Forex news for Asia trading Tuesday 21 February 2017

'Twas a US holiday, but that didn't stop FXL!

ICYMI

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.

Regional equities:

  • 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: