Forex news for Asia trading Friday 1 September 2017
- PBOC official says will keep tight control over property markets
- Moody's on China funding, infrastructure
- NBC: Trump admin expected to send an initial request for at least $5.5bn Harvey aid
- RBA meet Tuesday 5 September 2017 - preview
- BoA ML says to not fight the central banks when they want to do the right thing
- All the US nonfarm payroll previews - in one place
- Australia Q2 GDP report due September 6 - preview
- Japan's fin min Aso says he has cancelled his trip to visit US VP Pence
- China Caixin / Markit manufacturing PMI (August): 51.6 (vs. expected 51.0)
- 5 things to watch for at the Chinese Communist Party Congress
- PBOC sets USD/CNY central rate at 6.5909 (vs. yesterday at 6.6010)
- BOJ JGB buying operation
- Australia bond auction, AUD500m of 2021 bonds snapped up by one buyer
- Japan - Nikkei Manufacturing PMI (final August): 52.2 ('flash' was 52.8)
- 2 US debt limit stories: Rating agencies warnings & Trump to tie to Harvey?
- US nonfarm payroll report due Friday - 2 more previews
- Australia data - August house prices +0.1% m/m in August
- China's Communist Party Congress begins October 18
- Japan Capital Spending for Q2: +1.5% y/y (vs. expected +7.9% y/y)
- Bank of Japan JGB buying operations for September - full schedule, amounts
- Australia - AiG Manufacturing PMI (August): 59.8 (vs. prior 56.0)
- ICYMI - the "strong euro worrying ECB, increase chance of slower QE wind down" story
- Australian manufacturing PMI (1st of 2 PMIs due today): 53.5 (prior 54.4)
- New Zealand - Terms of trade index for Q2: +1.5% q/q (vs. expected +3.0%)
- US nonfarm payroll report due Friday - here is a 'just the numbers' preview
- AUD traders - next week is a big one for RBA communication - mark up your diary
- Friday is NFP day in the US - preview
- ICYMI: ForexLive Americas FX news wrap: Canadian GDP crushes it
- Trade ideas thread - Friday 1 September 2017
- Mexico central bank head says inflation likely to remain above 6% in the next months
- Economic data due from Asia today
There was a further sign of growth momentum from China today with the private survey manufacturing PMI (Caixin / Markit) handily beating estimates and confirming the solid reading from the official manufacturing PMI we got yesterday from the China's National Bureau of Statistics/China Logistics Information Center.
From Markit:
And, yesterday's (ICYMI):
Also from China, a date for the 19th Communist Party Congress:
- China's Communist Party Congress begins October 18
- 5 things to watch for at the Chinese Communist Party Congress
And .... still more from China ... the People's Bank of China skipped open market operations again today (they did so Thursday also) in an indication they Bank is tightening policy ever so slightly.
China news impacts on those trading the Australian dollar, and for today the impact was minor. AUD/USD has net managed to eke out a tiny gain, from lows just under 0.7940 to highs just above 0.7955. NZD/USD, too, up tiny but back to pretty much unchanged as i update.
Elsewhere across the currency board we had similar small ranges, which is hardly surprising for the Asian day ahead of the US NFP (ps. All the US nonfarm payroll previews - in one place)
USD/JPY moved above 1110.10 in the Tokyo morning but soon slipped back to around the figure. Data from Japan today was disappointing for capex (), and the 'final' reading for Nikkei manufacturing PMI slipped back from its preliminary reading.
EUR/USD is little changed on the session, as is USD/CHF, both up very small indeed. Cable has carried on its US move, to a much smaller degree, up a few points on the session. USD/CAD, similar, CAD up a few more points here on the day.
Regional equities:
- Nikkei +0.08%
- Shanghai +0.57%
- HK +0.36%
- ASX +0.19%
