Forex news for Asia trading Thursday 14 December 2017
- "PBOC Raises Market Borrowing Costs in Surprise Move After Fed"
- ECB meet today - preview. And the BoE too - preview.
- 96% of economists agree bitcoin is a bubble. So I guess it isn't.
- Swiss National Bank meet today - preview #2 (and one for Norges Bank also)
- China (Nov.) data: Industrial production +6.1% y/y (exp. +6.1%), and other data also
- China injects funds through MLFs, raises MLF & RR rates
- Heads up for China data due at the top of the hour
- 'Stunning' Australian jobs growth data - responses coming in
- The one thing Bitcoin commentators share with other market commentators - hindsight trading
- PBOC sets USD/CNY central rate at 6.6033 (vs. yesterday at 6.6251)
- Australia Nov. Employment Change +61.6K (vs. expected +19K)
- Japan manufacturing PMI - the 'flash' for December out now
- Big Aussie data due at the bottom of the hour - November jobs report
- UK data - RICS house price balance for November: 0 % (expected 0%)
- New Zealand half year economy & fiscal update out now
- Australia - Consumer Inflation Expectations (December): 3.7% (prior 3.7%)
- USD - BoA / ML say upside risks remain underpriced
- US Primary Dealers' outlook for the FOMC into 2018, and what Powell will do
- Swiss National Bank meet today (focus on the CHF) - preview
- Federal Reserve's Brainard: Many people sidelined from job mkt are back at work
- South Korean fin min comments (this time not threatening bitcoin traders!)
- USD/CAD - BoA / ML warn CAD longs are at risk, look for retest of 1.33
- Australia jobs report due today - preview 5 (and 6 and 7 ...)
- Activity data due from China today - quickie preview
- Australia jobs report due today - preview 4
- Australia jobs report due today - preview 3
- Trade ideas thread - Thursday 14 December 2017
- ForexLive Americas FX news wrap: Fed hikes but dollar falls
- Australia jobs report due today (includes an added bonus update!) - preview
- Economic calendar due from Asia today (MOAR Fed speak)
- It's about the FOMC today, but will be about the Australian employment in the new day for the AUDUSD
he People's Bank of China edged rates on their MLF funds issued today by 5 basis points, and on 7 & 28 day reverse repos by 5 bps also. Talk about baby steps.
The other news item of note was the huge jump in Australian employment (November), coming in 3x the median consensus expectation (+61K vs. +19K expected), further details at the post (see bullets above).
The Australian dollar was a (relatively) big mover on the session, up 50 or so points ... actually nah, not even that much: from circa 0.7630 prior to the data to a high around 0.7675 where it halted and has since wobbled more or less sideways. The general perception out there is that yes, good data, but such a pace of gains is unlikely to be sustained and wage growth is lacklustre anyway. Tough crowd, eh?
NZD/USD and USD/CAD have both done little during the session.
USD/JPY had a further late slither lower in the US afternoon/very early Asia before recovering just a few points to top ahead of 112.80. EUR/USD managed to tic up a few extra points in the Asian morning to above 1.1840 and is just off there as I update.
Cable too, a little higher for the session, adding another 20 or so points to its NY time high. USD/CHF is little changed.
Stay tuned for central bank's galore during Europe/UK time:
- Previews of today's European Central Bank meeting
- Previews of today's Bank of England meeting
- ECB meet today - preview. And the BoE too - preview.
- Swiss National Bank meet today - preview #2 (and one for Norges Bank also)
- Swiss National Bank meet today (focus on the CHF) - preview
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