Forex news for Asia trading Tuesday 6 January 2015
- Room for a China RRR cut?
- Australia – Trade balance (November): -925m (vs. expected -1600m)
- Japan PM Abe: Wants cabinet to approve Fiscal Year 2015 budget on January 14
- Markit/JMMA Japan Services PMI for December: 51.7 (prior was 50.6)
- China HSBC/Markit Services PMI December: 53.4 (prior was 53.0)
- China HSBC/Markit Services PMI December: 53.4 (prior was 53.0)
- China accelerating 300 infrastructure projects valued at 7 trillion yuan this year
A subdued day for EUR/USD after Monday’s dramatic early Asian start to the week, finding some buying ahead of 1.1925 and sellers just above 1.1950. Cable tracked a similar sort of pattern, from lows in early Tokyo time it ticked 25-odd points higher before settling mid-range on the session.
USD/JPY was heavy overall, but put in some decent 20-30 point swings. Its nearly sitting on the session lows as I type.
AUD/USD and NZD/USD both gained on the day – with stimulus moves out China cited as providing support.
Oil was a fraction off its lows and pretty much sideways for the day, while gold edged a little but higher.
Still to come:
