Forex news for Asia trading Monday 24 July 2017
- Brexit - IMF cuts UK growth forecast for 2017
- July FOMC statement ... this should be one of the more boring Fed releases
- Is the price of Brexit more appearances by Ed Sheeran in Game of Thrones?
- Latest update to AUD 'fair value' - at the top of the range
- President's ratings slide (French edition)
- People’s Bank of China sets yuan reference rate at 6.7410 (vs. Friday at 6.7415)
- Bank of Japan reduces its purchases of 5 to 10 yr JGBs today
- White House: President Trump to deliver statement on health care reform Monday
- Brexit - British households' financial situation deteriorate fastest in 3 years
- Japan preliminary manufacturing PMI for July: 52.2 (prior 52.4)
- A little USD weakness to start the Asian session
- More on the CASS China 6.8% GDP forecast
- China Q3 GDP forecast from CASS: 6.8% y/y
- Wanna buy a Spanish bank? Spain looks at selling more of Bankia
- Approval rating of Japan PM Abe's cabinet has fallen to 39%
- Morgan Stanley's positioning indicator - most extreme USD bearishness since inception
- Goldman Sachs preview of the Federal Open Market Committee meeting this week
- The FOMC meet this week, Reuters ask: Global Turning Point in Monetary Policy ?
- Trade ideas thread - Monday 24 July 2017
- The economic data calendar in Asia today is sparse - here is what's coming up
- Monday morning forex prices, early indications: 24 July 2017
Weekend:
- The EURUSD near highest level since August 2015. What next?
- Saudi Arabia exports to US could start to have an impact on supply
- China doesn't want its companies to go shopping abroad as it cuts leverage
- Canadian dollar still isn't a crowded trade
- Only one currency underperformed the US dollar last week
- Is it next week yet? Morgan Stanley on the upcoming FOMC meeting
- The 6 different elements of FX positioning and sentiment
ICYMI:
Some minor movement in currencies has left rates little changed for the beginning of the week. The USD slid a few points (not quite across the board) as the Tokyo morning gathered pace but soon reversed to come back - to a near 13-month low..
EUR/USD popped to circa 1.1684 and prompted a little perspiration but soon turned itself back, drifting to around 1.1665 and its just above there again as I update. Yes, a small range only but knocking on recent highs.
USD/CHF has edged a few points to the better on the session while GBP/USD has ticked off a small gain to be above 1.3010 as i update.
USD/JPY dipped under 110.80 briefly and edged back to around 111.00. The BOJ purchased JGBs today in a reduced amount compared with its previous operation (5 to 10 yrs at 470bn yen purchased, down 30bn yen) - reported once again as 'tapering' by some, but amounts purchased are now less important, the BOPJ targeting YCC thus making amounts an "endogenous variable" (check this out for an explanation of what this is)
Some slight AUD/NZD buying has seen AUD up a few points (against the USD) while NZD a few to the worse (against the USD). News and data flow of AUD and NZD was near non-existent, as it was for pretty much everything.
Regional equities:
- Nikkei -0.81%
- Shanghai +0.18%
- HK +0.40% ... the Hang Seng looks on track for its strongest close in 2 years today.
- ASX -0.92%
Today looks like to have seen largest-ever venture fundraising in Southeast Asia:
- Grab raised $2 billion from Didi Chuxing and Softbank
- Ups efforts to fend off Uber
