Forex news for Asia trading Wednesday 21 December 2016

  • China to relax restrictions on equity index trading
  • USD slips further during Asia
  • S.Korea FX authority: Says traders should be cautious near 1200 won per USD dollar level
  • New Zealand - Credit card spending for November -4.2% m/m (prior +2.8%)
  • Japan Cabinet Office upgrades assessment of economy
  • BOJ yield curve control - "the taper that Kuroda and his team had to have"
  • Spoofing ... this is how the police in Australia do it
  • People’s Bank of China sets yuan reference rate at 6.9489 (vs. yesterday at 6.9468)
  • FX hedge funds 2016 performances ... the good, the bad & the ugly
  • If you're wondering about those GM layoffs and Ford factory shut downs ...
  • FT: Theresa May says she wants to negotiate transitional Brexit deal
  • China CASS researcher - China should watch out for systemic risk
  • Australia - Westpac Leading Index for November: +0.02% m/m (prior +0.06%)
  • Time for a Christmas video or two - its the Goldman Sachs 2017 outlook!
  • ECB Chief Economist Praet: "We see moderate but strengthening growth"
  • China: "Sure, take the drone back. But, no, you can't have the cash"
  • FedEx on US & global GDP growth - robust consumer spending
  • Japan press reports on Kuroda - BOJ taking 'a step forward', no yen concern
  • Trade ideas thread - Wednesday 21 December 2016
  • New Zealand Trade Balance (Nov.): -705mln (expected -500m, prior -846m)
  • OIL: Price pop a little after private inventory data shows bigger draw than expected

Some USD weakness in Asia today, with some currencies lagging noticeably though. Fresh news and data flow was light.

USD/JPY popped above 118 in the Japanese morning but failed to sustain above there and fell around 50 points. USD weakness was also seen against the euro, with EUR/USD popping above 1.0410. USD/CHF was along for the slide, down under 1.0270.

Speaking of down under, perhaps that's where the AUD will be left, it underperformed. It attempted 0.7270 a couple of time but soon gave up and is under 0.7255 sa I update while yen, euro and swissy are hanging on to much of the gain.

Cable moved higher from 0.12350, ticking up 30-odd points. The kiwi, too, popped 30+ points from lows around 0.6910 or so to above 0.6940.

All in all, the moves have not been large.

Regional equities:

  • Nikkei +0.15%
  • Shanghai +0.95%
  • HK -0.25%
  • ASX +0.54%

Still to come:

  • 2017 ... Time for a Christmas video or two - its the Goldman Sachs 2017 outlook!