Forex news for Asia trading Friday 13 October 2017
- China Sep. Trade balance in USD terms now: $ 28.47bn (expected 38.00bn)
- Trumpcare plan: Kills key payments to health insurers
- Reuters report Boeing passenger jets have falsely-certified Kobe Steel products: source
- USD down a little across the board
- China Sep. Trade balance CNY 193.00bn (expected 266.05bn)
- PBOC lends 498bn yuan via 1 year MLF loans
- Fed's Bostic: Not sure if Fed will hike in December
- A Friday the 13th Australian property market piece doing the rounds - 'spooky'!
- PBOC sets USD/CNY central rate at 6.5866 (vs. yesterday at 6.5808)
- China trade data due today - preview
- ANZ on iron ore - 'relatively robust in the short term'
- FX options - Expiry at the New York cut (10am)
- RBA FSR: Main risks from rising household debt, weak income growth
- Singapore Q3 GDP +6.3% q/q and + 4.6% y/y
- (Singapore) MAS leaves policy unchanged, as expected
- UK - BCC says "extraordinary" that Bank of England is considering raising interest rates
- More on the ECB and lower QE amounts from January
- ECB said to be considering cutting QE to 30bn a month from January 2018
- Austrian elections this weekend - what to expect for the euro
- SG on USD/JPY - Signs of a limited short-term pullback: levels & targets
- WSJ with a recap on "ECB Official Warns About Impact of Extending Bond-Buying Programs"
- US CPI and retail sales due today - preview
- New Zealand - BusinessNZ / BNZ Manufacturing PMI (Sep.): 57.5 (prior 57.9)
- Singapore central bank announcement due today - preview
- Australia: RBA Financial Stability Review will be released today - what to watch for
- Trade ideas thread - Friday the 13th! Spooky.
- Add this to economic calendar today in Asia - likely we get China trade data (Sep)
- Economic data due from Asia today (and RBA)
- ECB's Coeuré speaks on risks from non-standard tools
The biggest news of the session was the 'trial balloon' floated by ECB 'sources' on cutting QE in half in early 2018. The euro ... yawned. Which was disappointing.
- ECB said to be considering cutting QE to 30bn a month from January 2018
- More on the ECB and lower QE amounts from January
Maybe it was because of Friday the 13th, but EUR/USD barely responded. Over following hours there was a bit of general weakness in the USD, which did see EUR/USD higher but the range was not large over the session.
USD/JPY slipped under its overnight low cicra 112.15 and down towards 112.00. The softer USD was reflected elsewhere too, and also in very small ranges.
Ahead of US CPI and retails sales data volumes/activity were lacklustre here.;
We got an as expected result from the Monetary Authority of Singapore today in their policy announcement (tune in for the next one due in April!), and similarly an unsurprising 'Financial Stability Review' from the Reserve Bank of Australia.
A miss on the September trade data from China (surplus and exports both missed).
Still to come: