Forex trading headlines for Asia Friday 11 April 2014
- ECB’s Draghi: Eurozone inflation expectations remain firmly anchored in line with ECB target
- People’s Bank of China (PBOC) Yi says any China Stimulus should be very cautious
- New Zealand – REINZ House price Index for March
- New Zealand – Food price Index for March -0.3% m/m (prior was -1.0%)
- Japan – Domestic CGPI for March: 0.0% m/m (expected +0.1%)
- BOJ March meeting minutes: members agreed prices, economy moving in line with BOJ forecasts
- Japan – Money Stock for March M2: 3.5% y/y (vs. expected 4.0%)
- Turkey – Moody’s lowers outlook, to negative from stable
- China March CPI: 2.4% y/y (expected 2.4%)
- China March PPI: -2.3% y/y (expected -2.2%)
- China eases control on overseas investment by companies
EUR, GBP and CHF were not where the activity was in Asia today. EUR/USD managed to add a few tics, though and as of writing it is very close indeed to its days highs.
USD/JPY found support around 101.35. Despite the Nikkei trading lower the USD/JPY failed to lose any more ground below US lows, and a rally then took it 35-odd points higher. Rumours of BOJ intervention to buy USD/JPY proved to be incorrect.
Kiwi and AUD lost ground today after a week of strength. Both traded below overnight lows without obvious new news or catalysts.
