Forex trading headlines for Asia Thursday 4 September 2014
- Nikkei: Japan Economic Council To Hold Extraordinary Meeting
- New Zealand dollar traders – New Zealand’s Election Paradox
- Japan buying foreign bonds data: Y 503.7bn
- New Zealand data: QV house prices +6.9% y/y (prior +7.6%)
- Michael Bloomberg comes back as CEO of Bloomberg
- Australia – Trade balance for July: -1359m (expected -1750m, prior was -1683m)
- Australia – Retail Sales for July +0.4% m/m (expected +0.4%, prior was +0.6%)
- BOJ announcement: Retains plan for 60-70tln yen annual rise in monetary base
European Central Bank meeting coming up today:
- EURO – Previews of the European Central Bank meeting from the investment banks
- EURO ECB preview – “The European Central Bank is set to significantly shift its rhetoric”
- Trading the EURUSD through the ECB decision
A day of waiting in the Asian timezone today … mostly for the big event, the European Central Bank.
Nevertheless, we did get some activity.
USD/JPY and EUR/JPU edged their way a little higher ahead of the BOJ announcement (which came just after 0300GMT, (see bullets, above)), only for both to give back some of their session gains in the minutes following. There wasn’t a lot in it, though, with reasonably small ranges for both.
AUD/USD, too, edged a little higher through the Sydney morning, topping out just above 0.9360 after the day’s data points, retail sales and trade balance (see bullets, above). The range, though, was not large.
NZD/USD had a sideways session in a small range also.
Other currencies, too, lacklustre within tight ranges.
Reminders:
- Bank of Japan (BOJ) Governor Kuroda press conference at 0630GMT
- Bank of England announcement at 1100GMT
- European Central Bank announcement at 1145GMT
- Draghi’s press conference at 1230GMT
