Forex news for Asia trading Thursday 14 September, 2017
- Thursday previews: Swiss National Bank & Bank of England meetings; US CPI
- Volkswagen and JV to recall 4.86 million vehicles in China (re airbags)
- Vietnam cent bank gov asks banks to stop using tricks to break celling on FX
- China's Stats Bureau says yuan exchange rate to remain at proper level
- US CPI data due for August today - here is a preview
- China says irrational overseas investment effectively controlled now
- China (August) Industrial Production: 6.0% y/y (expected 6.6%)
- China - August data for Retail Sales 10.1% y/y (expected 10.5%) + investment data
- ANZ lower their forecasts for New Zealand GDP growth
- White House says Trump had constructive meet with Dems Schumer and Pelosi
- Australia Employment Change (August): +54.2K (expected +20.0K)
- Goldman Sachs on what to expect from the US inflation data due today
- Today's option expiries - Thursday 14 September 2017 (for the 10am NY cut)
- PBOC sets USD/CNY mid-point today at 6.5465 (vs. yesterday at 6.5382)
- New Zealand data: ANZ consumer confidence +2.9% m/m
- Japan earthquake - Saitama. Magnitude 3 on 7 point Japanese scale
- SNB in focus: We stay long EUR/CHF - Credit Agricole
- SNB monetary policy meeting today - preview. Expect jawboning on the CHF.
- Bank of England (preview) to balance Brexit and inflation as it seeks right note on rates
- UK data: - RICS house price balance (August): +6% (expected 0%)
- Big data day from the US on Thursday - consumer price inflation the focus - preview
- New Zealand election due September 23 - opposition party say no new taxes pre-2021
- Australian Labour Market Report for August due today - previews
- US Treas Sec Mnuchin: We're on track to get tax reform done this year
- The Bank of England monetary policy meeting is today - preview
- UK PM May to make a Brexit speech on September 22. She's off to Italy to do so.
- ICYMI: Forexlive America FX news wrap: US dollar likes Trump's bipartisan overtures
- NBC reports North Korea observed moving mobile missile launchers, preparing hard sites
- Australian Labour Market Report for August due today - preview
- Trade ideas thread - Thursday 14 September 2017
- German fin min: Junker's speech about future of EU is in line with Germany's views
- Economic data due from Asia today - China & Australia the focus
- Record closes for the bunch. S&P, Nasdaq and Dow close at record levels.
- Forex technical analysis: What levels to eye through the AUD employment report
- UK Chancellor Hammond says during Brexit transition cliff edge will be avoided
I am going to start with this, given what happened last time:
- One for the NZD traders .... a New Zealand election poll (Colmar-Brunton) will be released at 0600GMT
Oh and this too, coming later:
USD/JPY had a (very small) dip in late NY/early Asia with NBC tweeting that North Korea was seen to be prepping for a missile launch. The dip was brief though, USD/JPY (and yen crosses) stabilised after a small move only. From sitting circa 110.45/50 for a couple of hours USD/JPY moved higher, back above 110.70 and therefore over the US time highs. Headlines on US President Trump getting along so well with US Democratic congressional leaders Schumer and Pelosi helped USD/JPY on this small pop,
but it was unsustained and we are back under 110.50 as I update.
EUR, CHF, CAD and GBP have all had subdued ranges against the USD here in Asia with little in the way of news to drive moves.
AUD/USD has been more active; a very slight drift down (towards 0.7970) ahead of the much-awaited jobs report for August and then a sharp mark-up (to above 0.8010) on a stunning, huge beat of a result:
And, its not just a one-off, the strong gains come following much better reports earlier in the year. From above 0.8010 AUD/USD has come back a little. It fell back under 0.8000 on the Chinese data, a pretty much across the board miss for these various data points:
- China (August) Industrial Production: 6.0% y/y (expected 6.6%)
- China - August data for Retail Sales 10.1% y/y (expected 10.5%) + investment data
As I update the Aussie is back above 0.8000.
