ForexLive Asia FX news wrap: AUD extends its fall
Forex news for Asia trading Friday 6 October 2017
- Morgan Stanley says Australian credit crunch has begun
- Singapore central bank to issue monetary policy statement on October 13
- More on RBA Harper saying "still not ruling out rate cut" - full text
- Japan election - more on Tokyo Governor Koike's platform (recap)
- Japan trade unions to request a tiny pay rise in about 6 months time
- WSJ article: RBA Still Not Ruling Out Rate Cut
- FX option expiries for Friday 6 October 2017
- Aussie politics: "Influential Australian Senator Nick Xenophon resigns"
- More again from Hope's Koike: Will maintain bold monetary easing
- US data for the September Nonfarm payroll - more previews
- US data due today - Nonfarm payroll for September - Preview.
- More from the Hope Party (Japan election): Will cut spending on public works
- Japan data - Labor Cash Earnings (August): +0.9 % y/y (vs. expected +0.5%)
- Japan election - Koike says should freeze planned sales tax hike
- IMF's Lagarde: IMF supports accommodative policy for ECB, BOJ (full text is here)
- SG says GBP risk is now getting very asymmetric, in favour of the topside case
- Australia - Construction PMI (September): 54.7 (prior 55.3)
- Heads up for some Iran headlines a little later (Trump to speak) (we never did get these)
- HSBC says UK Brexit politics the GBP driver - 'no deal' risk - see GBP/USD to 1.26
- British PM May's deputy says May will carry on as Prime Minister
- Goldman Sachs NFP preview
- UK politics - Amber Rudd urges Prime Minister May not to resign
- Japanese election expectations - BNP say Abe to win. (Also, comments on BOJ policy)
- Trade ideas thread - Friday 6 October 2017
- Fed's George: Waiting too long to remove accommodation risks recession
Pre-NFP days in Asia are often subdued, but not today. The Australian dollar is a big lower, extending its falls from yesterday (post dreadful retails sales data) and overnight. We had lower tier data early, which did not have much of an impact,, but a Wall Street Journal report on comments from Reserve Bank of Australia policy board member Ian Harper cut some of the support from it. AUD/USD hadn't managed to get its nose back above 0.7800 throughout the morning here and on the RBA remarks it slid under 0.7780 and thence lower as the session progressed to circa 0.7745 (just under there). Its just above 0.7750 as I update.
AUD crosses are lower alongside.
CAD lost some ground against the USD, USD/CAD up around 25-odd points from its session low. NZD/USD has hung in better, down around 10 points on the session.
USD/JPY has done little today, its edged sideways around 112.80 or so.
We got some labour market data from Japan today, and some political news (see bullets above).
EUR and CHF both lost a few points against the USD on no news flow of note, GBP also (some early political news re May as PM ... ongoing).