Forex trading news for Asia Wednesday 15 October 2014
- Nikkei – Japan’s GPIF reorganization coming up?
- Australia data – Westpac Consumer Confidence Index for October: +0.9% m/m
- Former BOJ chief economist – BOJ should drop the 2-year timeframe and keep the 2% target
- BOJ senior official: In general, weak yen is positive for exports and companies operating globally
- Australia – new motor vehicle sales data for September: +2.9% m/m (prior -1.8%)
- Bank of Korea cuts key interest rate by 25 basis points
- China CPI +1.6% y/y (expected was +1.7%) and more here and here
- Fitch – Risks in the Australian banking system have risen
- “Volatility masks Britain’s real inflation”
Reminder:
Early Asia today saw a broad, but shallow USD rise, with most currencies losing ground (Canadian dollar most particularly). The strength sort of fizzled out as the session progressed, though, and 50%+ retacements mainly followed. We end the day little changed from where things were when I started this morning, but the USD overall a touch stronger still.
News of possible GPIF reorganisation seemed to play a role in sending USD/JPY to a high near 107.30 but this move, too, was retraced by a reasonable amount.
Gold lost ground during the session, oil is little changed.
