Forex trading headlines for Asia Wednesday 9 July 2014
- New Zealand – Retail card spending 0.0% m/m (vs. expected +0.2%)
- BRC June Shop Price Index: -1.8% (vs. -1.4% prior)
- Japan money stock data
- PBOC will avoid a system-wide policy easing but will continue with targeted measures
- Australia – Westpac Consumer Confidence Index (s.a.) for July: +1.9% m/m (prior was +0.2%)
- China CPI for June: +2.3% y/y (vs. +2.4% expected)
- Equities: “Short selling drops to lowest level since Lehman”
- People’s Bank of China (PBOC) sets yuan reference rate at 6.1565, a 3 month high for yuan as US-China talks began
EUR/USD popped briefly above 1.3620 in early Tokyo today before drifting back in subsequent hours to around 1.3610. USD/JPY. meanwhile, was dropping away in the early market to just below overnight lows before finding support and bouncing back 15-odd points. Cross-currents kept EUR/JPY supported and it to bounced a little as the USD/JPY attracted buyers.
GBP/USD, too, found some buyers in the early going, but was rejected above 1.7140 and drifted off to around and just below late new york levels.
Kiwi and Aussie dollars both tried higher, the AUD getting a hair’s breadth above overnight highs before coming back to late NY levels. the AUD extended its fall in the afternoon, dropping below 0.9395.
Gold had a grind higher throughout the session, retracing much of its overnight drop; oil was flat to down slightly. USD/CAD was basically flat.
