Forex news for Asia trading Friday 9 December 2016
- Here is the 2016 year in review for the EUR/USD
- Goldman Sachs on when the Trump fiscal boost will hit the US economy
- Fears of Beijing gambling crackdown sends casino stocks crashing
- ANZ's FX Insights: Risk/reward favours selling AUD/JPY (level, target & stop)
- ECB now allowing cash as PSPP collateral ... related to Monte Paschi bailout?
- China data - "the factory to the world may be poised to export inflation again"
- China inflation (November): CPI 2.3% y/y (expected 2.2%) + PPI
- Japan doubles Fukushima disaster-related cost to $188bln
- PBOC sets USD/CNY central rate at 6.8972 (vs. yesterday at 6.8731)
- EUR/USD ("towards parity") & euro generally ... "The ECB delivered a bazooka"
- Goldman ‘overweight’ Aussie stocks for first time since GFC
- Australia - October Home loans: -0.8% m/m (expected -1.0%, prior +1.6%)
- Japan finance minister Aso: 3rd supplemental budget goes to cabinet on Dec 22
- Japan - Q4 BSI survey: Big manufacturers index +7.5 (prior +2.9)
- Goldman Sachs says Oil cuts will "unleash a sharp production response" from US
- What Brexit? (part 2) Barclays look for more investment banking business in the UK
- What Brexit? McDonalds to move its international tax base to the UK
- Saudi Arabia is informing its customers of cuts to their January crude oil supplies
- Nomura's 10 'Gray Swan' risks for 2017
- BNP target EURUSD at 1.04 by the end of Q1 2017
- Trade ideas thread - Friday 9 December 2016
- NZ card spending (Nov): Retail -0.1% m/m (expected +0.4%)
- Soc Gen's Albert Edwards has found the ‘most frightening chart’
It was a more subdued forex session here in Asia today compared with the overnight ructions around the European Central Bank. USD/JPY managed to add on some more gains, popping above 114.50 (but not for too long) and then stabilizing around 40.
EUR, CHF and GBP traded in only limited ranges; on balance EUR and CHF a tad softer against the USD while cable is little changed. AUD and NZD are little changed also. Gold lost a few dollars(not much in it) while oil has been quiet also.
News & data flow was light, little to prompt much in the way of action. The most notable was the big jump in China PPI for November (+3.3% y/y, far outstripping the prior result, and expectations (see bullets above)).
The PBOC weakened the CNY today (given the stronger USD across the board overnight that's hardly surprising).
More:
- This in the Financial Times (may be gated): Japan's economy has grown by 6.3 per cent overnight after it became the latest country to apply new UN standards for compiling national accounts
Why can't we find some New UN standards for measuring inflation along the same lines?
--
Have a great weekend all!
