Forex news for Asia trading Friday 19 May 2017

  • Citi on North Korea “risks are ratcheting higher now than in the past”
  • New Zealand (April) Credit Card spending: +0.9% m/m (prior +0.8%)& +6.4% y/y (7.1%)
  • ANZ - political turmoil easing, oil bid as OPEC continues talk up continuation of cuts
  • RBNZ renews currency swap facility with PBOC (why, what for? ... etc.)
  • Fitch ratings says Geopolitical tensions rise; China hard landing risk recedes
  • Trumps Budget Said To Include Family Leave, 6 Weeks Paid Leave To New Mum & Dads
  • PBOC sets USD/CNY central rate at 6.8786 (vs. yesterday at 6.8612)
  • BOJ JGB buying operation in same amounts as prior
  • Two Chinese fighter jets intercept US Air Force plane over the Yellow Sea
  • Asia-Pacific trade talks this weekend. TPP and also US trade to be discussed
  • US Navy moves second aircraft carrier near North Korea
  • More on Greece approving pension cuts, tax hikes and a happy EU/IMF
  • Is the PBOC using stronger yuan fixings to prevent panic from spreading?
  • New Zealand data: Net migration in April 5780 (prior 6130)
  • Citi on the USD: More room for it to fall
  • Central Bank of Chile cuts benchmark rate
  • New from ForexLive: Marital advice (AKA basics for traders)
  • Tsipras: #Greece has done its part, lenders must fulfil commitments on debt relief
  • ICYMI: Forexlive Americas FX news wrap: Dollar rebounds after yesterday's tumble.
  • Westpac on the Australian dollar - watch 0.7410
  • Trade ideas thread - Friday 19 May 2017
  • Greek parliament approves reforms agreed with EU & IMF
  • ICYMI - Japanese Q1 GDP data came out Thursday, here's the 10 second summary
  • If you see a 70% Japan rate hike headline, relax, its not what you think
  • Trump remarks on Comey, Russia crossing

Both new US politics news and data flow were very, very light indeed in Asia today. We did get a little 'geopolitical' news, with reports a second US carrier is being moved in close to North Korea for exercises and also reports on China 'intercepting' a US Air Force plane over the Yellow Sea (this is said to have happened on Wednesday).

USD/JPY slid from early highs circa 111.60 down to around 111.15/20 in a subdued manner. EUR/JPY fell on the session alongside, with EUR/USD not doing too much at all, a minor wiggle or two. USD/CHF, too has shown little movement while GBP/USD has edged up a handful of points or so.

A little AUD/NZD selling has seen AUD/USD pop just a few points while NZD/USD has slid a few points. Movement is very small indeed though.. USD/CAD dipped toward 1.3590 but is around 1.3600 as I update for another pair with little net movement for the session.

Gold is a tiny bit up, but oil has gained - an extension to OPEC production cuts cited again as a reason for the better tone.

A subdued session to round out what has been an active week in Asia.

Regional equities:

  • Nikkei -0.16%
  • Shanghai -0.07%
  • HK +0.21%
  • ASX -0.30%

Still to come:

  • The Fed's Bullard speaks during US time (1315GMT), and before that we get German PPI (0600GMT)