Forex news for Asia trading Friday 2 December 2016

  • Ex-PBOC Yu - China should step up capital controls but cut FX intervention
  • CBA (Commsec) on what they expect from RBA and GDP next week
  • Reuters poll on outlook for the RBA: 64/64 polled see on hold next week
  • USD/JPY reversing (nearly) its morning move now, up through 114 again
  • OIL - How Putin, Khamenei and Saudi prince got OPEC deal done
  • 5 things to watch in the NFP report
  • Stats NZ have delayed Q3 GDP data to Dec. 22 (cites earthquake for delay)
  • Australia retail sales data recap - 'Welcome relief for the economy'
  • Reminder: Austrian election this weekend
  • Bernanke: Fed is very close to its goals, thinking of hikes is a good sign
  • PBOC sets USD/CNY mid-point today at 6.8794 (vs. yesterday at 6.8958)
  • Australia - Retail sales for October: +0.5% m/m (expected +0.3%)
  • Trump's Carrier deal worthy of 'banana' republic: Mexico official
  • Yen crosses continue to lose ground. USD/JPY under 113.80.
  • SocGen's EUR/USD, USD/JPY setups & targets on long term charts
  • Japan - Monetary base for November: +21.5% (prior +22.1%)
  • Australia Q3 GDP - bank forecasts so far (one is negative)
  • More Japan press on GDP: Q3 likely +2.2%
  • Trade ideas thread - Friday 2 December 2016
  • NFP previews & forecasts from Barclays and Goldman Sachs

Ongoing rises in US Treasury yields overnight didn't help the USD too much, and that generally continued into Asia today. USD/JPY was once again a decent mover (for a pre-NFP session anyway), dropping during the Tokyo morning from above 114.10 to circa 113.60 before a recovery back toward 114. As I update it has popped above 114 briefly before back down. (Relevant) News flow has been virtually non-existent.

Meanwhile, EUR/USD had edged a few points higher in a very quiet & subdued, but fairly steady, fashion, and is on its session high as I post. USD/CHF is little changed, while cable, like EUR/USD, is a few points to the better.

AUD popped a few points after a beat on October retail sales data (a data beat has been an unusual occurrence from Australia this week) but the small pop hasn't sustained and its now little changed on the session. NZD is subdued & also a few points to the upside.

Gold is up just a few dollars; oil is showing little net change.

Still to come:

  • Austrian election and Italian referendum this weekend

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