiries during NY time for Wednesday 6 September 2017
- Russian oil minister Novak says would extend oil production cut if needed
- Australia Q2 GDP: 0.8% q/q (expected 0.9%)
- US defense analysts now believe North Korea has as many as 60 nuclear bombs
- PBOC sets USD/CNY mid-point today at 6.5311 (vs. yesterday at 6.5370)
- BOJ JGB buying operation today (5 to 10yrs)
- More on the yuan in China press: Yuan may continue to advance against USD this year
- Yuan in the China press - stable currency gives more leeway for mon pol
- More again from Fed's Kaplan: Harvey does not change his view Fed should trim ASAP
- Mr. Watanabe (srsly) says no reason for 2% inflation before BOJ tapering
- More from Fed's Kaplan: Federal Reserve should be patient on rates
- Japan wages data (July): Labor cash earnings -0.3% y/y (expected 0.5%)
- And this ... "AUD: It’s Time to Start Looking Higher": 0.84 target
- CBA on the Australian dollar - largely ignored the speech by RBA Governor Lowe
- Fed's Kaplan still expecting 2.25% growth for US in 2017, & lower unemployment rate
- In Japan? Want a job? Point 72 looking to double its staff
- EUR/USD: Levels for consolidation, resistance, support, & target for year end
- New Zealand - ANZ Job ads for August: +1.0% m/m (prior -1.0%)
- Here's another bank on the RBA yesterday (focus on the AUD & GDP "we see upside")
- SG on the RBA concern with the Australian dollar
- ICYMI: Forexlive Americas FX news wrap: USD falls on bond yield tumble/softer Fed.
- RBA Governor Lowe spoke overnight: the "laws of supply and demand still work"
- Trade ideas thread - Wednesday 6 September 2017
- US Trade Rep Lighthizer comments on NAFTA, Sth Korea, Trump
- Norway's PM Solberg: Important to keep a good krone rate for companies
- Economic data due from Asia today, and a Federal Reserve speaker
It was a subdued session for news and data flow here in Asia today. We did get comments from Dallas Federal Reserve head Robert Kaplan (plenty on the bulleted points above, but in a nutshell he want to move on beginning balance sheet normalisation ASAP while holding off on rate hikes for now), Q2 GDP data from Australia and wages data (July) from Japan.
USD/JPY slid in pre-Tokyo trade down towards 108.50 but as Tokyo became more active it recovered to 108.80 and is mid-range as I update. Wages data was disappointing (see bullets above).
EUR/USD over the session had a smaller points range, from just over 1.1920 early it knocked off a few points to under 1.1910 and is also more or less mid-range as i update. USD/CHF has had a small range, net a few tics higher while cable too is more or less flat on the session.
USD/CAD got to its lowest early, circa 1.2365 before heading higher on approach to 1.2395. The Bank of Canada monetary policy decision is due today, Canada time:
- Bank of Canada announcement due Wednesday 6 September 2017 - preview #3 (& #4)
- Bank of Canada announcement due Wednesday 6 September 2017 - preview #2
- Bank of Canada announcement due Wednesday 6 September 2017 - preview
AUD/USD edged higher in the Sydney morning, to circa 0.8020 ahead of the GDP release only to drop upon the data announcement back under 0.8. It never bothered the big figure again and is under 0.7990 as I update.
NZD/USD followed a similar, but not quite the same, pattern, higher in its morning and then turning lower well before the AUD did; its on its session lows as I post.
Regional equities:
- Nikkei -0.20%
- Shanghai -0.28%
- HK -1.02%
- ASX -0.31%
