Forex news for Asian Pacific trading on November 30, 2017.
- BOJ Harada: It is possible to raise nominal wages through monetary policy
- Japan construction orders YoY come in at 6.7% vs -11.6% last month
- Japan housing starts YoY October -4.8% vs. -2.8% estimate
- China state planner issues report on China's overseas investment
- The NZDUSD is going the other way vs the greenback on the back of weaker confidence
- Forex technical analysis: EURUSD trades at new day highs
- GBPUSD rises to the highest level since late September
- BOJ Harada: Wages, prices will both increase if BOJ continues current policy
- PBOC fixed reference rate vs USD at 6.6034 vs 6.6011. Prev close 6.6200
- China manufacturing PMI for November 51.8 vs 51.4 estimate
- S.Korea Central bank raises rate to 1.5% from 1.25%
- Australia Private Capital expenditures for 3Q comes in at 1.0% vs 1.0% estimate
- Australia private sector credit MoM for October 0.4% vs. 0.4% estimate
- Australia building approvals MoM for October 0.9% vs. -1.0% estimate
- UK Gfk Consumer confidence comes in at -12 vs -11 estimate for November
- ANZ Business confidence comes in at -39.3 vs -10.1 last month
- Japan industrial production October 0.5% vs 1.8% estimate
- Trump nominates Marvin Goodfriend to be Fed Governor
- Bitcoin technical analysis: The snap correction stalled at MA resistance
- As expected, US Senate has the votes to begin debate
- New Zealand October building permits -9.6% vs -2.3% m/m prior
- ForexLive Americas FX news wrap: Sterling shines, bitcoin bounced
A snapshot of other markets today shows:
- Spot gold little changed at +$0.46 or +0.4%
- WTI crude oil up $0.12 or +0.19% at $57.51
- Bitcoin fell to a low of $9609.90 but recovered and trades at $10,515.70
- In Asian stock trading: Shanghai composite index is down 3.4 points or -0.13%. HK Hang Seng is getting hit hard and trades down -327.91 points or -1.14%. The Japan Nikkei is up 107 points or+0.47%
- US 10 year yield is trading at 2.3828% down -0.5 bp from the close yesterday
The markets continued to cheer the GBP in trading in the Asian Pacific session. The positive feelings toward Ireland's border and agreement on the divorce payment to the EU, are spurring on gains, as is better technicals (see post here). The price of the GBPUSD entered into the region that defined post-Brexit swing highs from June to September of 2016 between 1.3443 and 1.3532. The GBP was the strongest pair for the day
The weakest currency goes to the NZD which was hurt by horrible ANZ Business confidence and activity outlook. The business confidence for November tumbled to -39.3 from -10.1 last month. That was the lowest reading since 2009. Not only did confidence tumble but so did the NZD as it lost ground vs all the major currencies. See the technical view by clicking here.
The NZDs fall on the confidence numbers outweighed better China PMI data (see details here). The PMI for manufacturing came in at 51.8 vs 51.4 estimate. Non Manufacturing was also better at 54.8 vs 54.3 last month.
The China data did give a boost to the AUDUSD in the session. It moved up toward key resistance at the 0.7587-90 and stalled. We trade around that level currently. A move above would be more bullish. For a technical look at the levels and action see the post HERE.
BOJs Harada tried to talk the Japan economy up, but the JPY still weakened. Techncally, it held above a lower trend line and near the 100 bar MA on the 5-minute chart. The high stalled right below yesterday's high. A move above would be more bullish (see chart below)....
Good fortune with your trading....