Forex news for Asia trading Friday 22 2016

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  • China Premier Li comments as the G20 gets underway
  • Abe's coalition partner wants shopping vouchers to boost economy (not making this up)
  • AUD to new session low
  • Japan chief cabinet secretary Suga: Working with fiscal authorities on stimulus
  • Chinese companies are swimming in cheap cash, but not spending it.
  • G20 in China this weekend - to focus on trade, fiscal issues, Brexit concerns
  • Japan manufacturing PMI (preliminary): 49.0 in July (prior 48.1)
  • PBOC official says tax cuts more effective stimulus than rate cuts
  • MNI's China Business Sentiment Indicator (July): 55.5 (prior 54.5)
  • PBOC sets yuan reference rate at 6.6669 (vs. yesterday at 6.6872)
  • "Yellen Needs to Make More Speeches"
  • China press with more on China defaults
  • Goldman Sachs' new $5 - $8 bln corporate-buyout fund
  • Man jailed for running bitcoin Ponzi scheme, not for looking like Mathew Perry
  • Full text: Donald Trump 2016 RNC draft speech transcript
  • The post in which I annoy our younger readers in the US
  • Brexit fallout - Steve Cohen has doubled London employees in the last 6 weeks
  • Nikkei reports Japan stimulus package could be as large as 30tln yen
  • Brexit fallout: "So far, so good for the post-Brexit economy"
  • China debt default headache - here are companies reaping the rewards
  • Banks agree, sell the NZD
  • Trade ideas thread - Friday 22 July 2016
  • Japan pension fund to try socially responsible stock picking

The People's Bank of China set the USD/CNY mid point lower today again, it was the sharpest revaluation for the CNY since June 29.

The AUD slipped today, from an early high circa 0.7505 it fell to under 0.7475. Not a huge move, but notable. Kiwi lost ground also.

Early moves were dominated by the yen, with the Nikkei (Japanese media) floating the idea of a 30tln yen stimulus pack sending the yen lower. USD/JPY popped from around 105.75 to around 106.25. As liquidity in the market improved USD/JPY drifted back down again and is now little changed net on the session.

EUR and CHF are more less flat. Cable has a small range.

Gold is lower, off a few dollars only while oil has had a very small bounce.

Its G20 meeting in China, maybe we'll get a bit more activity on Monday in Asia following the meeting.

Regional equities all lower today after falls on Wall Street Thursday:

  • Nikkei -1.22%
  • Shanghai -0.66%
  • HK -0.48%
  • ASX -0.44%

Have a great weekend all!