Forex news for Asia trading Wednesday 17 February 2016

  • Goldman Sachs: EUR/USD, USD/JPY: Drivers & Targets
  • Commerzbank highlights contagion risk in China's banking sector
  • More from ECB's Nowotny: Serious discussion at ECB re March meeting
  • China Commerce Ministry: No basis for yuan to see continued depreciation
  • China CPI data due Thursday - NDRC says vegetable prices will have a big impact
  • China NDRC: Can keep yuan exchange rate basically stable
  • "PBOC’s RMB fix sends shudder through Asia"
  • Australian Treasurer Morrison speaking, not shocked by China slowdown
  • US defense official confirms "apparent deployment" by China of missiles
  • PBOC sets yuan reference rate for today at 6.5237
  • PBOC open market operations today: Injects 10bn yuan today
  • Fed's Rosengren in Q&A: Fed needs to see progress on both mandates to raise rates further
  • Fed's Rosengren: More gradual US policy tightening appropriate
  • ECB's Nowotny: Turbulence in mkts being driven by developments in EM
  • Japan data: December Core Machine Orders +4.2% m/m (expected 4.4%)
  • China's record expansion of credit is a clear indicator of policy priorities
  • Australia - Westpac leading index (January): 0.0% m/m (prior was -0.3%)
  • Jeb Bush gun picture provokes questions, controversy
  • Fund manager survey shows cash balances at highest since 2001
  • Warren Buffett's oil investment two word summary - buy MOAR!
  • Reuters poll indicating two Federal Reserve interest rate hikes likely this year
  • Hump Day trade ideas thread (welcome to Wednesday!)

The People's Bank of China set the mid-point for USD/CNY more than a big higher than yesterday's setting, reigniting talk of further devaluations.

AUD/JPY was sold off immediately in response and while having bounced, has lost ground again and is back near session lows as of updating. NZD, too, is lower.

EUR, meanwhile has gained from session lows around 1.1120 to be up around 1.1160, CHF too has shown a little strength against the USD. Cable is little changed on the session.

USD/JPY, AUD/USD, NZD/USD all on or near session lows as uf posting.

Federal Reserve of Boston President Rosengren delivered an unsurprisingly dovish take on the economy and Fed outlook in a speech (and subsequent Q&A) today.

Gold bounced back from earlier lows, back above 1205. Oil ticked a little higher but has given some back to be not much changed on the session.

Reports of Reserve Bank of India intervention today to support the INR.

Regional equities:

  • Nikkei -2.08%
  • Shanghai -0.24%
  • HK -0.5%
  • ASX -0.64%