Forex news for Asia trading Monday 7 December 2015

Monday:

  • BOJ Governor Kuroda: Effects of QQE gradually becoming more evident
  • China will cut trading hours for stock-index futures from January
  • China: Citic Securities says it has been unable to contact two executives
  • Preview of the RBNZ monetary policy meeting this week, and trade for the NZD
  • Deutsche Bank on the Fed: Almost certain to raise rates at the FOMC
  • China Securities Journal: Think tank says economy to grow 6.5% or more in 2016
  • "As Oil Keeps Falling, Nobody Is Blinking": oil glut set to continue in full force
  • More from BOJ's Sato: BOJ cannot buy JGBs indefinitely at current pace
  • BOJ's Sato: Difficult to expect energy price recovery in the short term
  • People’s Bank of China (PBOC) sets yuan reference rate at 6.3985
  • NZ Treasury: Key economic data point to a pick-up in GDP growth over the H2 of 2015
  • Australian sentiment to be buoyed by innovation statement
  • Australia - ANZ Job Advertisements for November: +1.3% m/m (prior +0.4%)
  • "Gold prices ... in 2016 ... to below US$1000 by H2 2016"
  • Reuters Tankan show improving Japanese manufacturing firms' sentiment
  • Preview of the SNB monetary policy meeting this week and implications for the CHF
  • SocGen says EUR/USD has limited upside - levels and targets
  • Australia - AiG Construction PMI for November: 50.7 (prior 52.1)
  • ECB water cooler rehashes continue ... more from 'sources' on what they were thinking
  • France regional elections - National Front polls strongly
  • Trade ideas thread to begin the new week - Monday 7 December 2015
  • Japan to reduce planned issuance of JGBs for FY 2015 by about 450bn yen
  • Japan government considering small business capex tax break
  • Monday morning Forex prices, early indications 7 December 2015

Weekend:

  • What are the toughest currencies to trade? Here's a hint
  • Morgan Stanley weekly forex outlook
  • UK PM Cameron raises the pressure on the EU for concessions
  • ECB governors criticised Draghi for trying to paint them into a corner - sources
  • Ray Dalio: Don't fade Mario Draghi
  • Grab a ForexLive t-shirt for the holidays

Oil traded lower in the Asian opening to the week after OPEC Friday. There was little in the way to cheer oil bulls Friday or over the weekend and action reflected that here in Asia. Gold maintained its gains from Friday, a sideways session here today.

Across FX markets it was a subdued beginning to the week, with little in the way of market-moving news. Politics in France will bear watching I the weeks and n=months ahead as the regional election results turned poor for Hollande.

EUR is a little down on Late Friday levels. If it crosses a few spreads to the topside, though, that comment will be rendered void, the move has been tiny.

Tiny too for the CHF, with USD/CHF up marginally. Cable is barely changed.

USD/JPY has edged a few points higher.

Even AUD and NZD have been restrained. NZD is lower on the session, down around 25 or so points to qualify as 'most exciting' for the session here. The RBNZ meeting comes up later this week, its a close call (see preview, above). AUD is barely changed .

Regional equities with Shanghai closed for the lunch break:

  • Shanghai +0.40%
  • Nikkei +1.34%
  • HK +0.41%
  • ASX +0.14%