Forex news for Asia trading Thursday 12 January 2017
- Is a free-floating yuan getting more likely? (Put me down as a "no")
- More on the PBOC and BTC - conducted an "inspection" at online bitcoin exchange
- And ... China NDRC head says economy faces complex environment, stable currently
- China commerce ministry: Facing big downward pressure on trade this year
- China to merge 5 state media cos to increase state voice in eco & financial news
- USD/JPY slipping to session lows
- When a central bank halts intervention, the case of the SNB EUR/CHF capitulation
- PBOC sets USD/CNY central rate at 6.9141 (vs. yesterday at 6.9235)
- NAB on AUD/USD, gotta stay below 0.7525 for medium term downtrend to stay in play
- Australia - (November) credit card balances $A52.5bn and purchases $A27.1bn
- Japan press: BOJ may find it harder to steer interest rates once Trump takes office
- New Zealand - ANZ Commodity Prices for December: +0.7% m/m (prior +2.7%)
- Japan data - BoP & more
- BoA/ML "see GBP drop in Q1, but will buy the dip"
- Trump plunging in the polls (and why that doesn't matter)
- Trade ideas thread - Thursday 12 January 2017
- NZ data - ANZ 'Truckometer' for December: -0.1% m/m (prior +4.0%)
The extremes for USD weakness established in US trade overnight held here today (nearly) across the board. After starting around 115.50 USD/JPY slipped lower for most of the session (stabilizing above 115.00 for some time before lower again); as US 2 year yields slipped so did the dollar.
EUR/USD ticked up toward its overnight high, as did AUD, NZD and CHF against the USD. GBP/USD was a bit of a laggard, well below.
Net over the session yen crosses were the stand-out sliders, EUR/JPY off 80-odd points for example.
Gold managed to break above its overnight high, but the follow-through has been limited. Oil has done not a lot for the session, it bounced a little into early Tokyo morning but has since drifted off again. Not a lot in it.
Regional equities; the Nikkei was very heavy indeed today:
- Nikkei -1.34%
- Shanghai +0.20%
- HK -0.27%
- ASX -0.22%