Forex news for Asia trading Tuesday 26 September, 2017
- Japan economy minister Motegi: Most important to raise Japan potential growth
- Fed's Kashkari spoke earlier today - recap
- Japan fin min Aso says declining population the biggest long-term problem for Japan
- Goldman Sachs on iron ore - more price falls to come
- FX option expiries Tuesday 26 September 2017
- Sth Korean media report on North Korea defence boost along east coast
- Australia - Treasury announce cash deficit not as deep as May forecast
- Barclays on German election: "reinserts politics into the debate over the EUR’s value"
- NZ data - business confidence and activity outlook both fall
- BOJ minutes: Many members said measures of inflation expectations stopped falling
- Japan Services PPI for August 0.8% y/y (vs. 0.6% expected)
- Australia - ANZ Roy Morgan weekly Consumer Sentiment: 114.1 (prior 114.51)
- GBP - Cable has quietly gained 20-odd points
- NZIER’s Shadow Board sees little need for an RBNZ rate rise
- Fed's Kashkari speaking now - live link
- RBA's Bullock says will take high levels of debt into account for policy
- US healthcare legislation headlines crossing
- CBA year end target for AUD/USD
- New Zealand trade balance for August -1325m (expected -825m)
- More on Australia Government ready to limit gas exports "within days"
- RBNZ meet this week, coming up Thursday (NZ time) - preview
It was a generally small range and mixed day for the majors in Asia today with not a lot of news to drive forex markets along.
Cable managed a small gain, edging 20-odd points up in early trade. EUR/USD followed along a little higher on the session also. USD/CHF was basically flat.
After bottoming under 111.50 in the US time zone USD/JPY traded early towards 111.80 before slipping back to down to circa 111.60. There is a bit of talk around of two levels to watch ahead; 111.48 and 111.00 as support and potentially important 'pivot' points. Keep an eye for North Korea news which could give the yen a boost, even if temporarily.
NZD/USD softened a little again today, a wider than expected trade deficit (August) and then a fall in business confidence & activity outlook weighing also. It has barely recovered from lows circa 0.7240.
AUD/USD performed better, after sliding toward 0.7920 its managed to climb 25-odd points. USD/CAD has had a small range but is near its session lows as I update.
The People's Bank of China raised the USD/CNY mid rate again today, underscoring again its limited tolerance for too much yuan strength.
