Forex news for Asia trading Monday 7 March 2016
Monday in Asia
- More from BOJ's Kuroda (in the Q&A). Same old.
- China Stats Bureau comments on the yuan, capital flows
- BIS on the global economy, debt: "signs of a gathering storm"
- BOJ's Kuroda: Will scrutinize the impact of negative rates on money market
- JP Morgan on the BOJ, now expect easing in July (from March)
- More from PBOC deputy governor Yi: FX reserves are reasonably ample
- Asia Monday - oil price higher - short covering and rig count drop cited
- PBOC's Yi: China won't see zero or negative interest rates
- China stocks, futures having a good day
- Japan PM Abe says no extra budget, no early budget but yes on sales tax hike
- China fin min Lou: Increase of deficit ratio this year to support economic growth
- China stockmarket opening indications - Shanghai Comp to open +0.4%
- People’s Bank of China (PBOC) sets yuan reference rate at 6.5113
- PBOC inject 30bn yuan through OMOs today
- PBOC's Governor Zhou: Monetary policy can help economic restructuring
- Australia - ANZ Job Advertisements for February: -1.2% m/m (prior +1.0%)
- North Korean nuclear threat against South Korea and the US - more detail
- China FX reserves data due today
- Some Japanese government departments studying impact of delay to sales tax hike
- Australia - Construction PMI for February: 46.1 (prior 46.3)
- More detail on SNB's Swiss franc, monetary policy comments
- FX trade ideas thread - Monday 7 March 2016 (includes The Key, The Secret)
- SNB's Maechler: CHF still overvalued but moving in right direction
- NZ PM Key tips China to devalue the yuan
- Monday morning Forex prices, early indications - 7 March 2016
Weekend:
- Trump represents America vs Washington (and why he's just the start)
- Chinese economy will "absolutely not experience a hard landing"
- Germany's Schaeuble says Brexit would be a "catastrophe"
- China development planning Chairman: Jan-Feb data showed positive signs
- Super Saturday US primary rundown
- The humorists' take on the RBA and Australian dollar
- Warren Buffett - Daytrader
- China's 5-year Plan: Premier Li says they "must be prepared for a tough battle"
- Ex-MPC member Blanchflower says UK interest rates likely to fall further
- Ray Dalio: Central banks will get so desperate they will give money away
- Jim Rogers says to buy the US dollar with a recession coming
Minor movements across forex today as we await the week to begin in Europe and the US. Remarks out of China's leadership at the National People's Congress and associated forums over the weekend (and continuing into today, the Congress goes until March 14) were cited as contributing to gains in Chinese financial markets, with stock and futures markets climbing despite a ratcheting lower of the GDP growth target for this year to a 6.5-7% range, which I guess means 6.5%
AUD and NZD fell from Friday's closing levels in the NZ morning. Both soon stabilised and held as more FX centres opened for business as the sun climbed across Asia.
USD/JPY lost some ground from early highs but as I write its little changed from Friday's finish.
EUR, CHF and GBP against the USD are all barely changed. Gold moved higher in the Asian morning but has since come back to more or less unchanged, oil is up on the session to open the week.
Regional equities
- Nikkei -0.43%
- Shanghai +0.78%
- HK +0.17%
- ASX +1.11% (ps. The Australian Securities Exchange (ASX) shortened the trade settlement period from three business days to two.)
Still to come:
More:
