Forex news for Asia trading Thursday 3 August 2017

The Australian dollar was a loser today, lower ahead of the trade balance data. The data came in at quite a miss:

AUD/USD was above 0.7960 in late US time and had a small, but steady, drift down to under 0.7920 before stabilising somewhat. It wasn't only the AUD though, CAD and NZD both lost against the USD.

USD/JPY traded a 20-odd point range, finding sellers above 110.80 and then steadying a little from circa 110.60. A small range with little to drive it news nor data wise today.

EUR/USD had slid a few points lower, with an even narrower range than USD/JPY. USD/CHF is very little changed.

Cable is treading water ahead of the Bank of England announcement during the London morning, its had a 20-odd point range from just over 1.3230 to just under 1.3210.

Gold was a mover early in Asia - it saw some selling in the thinner liquidity pre-HK trading time. Some stop losses were triggered for a sharp move lower and a nearly equally sharp bounce once done. Its net still a little lower on the session around 1262 as I update.

Regional equities:

  • Nikkei -0.35%
  • Shanghai -0.24%
  • HK -0.10%
  • ASX -0.28%

Still to come: Bank of England MPC meeting today - 5 previews (all in one place)