Forex trading headlines for Asia Tuesday 15 April 2014
- British Retail Consortium (BRC) March retail like-for-like sales: -1.7% y/y (vs. expected 1.0%)
- RBA April policy board meeting minutes: AUD still high by historical standards and more here
- RBA’s Debelle: Continued demand for Australian bonds from reserve managers
- China data – money supply, new yuan loans etc.
- Bank of Japan (BOJ) Governor Kuroda and PM Abe to meet over lunch
GBP and CHF both weakened ever so slightly against the USD during the session, EUR/USD was basically flat.
USD/JPY was very quiet, finding bids ahead of 101.80 and offers at 101.95. The Nikkei opened stronger on the session. Bank of Japan (BOJ) Governor Kuroda and Japanese PM Abe met for lunch, increasing speculation Abe is pressing Kuroda for more easing.
China drained liquidity today (largest drain in 2 months), which sent the Hang Seng lower on slowdown fears.
Kiwi and AUD lost a little ground on the session, the liquidity in drain in China was cited by some participants as a reason. Data for new loans and social financing out of China, though, was a little improved. Both go into early Europe (as I write) at the session lows.
