Forex trading headlines for Asia Friday 11 July 2014
- New Zealand – Food price index for June: +1.4% m/m (vs. prior was +0.6% m/m)
- Federal Reserve vice-chair Fischer speech and comments (more here and here)
- Australian housing finance for May – all the results
- China Securities Journal: China needs detailed policies to stabilize trade
- More from Japan economy minister Amari: Current Japan economy not in state of deflation. And more, here.
- “Is Australia due for a recession?”
- Xinhua: PBOC looking into Bank of China money laundering allegations
- Japan economy minister Amari: Aiming to lower corporate tax rate by 6% over 5 years from next fiscal year
- China Finance Ministry – to levy import tariffs on 78 steel products from July 31
Adam wrote in the America’s wrap that “Early fear downgraded to worry”. Well, in Asia today it was further downgraded to “M’eh” apparently.
The Australian dollar drifted from earlier lows off about 15 points or so. The data today (Australian housing finance) was another mixed bag, the headline was better than expected but details were a little soft (except for construction, which was strong), which saw the AUD recover from its lows. (When I say ‘recover’, its up about 8 points or so, as of writing.)
The NZD lost around 20+ points from early highs and bounced about 15 points subsequently. Drifting back towards the lower part its session range as I type.
EUR/USD was broadly sideways in a small range today; cable, too – it fell around 20 points and recovered 15 of them.
Ahead of Friday morning’s job market report the CAD strengthened a little, but within a small range only.
Oil was sideways steady. Gold gained around $3 from NY lows.
Asia equities were mixed – HK and Australia a little higher, South Korea and Japan a little lower.
