Forex trading headlines for Asia Thursday 31 July 2014
Argentina:
- Argentine Economy Minister Axel Kicillof press conference
- Meanwhile – mediator on Argentina: Argentina didn’t reach agreement with holdouts
Not Argentina:
- Banco Espirito Santo capital falls below minimum requirement on 4.25B euro loss
- “The spigot of global reserve stimulus is slowing to a trickle”
- Yomiuri press: Japan plans to cut corporate tax by 2% in FY2015
- Bank of England Broadbent: Comments on UK economy, GBP and interest rates
- UK GfK Consumer Confidence for July: -2 (vs. 2 expected)
- Japan Buying Foreign Bonds Y -302.0bn (plus the rest of this data)
- Australia – Signs of non-resource investment picking up
- IMF reiterates that Chinese yuan is moderately undervalued 31 July 2014
- Australia – Building approvals for June: -5.0% m/m (vs. 0.0% change expected)
- Australia private sector credit and export, import price indices
- Japan – Labor Cash earnings for June: +0.4% y/y (expected +0.8% prior was +0.8%)
- Bank of Japan (BOJ) Kiuchi: Japan economy recovering moderately
Despite the gyrations in the overnight on the German data, US GDP and then the FOMC it was a subdued session in the Asian timezone today.
EUR, flat.
Cable managed to eke out a few point gain.
USD/CHF, meh… flat.
USD/CAD, maybe up 5 points or so (I’m clutchin’ at straws here).
USD/JPY … not even straws to clutch at. EUR/JPY the same.
AUD wiggled a little on the data releases (see bullets, above).
NZD/USD gained around 10 or so odd points from its session lows.
Oil stabilised after losing a few cents in the very early going, Gold lost a dollar or so.
