Forex news for Asia trading Tuesday 27 June 2017

  • More again from Chinese Premier Li Keqiang: Will not resort to massive stimulus
  • More from Chinese Premier Li Keqiang: Capable of achieving growth target
  • AUD/USD pops back above 0.7600
  • Chinese Premier Li Keqiang: Momentum of world economic recovery insufficient
  • Japan press: "3 reasons why Japan wages may rise this year"
  • US says has identified potential preparations for chemical weapons attack in Syria
  • USD/JPY above 112
  • China data - Industrial Profits for May +16.7% y/y (prior +14% y/y)
  • PBOC sets USD/CNY central rate at 6.8292 (vs. yesterday at 6.8220)
  • Bloomberg: "China's Growth Looks Like It's Already Peaked for 2017"
  • Loads of central bank speakers coming up today - Federal Reserve, ECB, RBA
  • USD/JPY popping to new highs
  • Australia - ANZ Roy Morgan Weekly Consumer Confidence 111.8 (prior 112.4)
  • Latest UK consumer confidence survey, lowest in nearly a year
  • New Zealand - Trade balance for May: 103m NZD (expected surplus 419m)
  • White House says CBO can't predict how healthcare legislation will impact
  • Citi on AUD/NZD, looking for AUD/NZD buy opportunities
  • Here's what shoved currencies (and gold) around overnight
  • US Commerce Dept. announces duties on softwood lumber from Canada
  • Trump speaks on relationship with India
  • ICYMI Forexlive Americas FX news wrap: Dollar recovers after fall on durables stalls.
  • Trade ideas thread - Tuesday 27 June 2017
  • Moody's says outlook for US homebuilding sector is positive
  • Economic data due from Asia today - NZ & China the focus
  • US - CBO says 22 million people would be uninsured in 2026 under Senate health bill

The better tone for USD/JPY (& yen crosses) carried over a little into Asia today, taking it above 112 and EUR/JPY above 125.30. The visit to the highs was brief, though, with a statement from the White House that the US had detected potential preparations for chemical weapons attack in Syria and warning Assad that if carried through "He and his military will pay a heavy price". This gave a bit of a bid back to the yen, USD/JPY dropping back toward 111.85.

EUR/USD nudged a little higher over the session, its on its highs for the day as I update but admittedly the highs of a very small range. Cable is a similar story, up a few points for the session. USD/CHF is little changed but is on its lows.

CAD lost a few points on the (early Asia) news of duties being imposed on softwood lumber.

AUD/USD had a move up, piercing its overnight high level. Its upmove more or less coincided with the speech from Chinese Premier Li. Once AUD hit above 0.7600 though it stopped its rise, and is now sitting just below. AUD was helped by a slightly better tone from iron ore and rebar in China today also, both up small.

NZD/USD, meanwhile, slid early but has since recovered (and then some) to be around 0.7295 as I update. Trade balance data from NZ today (May) came in at a miss, imports surging for the month.

Regional equities:

  • Nikkei +0.35%
  • Shanghai -0.09%
  • HK +0.07%
  • ASX -0.09%

Still to come: Strap in, there's plenty!

  • Loads of central bank speakers coming up today - Federal Reserve, ECB, RBA