ForexLive Asia FX news: NZD a winner today, data due tomorrow

Author: Eamonn Sheridan | Category: News

Forex and Bitcoin news for Asia trading Wednesday 14 March 2018

Cast your eye over forex movements in Asia and you'll be saying another typical tight range session here. And, you'd be right.

Still, plenty going on despite the little FX response:

  • We got better consumer confidence data from Australia,
  • a wider NZ current account (investment outflows a bigger than expected drain),
  • comments from an RBA Assistant Governor,
  • Base paJapan (at Toyota at least ... though they are a trend setter)
  • a solid rise for Japanese capex intentions indications (machinery orders a big beat),
  • BOj (Jan) minutes
  • strong China data (which did impact on FX)
  • and a US election!

More on all of these in the bullets above

To address the last one first - some US politics - we are still awaiting a final result and if it is as close as it appears there will perhaps be a delay for a recounting. As I update it appears the Dem candidate is in front, which will be the surprise result. But if the Rep guy does end up winning it's a pyrrhic victory indeed.

The China data showed solid beats for industrial production and investment, but a slight miss on retail sales (see bullets above for detail). AUD/USD found a bit of a spurt after the data and hit its session high around first noted resistance.

NZD/USD has had a better day by far, benefitting notably from buyers of the kiwi against AUD (and others of course). Note, there is big data coming from NZ Thursday morning (local NZ time, Wednesday evening GMT - see bullets .... err, .. below for more on this.

USD/JPY  traded higher toward 106.70 and thereabouts in the Tokyo morning but has since given the small gain all back to more or less unchanged on the day.

EUR, CHF and GBP are all up against the USD. There was nothing in the way of specific news for any of these 3.

And, there is plenty ... Still to come:

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