Forex news for Asia trading Wednesday 7 January 2015
Data and news:
- Australia – AiG Services PMI December: 47.5 (prior was 43.8)
- China Securities Journal: China faces yuan depreciation pressure in 2015
- New Zealand ANZ Commodity Price index December: -4.4% m/m (prior -1.6%)
- UK BRC Shop Price Index December: -1.7% y/y (expected -1.8%)
- Westpac-MNI China Consumer Sentiment for December +1.3% m/m to 112.5
Views:
- Barclays technical analysis looking for more USD/JPY dip before resuming uptrend
- Merrill Lynch asks: Are oil prices about to turn and move higher?
- Quick USD/JPY take from JP Morgan – the key levels to watch
- Goldman Sachs and Morgan Stanley recommend buying energy stocks
- UBS expect 2015 China GDP growth to slow to 6.8% … and highlight potential for surprises
- US oil and gas companies huge debt load should ensure more “Pump baby, Pump!”
It was all go in the opening hours in Australia/New Zealand this morning with US dollar strength against GBP, EUR and others.
USD/JPY, though, notably remained relatively stable, but more than made up for it in subsequent hours , gaining more than 60 points to trade above 119.15 (albeit briefly) before settling back around 119.00.
Meanwhile EUR and GBP retraced some of the earlier fall then traded sideways.
AUD and NZD were pretty much the weaklings, with not much of a bounce from their lows.
Still to come!
