ForexLive Asia FX news wrap: AUD pop (a little one) on strong jobs report
Forex and Bitcoin news for Asia trading Thursday 13 September 2018
- Recap Fed's Brainard - rate hike cycle could continue “over the next year or two”
- Hurricane Florence downgraded to category 2 strength
- AUD forecasts for end 2018 and into 2019 (higher than current spot)
- Canada's Freeland: Officials have more Nafta work to do before ministers can meet
- Canada's Freeland - Nafta talks continue Thursday in Washington, she won't be there
- Australia jobs report - headline employment change +44.0K (vs.+18.0K expected)
- MAS' Mennon: Tariffs not in the data yet
- PBOC sets USD/ CNY mid-point today at 6.8488 (vs. yesterday at 6.8546)
- Australia consumer inflation expectations for September: 4.0% (prior 4.0%)
- Canada forgn min Freeland briefing PM Trudeau for a second time on Nafta
- USD 'sidelined for the time being … to remain supported on dips'
- Japan PPI for August 0.0% m/m (exp 0.1%) and 3.0% y/y (exp 3.1%)
- Japan Core Machinery orders for July: +11.0% m/m (expected 5.5% m/m)
- Reuters Tankan shows Japan manufacturers' mood slips
- Mohamed El-Erian speaking blockchain, cryptocurrency - 'not dead'
- New Zealand Food Price Index for August: -0.5% m/m (prior +0.7%)
- DB's long term FX valuation model highlights world's cheapest, most expensive currencies
- UK's Raab: Britain will not pay Brexit divorce bill if there is no deal
- Trade ideas thread - Thursday 13 September 2018
- NZD traders - Fonterra milk price forecast out now
AUD/JPY has had a decent session, as have many yen crosses, with USD/JPY gaining 20 odd points in Tokyo morning trade.
Data from Japan today included very strong machinery orders (for July) which should be indicative of capex strength further down the track. But, Capital Economics is not sure on the figures, pointing out a third consecutive drop in core capital goods shipments in July as more reliable indication of capex slowing ahead. That is via a report in the FT (FT is gated)
Data also from Australia today, August jobs report with a well above expected 44K jobs added on the month and solid details elsewhere in the report (see bullets above). AUD/USD was marked up 25-odd points but has not managed to seriously challenge 0.7200. A subdued response to a good report.
Yen and AUD the movers, then, with other currencies more subdued on the session. CHF, EUR, both a bit better (we are talking small moves though please note).Cable is little net changed, USD/CAD ditto after a bit of Nafta news during the session here, (again see bullets above).
Still to come:
- ECB meeting coming up Europe time on Thursday - previews in one place
- Bank of England MPC meeting - previews in one place
- US data due Thursday - CPI for August - what to expect