Forex news for Asia trading Friday 23 September 2016

  • WSJ asks: Is OPEC All Talk?
  • Japan's Suga: If excess volatility, disorderly FX moves, govt ready to take action
  • ANZ: US/Yen test below 100 possible, likely means AUD/JPY is set to test lower as well
  • Japan finance minister Aso: Must not rely solely on BOJ to spur economy
  • MNI China Business Sentiment Indicator (September): 55.8 (prior 54.1)
  • Japan economy minister Ishihara: No comment on specific FX levels
  • PBOC sets USD/CNY central rate at 6.6670 (vs. yesterday at 6.6513)
  • Japan Manufacturing PMI (flash, September) : 50.3 (prior 49.5)
  • M6.4 earthquake hits southeast of Tokyo
  • Air pollution news - VW wins award for automatically producing fewer emissions
  • CBOE in talks to acquire Bats Global Markets Inc.
  • JPM quant 'wizard' now favours "a continuation of ... reflation ‘risk-on’ trades"
  • BNZ maintain call for November RBNZ rate cut
  • Forex prices to get even faster! EBS set to launch ultra fast data service
  • Trade ideas thread - Friday 23 September 2016
  • Oil - pre-Algiers OPEC meeting in Vienna "yielded no major breakthrough"

Yen a mover here in Asian today. As Tokyo got underway yen sellers were active, taking USD/JPY above 101 and slightly higher. Chater was it was fix-related but 0055GMT came and went and USD/JPY didn't slide back, instead popping again soon after to above 101.20 where it subsequently found some resistance and halted its rise. A few threatening remarks from the Japanese administration had little impact.

A stronger USD was seen across the board too, well, a little strength at least. USD/CHF ticked above 0.9700 while EUR/USD dropped back below 1.12.

Cable softened also, a 30+ point slide for it to just above 1.3050 and then another leg lower as I update to under 1.3040. Its been a very light day for news for any of the currencies, GBP included.

AUD and NZD are lower on the session, the kiwi the weaker of the two by a little. Neither had big ranges.

Gold is down small, as is oil.

Regional equities:

  • Nikkei -0.12%
  • Shanghai -0.14%
  • HK +0.06%
  • ASX +0.69%