Forex trading headlines for Asia Tuesday 26 August 2014
- BOJ Mulling More Upbeat Language on Economy
- EURO – the significance of Draghi’s speech … A ‘Major Event’ a ‘Turning Point’ says Barclays
- When will the next RBA interest rate move happen? 21 bank economists predict (Goldman Sachs might surprise you)
- New Zealand July Trade Balance: -692m (expected -475m )
- “A very significant period of transition” … What is the Federal Reserve rate rise timeline to watch for?
- Japan’s services PPI (aka Corporate Services Price Index (CSPI)): +3.7% (expected +3.7%)
- Australia – ANZ-Roy Morgan consumer confidence results are an encouraging sign for consumer spending in coming months
- Are political concerns going to move into the market’s sights in Australia and New Zealand?
- S&P affirms NZ ratings at AA – Sees the New Zealand government continuing to improve fiscal performance and more here
- Conference Board Leading Economic Index China +1.3% percent in July (prior was +1.3% in June)
- “Repeated Russian incursions into Ukraine unacceptable. Dangerous and inflammatory” – US National Security Adviser
EUR/USD carried on with its weakening trend in early Asia, ticking to test the overnight lows but snapped back for a 35-odd point rally. The USD weakness that saw EUR rally was spread across the board, with GBP, CHF, CAD, JPY, AUD and NZD all coming back to greater or lesser extents. There wasn’t much in the way of fresh news or catalysts for the move, but there was some chatter about re U.S. Bank Liquidity Rule Said to Exclude Municipal Bonds.
Yen crosses were softish, too, with EUR/JPY off nearly 30 points.
Gold joined in the USD bashing, after a spike below 1275 in late NY it gained nearly $6 from its lows to retest 1280.
Oil edged a few cents higher through the session.
