9 hours ago | October 21st, 2014 05:23:01 GMT

Data coming up in this session 21 Oct

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Good day one and all

About-turn for the yen again and some cheer out of China as Europe opens up

Datawise it’s another quiet one but we can hope for some decent price action to keep us going

Have a good session out there

Times GMT+1 (UK)

Economic Data  (1) 21 Oct jpg

Economic Data (1) 21 Oct jpg

Economic Data  (2) 21 Oct jpg

Economic Data (2) 21 Oct jpg

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11 hours ago | October 21st, 2014 03:46:48 GMT

ForexLive Asia FX news wrap: China GDP comes in a tick better than expected

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Forex news for Asia trading Tuesday 21 October 2014

Some yen movement today despite a lack of news out of Japan. The Nikkei was down in morning trade (as of writing), while the USD/JPY drifted off from its early high around 107.00. EUR/JPY, too, weakened, down from around 136.90 (big sellers still prevalent at 137.00 and thereabouts.

EUR/USD, though, was relatively subdued, finding some support from 1.2790 and gaining a little ground toward 1.2810. Cable tracked out a similar pattern, bids ahead of 1.6150 and then tracking to 1.6170. Again, an absence of news.

AUD and Kiwi were a little more active. The AUD lost some ground in the time leading up to the Chinese GDP data release but jumped above 0.8800 on the ever so slight beat in expectations of this data (see bullets, above). AUD/USD stabilised around 0.800 and is just above there as I post this wrap up.

Oil and gold were both mainly flat on the session.

And, finally, a reminder for AUD traders going into the Europe/UK timezone, Speech still to come from the RBA today

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11 hours ago | October 21st, 2014 03:22:40 GMT

Australia – Still to come from the RBA today

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It ain’t over!

There is more to come from the Reserve Bank of Australia (RBA) later – at 7.55pm in Sydney (well into beer o’clock), there’s a speech by Philip Lowe, Deputy Governor . Its topic is Investing in a Low Interest Rate World,  at the Commonwealth Bank of Australia’s 7th Annual Australasian Fixed Income Conference, Sydney.

Oh, yeah. That’s at 0855GMT … soooo … beer o’clock in London too (well, for Ryan and Mike, anyway ;-) ).

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11 hours ago | October 21st, 2014 03:11:00 GMT

Australia – analyst says RBA use of non-interest rate tools may delay rate hike timing

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From Barclays economist Kieran Davies, on the October monetary policy board meeting minutes (released earlier today):

  • The RBA board appears to have discussed macroprudential tools at the meeting
  • No disclosure in the minutes, though
  • Davies is of the opinion that the RBA may introduce a new ‘macrop-prudential’ measure before the end of 2014
  • Davies thinks the bank may implement a capital charge for investor home loans
  • For example, Davies estimates that a doubling in the risk weighting for investor home loan would equate to half a 25bp rate rise for the housing market
  • Such a tool would be a “clear risk to the timing of our forecast that modest rate hikes commence in Q1 next year”

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13 hours ago | October 21st, 2014 02:01:12 GMT

China data – retail sales, industrial production, fixed asset investment

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September retail sales:  11.6% y/y

  • expected +11.7% y/y, prior +11.9%

Industrial production for September:  8.0% y/y

  • expected +7.5% y/y, prior was +6.9%

Fixed asset investment:  16.1% y/y

  • expected is +16.3% y/y, prior was +16.5%

  • The better IP number may be suggestive of export growth
  • It may also indicate that the pressure for further stimulus is not as urgent as some in the market are thinking

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