Forex news for Asia trading Wednesday 19 November 2014
- China Securities Journal: China has room to cut interest rates
- Senate vote on Keystone XL pipeline fails to get 60 votes
- Australia – Westpac Leading Index for October: 0.0% m/m (prior was -0.1%)
- Bank of Japan announces it retains plan for 80T yen annual rise in monetary base
- Moody’s: Why the RBA should be worried about house prices
It looked like yen weakness again today, and it was, but there was across the board USD strength to a great or lesser extent also.
USD/JPY hit out above 117.10 early in the Tokyo session, pulled back below the figure and then triggered new highs just ahead of the BOJ announcement, taking out barrier-option related selling around 117.25. The announcement of no change from the BOJ saw a tiny pullback in the USD/JPY, by little more than a handful of points before pushing on again to new highs. The uptrend persists.
Yen crosses benefited as the USD/JPY rose.
EUR/USD, cable, AUD/USD and NZD/USD all fell away. EUR not quite as much as the others mentioned.
AUD and NZD were both very weak following on from overnight moves, sellers showing very little let up. Iron ore futures in China were down again, not doing the AUD any favours.
EUR/CHF hovered 1.2011 to 1.20125 and thereabouts.
Oil was mainly sideways near overnight lows. Gold sideways also.
Still to come:
Preview: UK Bank of England MPC November Minutes 09.30 GMT 19 November
FOMC Minutes preview: The headlines that could steal the show
