Forex news for Asia trading Tuesday 21 February 2017
- PBOC says targeted RRR cut to take effect on February 27
- Goldman Sachs on the PBOC Q4 Monetary Policy Report
- ANZ on the Australian dollar: "A shallower grave"
- Offshore yuan overnight implied deposit rate rises to highest since Jan 6
- Here's the data due from the US today, plus 3 central bank speakers
- NZD traders - dairy auction coming up in London Tuesday
- People’s Bank of China sets yuan reference rate at 6.8790 (vs. yesterday at 6.8743)
- Early USD strength spreading a little
- RBA February meeting minutes: AUD supported by higher commodity prices
- Japan - Nikkei manufacturing PMI for February (preliminary): 53.5 (prior 52.7)
- AUD and NZD orders
- EUR/USD orderboard
- USD/JPY & EUR/JPY orders
- Fed’s Harker: Won’t Take March Hike Off The Table
- USD, EUR, JPY, GBP, CHF, AUD, NZD: Weekly Outlook - Morgan Stanley
- ING is 'mildly bullish' on for USD/JPY this week
- Former IMF economist (now hedge fund CEO ) says USD/JPY to 120 in 6 months
- BOJ Governor Kuroda to appear in the Japanese parliament today
- Australian PM Turnbull interview - link
- China press: China lowers this year’s goal for cutting excess coal production
- Australia - ANZ / Roy Morgan Weekly Consumer Confidence: 113.7 (prior 116.4)
- Striking Escondida copper miners, BHP fail to reach agreement
- Brexit - EU wants Britain to be paying into EU projects up until the end of 2023
- Australia - Westpac reports mortgage delinquencies unchanged in quarter
- Trade ideas thread - Tuesday 21 February 2017
- Australian press: "Australian dollar to crack 80 US cents: Deutsche Bank"
- Japan press: "Yield curve proves hard to steer for nervous BOJ"
- Welcome to Tuesday - here's what's on the calendar
'Twas a US holiday, but that didn't stop FXL!
- Russian ambassador to UN dies suddenly of heart attack
- Circle the calendar: Trump addresses a joint session of Congress Feb 28
- Trump finds a replacement for Mike Flynn
- Saudi Aramco considering New York, London and Toronto
- Forget fake news, how about fake economic data
- Russia ahead of schedule in cutting oil production - Novak
- How to trade 2-steps forward and 1-step back in FX - SocGen
News and data flow was thin today, you'll see in the bullets above the notable events; comments from the Fed's Harker, RBA minutes (February) and Japanese Manufacturing PMI (flash, February) ... to a 35-month high!
The USD found a bit of pep in Asia today, starting off by gaining against the yen and its strength spreading from there.
- The Tokyo morning saw USD/JPY trade up toward 113.40 before finding a bit of sideways. Other currencies soon began to lose some ground against the Dollar,
- EUR/USD dropping under 1.06 (down toward 1.0580)
- NZD/USD also a loser, from circa 0.7180 is slid down to around 0.7155. The upcoming dairy auction in London time may have given it a bit of a push, prices are expected to fall (in the down 3 to 5% range)
- Cable had popped early, not a lot in it - to around 1.2480 but it too lost ground but only a few points net on the session to be lower by only a few ticks.
- USD/CHF was a decent gainer, from under 1.0030 to just under 1.0060
- AUD/USD saw the release of RBA February meeting minutes but it wasn't immune from the USD strength, from just above 0.7685 it lost
USD/JPY continued its climb after grinding through 113.40/50, and its near its session high just shy of 113.70 as I update. Other currencies are a little more mixed, EUR/USD has lost a little more, just under 1.0580. AUD/USD has stabilised, 0.7670 proving sticky. NZD/USD has ticked lower still, approaching 0.7150 but holding above as i write.
Cable has lost more ground, under 1.2440 as I update, and USD/CHF making a a slight new session high around 1.0060
Gold has had a softish day, but not a big range, down around 4USD.. Oil is little changed on the session.
- Nikkei +0.71%
- Shanghai +0.26%
- HK +0.15%
- ASX -0.29%
Still to come; waiting on comments from BOJ head Kuroda, and then during the UK & US timezones: