Forex news for Asia trading Friday 17 October 2014
- RBNZ to introduce a broader TWI
- NZD back up again! – September RBNZ statement republished in error!
- Japan Buying Foreign Bonds plus the rest of this data
- China Securities Journal: PBOC is expected to step up monetary policy easing
- China – railway investment continues with 3 new big projects approved
- PBOC First Rate Cut Since 2012 Signaled in Swaps
- MNI China Business Indicator falls to 8-month low
Not a lot of fresh news in Asia today (… old news had a big impact, though … see below), but a bit of movement in the timezone, with much of it in the AUD and NZD.
EUR, GBP, CHF, CAD have ended (as of writing) pretty much where they were when I came in this morning, but cable did manage a decent round-trip of about 50 points or so up from lows and then a turnaround drop of 30 or so.
The AUD/USD, similarly, gained 50+ points from its morning lows as hopes for easing in China were the market chatter. It didn’t sustain above 0.8780, though and has dropped 30 points since.
NZD was a very large, and shrp, mover. Comments from the RBNZ hit the wires, to the effect that the NZD was too high, and that the central bank would would welcome a move toward more sustainable exchange rates … sending NZD from just under 0.7940 to below 0.7880 in minutes. The release from the RBNZ, though, was a mistaken re-release of a September statement (see bullets, above), the currency then recovering all it losses, and then some, in quick time. The RBNZ apologised for the mistake.
As I post, AUD and NZD are headling down again, but both well off session lows. USD/JPY also trickling a little lower.
Oil gained a few cents, gold was basically flat.
