Forex news for Asia trading Tuesday 22 August 2017
- GBPUSD in a holding pattern - bias for a move lower - levels and risks ahead
- Coming up during Europe Tuesday - EUR to weigh on business survey (previews)
- Philippines finance secretary warns on PHP intervention
- NAB's revisions to their AUD forecasts
- Australian confidence data from earlier: "Consumers wary, but still spending"
- US Def. Sec. Mattis - Joint Chiefs head to prepare to carry out Trump's strategy
- Trump says he will not talk about numbers of troops or plans for military activities
- PBOC sets USD/CNY central rate at 6.6597 (vs. yesterday at 6.6709)
- Heads up for US President Trump speaking at the top of the hour - live link
- USD/JPY a little higher as Tokyo underway
- Australia - ANZ Roy Morgan Weekly Consumer Confidence 109.2 (prior 111.7)
- 37% of Japan firms see 2 % BOJ inflation goal taking >3 years, 31% say its impossible
- US Treasury secretary Mnuchin at Fort Knox: “I assume the gold is still there”
- US President Trump to speak tonight - there's a preview for that
- Kuwait oil minister says output cut extension talks will be discussed in Nov.
- HSBC on the BOJ "cookie monster" - has gobbled up most of the JGBs it can
- Oil - Exxonmobil says no injuries reported at refinery fire; rest of refinery operating
- Ray Dalio on politics - will affect markets more than any time in our lifetimes
- OIL - joint OPEC/non-OPEC technical committee estimates 94% compliance
- Here is that Goldman Sachs tweet throwing shade on the US President
- Barclays on the BOJ's dilemma
- Trade ideas thread - Tuesday 22 August 2017
- Stay tuned for more US politics - US Pres to address nation at 9pm ET
- Economic data due from Asia today - Australia weekly consumer confidence
USD/JPY was a mover here in Asia today, higher during the Tokyo morning. It finished the US session in a choppy 108.80/90 sort of range before popping higher, above 109 then 109.10 , consolidating there and then adding to its gains towards 109.30 where it has so far halted. There are reported stop loss buyers clustered above 109.50, something to be aware of should we approach there.
There was some movement in other currencies in the early part of the USD/JPY gain, AUD/USD popped toward 0.7950 but has since given back all of its (admittedly small) gain.
Elsewhere EUR/USD has traded a small range, trying circa 1.1820 and then slipping back to under 1.1810. The CHF is a little weaker against the USD also, but again a small range; above 0.9630 as I update. Cable found selling ahead of 1.2910 and is under 1.2890 as I post - a small range here also.
USD/CAD is little net changed on the session while NZD/USD is near its session low. Gold is off a few dollars.
The People's Bank of China set the CNY mid-rate against the USD at its strongest since September 22 last year.
News and data flow was light, the focus (if there was one) was US President Trump's speech on Afghanistan strategy (see bullets above).
Regional equities:
- Nikkei +0.21%
- Shanghai +0.15%
- HK +1.07%
- ASX +0.35%
Still to come:
