Forex news for Asia trading Thursday 23 November 2017
- The 5 biggest tasks facing the PBOC
- Comments: If any reputable bank wants 40-50 yards in FX volume/mth, let me know!
- EUR/JPY is up 50-odd points from its session low
- Developments in the Australian FX market: lack of volatility, absence of strong trends
- S&P says new China rules on wealth products could be a brake on credit
- ECB minutes due Thursday (Europe time) - preview
- Man about to launch himself in his homemade rocket to prove the Earth is flat
- Korea FX Official: Don't ignore govt willingness to stabilize fin mkts
- Goldman Sachs on the ‘Fragile Five’
- PBOC sets USD/CNY central rate at 6.6021 (vs. yesterday at 6.6290)
- German politics - heads up for the President to meet with FPD leader today
- Singapore central bank says monetary policy remains appropriate
- British car production +3.5% y/y (October) - exports the driver
- Singapore Q3 GDP +5.2% y/y (expected 5.0%)
- The risks for the USD into year-end - political
- More on the Reuters report: ECB hopes to go into policy hibernation, sources say
- German fin min says indicators suggest upward economic trend will continue
- CBA on the ECB minutes due Thursday, more on the ECB, and on the euro
- Australian warning about China rise in Asia
- NZ government tax working group will consider GST and also Capital Gains Tax
- "Britain crashes out of world's top 5 economies"
- New Zealand Q3 Retail sales excl. inflation: +0.2% q/q (expected +0.1%)
- Trade ideas thread - Thursday 23 November 2017
- ForexLive Americas FX news wrap: Dollar clobbered ahead of holidays
- MOAR NZ news - Pressure building on Fonterra's farmgate milk price
- Warning issued to landlords who own more than 600,000 residences throughout NZ
- Economic data due from Asia today (not much!)
Asia got an early jump on the US Thanksgiving Day holiday with not too much movement in forex.
Data flow was light, with New Zealand Q3 retail sales (a beat but well down on the blowout result in Q2), Singapore Q3 GDP and a few other items only.
News flow was light indeed.
The NZD popped a few points higher on the retails sales report. There was only 10 or so points in it for NZD/USD and it soon fully gave it all back before drifting 10 points the other way. AUD/USD has also had a tiny range on the session.
Yen crosses were a little more active, EUR/JPY triggered a few stop loss sells under its overnight lows (very late NY time lows) and then rapidly (in the context of the session at least) bounced back for a range of around 60 points.
USD/JPY dropped a few points at the same time and bounced at the same time, for a range of around 30-odd points.
EUR/USD is net 15+ points up from its lows on the session. USD/CHF is barely changed while Cable has ticked up a little from early lows in a small range.
Europe/UK time should provide some activity, reminder - its ECB Minutes day:
US markets will be closed for the holiday.
