Forex trading headlines for Asia Friday 20 June 2014
- New Zealand ANZ job advertisements for May: -5.2% (prior was +2.1%)
- Reuters Tankan: Confidence of Japanese manufacturers held steady in June
- Japan economy minister Amari: Aim to cut corp tax to Germany level of 30% (no further details, just the headline)
- New Zealand – ANZ consumer confidence index for June: +3.4 (prior was a -4.4%)
Other:
- BNP is short yen – what is their rationale, stop loss and take profit targets?
- Daily chart technical analysis – bearish bias on EUR
- Société Générale’s Top 10 forex trade recommendations for the second half of 2014
Some broad moves in the USD today, albeit in very small ranges. There was no news of much significance hitting the wires, just a little bit of end-of the week movement. As I said, the ranges were small though. We await Europe and the UK to fire it up.
EUR/USD gained nearly 20 points from late US lows.
Cable, too, gained a little ground ground. Comments from the Bank of England’s McCafferty were widely remarked upon in Asia today, even though they had come out during the European timezone.
USD/JPY ticked back toward overnight lows, but settled in the middle of the past 36 hour range.
USD/CAD traded sideways in a very narrow range.
AUD/USD, too, joined the USD weakening bandwagon (and, to repeat, the moves were very small), up around 20 points.
And, finally, something to pin a move too. The NZD/USD gained a few points as well during the day. While the job advertisement data for May was weak, consumer confidence came in very strong (see bullets, above). It was the sentiment data that seemed to shift the kiwi, it found a little bit of strength on it. When you look at the price action in the NZD/USD, though, the very small upmove it had was even smaller than the AUD and EUR (cable was a disappointing gain too, relatively speaking), which is likely indicative of a little further weakness from the NZD in the hours ahead (egg on face alarm).
Gold gave back a little of its strong overnight gain as participants argued about what caused the overnight surge. Oil had a small range, ever so slightly better bid on the session.
ps. If you missed the America’s wrap (perhaps you were watching the World Cup matches, here it is, noting the huge upmove in gold).
Oh and here’s a bit a Friday head-scratcher … This isn’t quite FX … But for $US26.99 these guys will exchange it for $US20. Yes, you are reading that correctly.
