Forex news for Asia trading Monday 6 February 2017
Gold had the greatest comeback The New England Patriots had the biggest comeback in Super Bowl history, from a 25-point deficit at one stage to win in the first ever Super Bowl that went to overtime. Patriot quarterback Tom Brady makes it win #5 for him, also a record (Brady was named MVP, for the fourth time in a Super Bowl ... yep, another record for the man)..
Oh yeah ... currencies...
Monday:
- Preview of the RBA meeting on February 7 (part 5!)
- Oil analyst says Smart money starting to realize that the OPEC production cuts are real
- DATA China - Caixin (January) Services PMI 53.1 (prior 53.4) & Composite 52.2 (prior 53.5)
- Goldman Sachs - Reserve Bank of Australia preview
- PBOC sets USD/CNY mid-point today at 6.8606 (vs. Friday at 6.8556)
- DATA All the Australian data today - inflation up, offset by Retail Sales Deflategate
- USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD: Weekly Outlook - Morgan Stanley
- Goldman Sachs (Australia) economist Tim Toohey to depart
- DATA Australia - ANZ Job ads (January) : +4.0% m/m (prior -1.9%)
- DATA Australia - Retail Sales (December): -0.1% m/m (expected 0.3%, prior 0.2%)
- DATA Australia - Melbourne Institute Inflation (January): 0.6% m/m (prior 0.5%)
- DATA Japan - Labor Cash Earnings for December: 0.1% y/y (expected +0.4%, prior +0.5%)
- RBNZ meet Thursday 9 February - preview (Goldman Sachs)
- More from SNB's Jordan: Without negative rates, stronger CHF appreciation pressure
- Currency preview into the RBA & RBNZ this week: "AUD/NZD could head lower"
- SNB's Jordan remarks in press on globalisation concerns
- Weekend oil: US refiners face weakening gasoline demand, 1st time in 5 years
- Trade ideas thread to start the week - Monday 6 February 2017
- Reserve Bank of Australia meeting on February 7 - preview
- Economic data due from Asia today (these should reduce SuperBowl ratings ;-) )
- Weekend oil news - recap: Rig count, shipments to Asia
- Weekend: Germany's Gabriel wants to give Italy, France, Portugal time to cut deficits
- Monday morning forex price indications
Weekend:
- Goldman: "risks are less positively tilted than they appeared shortly after the election"
- How to be Goldman Sachs, Denmark style
- It's not often you hear a President disparage his own country
- US appeals court rejects Trump request to reinstate travel ban
- German Minister of Finance Schaeuble says EUR too low for Germany
- Brexit - UK PM May facing a revolt by up to 27 MPs in her Party (27! ... yawn ...)
- Weekend politics: Le Pen campaign, Iran's missiles, US - Japan alliance
Whether it was the Super Bowl of the New Zealand market holiday (I'll give you one guess) it was a subdued sesiion for forex here to open the week in Asia.
USD/JPY had some swings, a 40+ point range with an early high before a slide to circa 112.25 and a bounce then to straddle 112.40. Yen crosses a in general a little softer.
EUR/USD found its high early in the session and has since dribbled of just a few points. For the CHF against the USD, ditto.
Cable is barely changed on the session.
AUD and NZD, too, small ranges and little changed, but NZD the better performer of the two.
Gold ticked higher for the session, up a handful of dollars, while oil is up a little also.
Regional equities:
- Nikkei -0.10%
- Shanghai +0.47%
- HK +0.64%
- ASX -0.12%
Still to come: Join me tomorrow for the RBA Februa Monetary Policy Announcement and accompanying Statement ... previews:
- Preview of the RBA meeting on February 7 (part 5!)
- Goldman Sachs - Reserve Bank of Australia preview
- Currency preview into the RBA & RBNZ this week: "AUD/NZD could head lower"
- Reserve Bank of Australia meeting on February 7 - preview
- Here's an RBA preview (February 7 meeting) - All economists say rates on hold
