Forex news for Asia trading Friday 3 November 2017
- NFP due Friday US time - previews
- Norway is ready to intervene if needed to avoid a housing crash
- SG weekly FX outlook - sticking with yen shorts for now
- Next week is a big week in Australia - RBA preview
- Australia - reweighting of CPI likely to take it lower
- Add this to the FX option expiry list
- Australia consumer sector woes - add this to the list of reasons
- PBOC injects 404bn liquidity via MLFs
- China - Caixin PMIs (Oct) Services 51.2 (prior 50.6) Composite 51.0 (prior 51.4)
- Forex update (at 10.30am Tokyo time) - AUD the biggest loser
- PBOC sets USD/CNY central rate at 6.6072 (vs. yesterday at 6.6196)
- FX options expiry for Friday 3 November 2017
- Australian retail sales for September: 0.0% m/m (expected +0.4%)
- UBS on Powell as Fed Chair - Strategy's view for markets
- EUR/USD technical analysis: support & resistance levels. "Stay negative"
- More on Venezuela to restructure foreign debt
- Is President Trump's Twitter account gone?
- Its NFP Friday - previews
- Australian Retail Sales data due today - more previews
- Australian Industry Group Service PMI for October: 51.4 (prior 52.1)
- Venezuela to restructure all debt after Friday
- Australian Retail Sales data due today - previews (and expected AUD impact)
- Australia - October CBA Services PMI 53.0 (prior 53.2) & Composite 53.1 (prior 53.1)
- Welcome to NFP Friday - preview (via Goldman Sachs)
- Economic data due from Asia today
- Senate Dems leader says Powell will get a thorough vetting
- Trade ideas thread - Friday 3 November 2017
The Australian dollar was a big loser today (relatively speaking), dropping after a very poor showing (again) on retail sales data. The m/m change for September came in well below expected and followed a similarly dire result in August (well, August was worse).
For detail:
- Australian retail sales for September: 0.0% m/m (expected +0.4%)
- Australia consumer sector woes - add this to the list of reasons
AUD/USD had been quiet mainly just above 0.7710 but was marked down to lows circa 0.7782 before stabilising a little around 0.7685 (as I update). NZD/USD, meanwhile, had a better session, it's a few points up on earlier levels with little in the way of news nor data of impact.
Elsewhere movement was more subdued. It was a pre-NFP day which is typically (though not always) a day of waiting for Asia. In addition it was a Japanese holiday (Culture Day).
USD/JPY drifted around 20 points lower but is now trading circa 114.00 - again little in the way of news nor data. EUR/USD had a similarly quiet session, a small range: ditto for USD/CHF and even Cable (slightly to the better following its big overnight fall). USD/CAD is relatively stable also.
In addition to the NFP from the US there is datae for the trade balance, ISM and factory orders - though it's the nonfarm payroll that is the big focus.