Forex news for Asia trading Thursday 16 April 2015

  • China - Yuan set to have a strong finish to the week
  • New Zealand inflation data release due Monday - preview
  • Timing the EUR/USD trade - Where to from here?
  • Australian dollar traders - RBA governor speech coming up on Monday (sort of)
  • China - People's Daily front page - 7% GDP growth is not a cause for concern
  • BNP says the ECB's statement of intent is all the more powerful
  • Bloomberg survey says Chinese money managers overall boosting share holdings
  • NZ finance minister has some advice for Australia on a potential risk to the economy
  • EUR/USD: BNP say Greek deal unlikely by April 24, see a May deal to avoid default
  • New Zealand dollar heading lower - Morgan Stanley say RBNZ to cut rates in Q4
  • EUR/USD technical analysis - Elliot Wave view from Morgan StanleyDeutsche: Liquid markets could quickly turn illiquid in response to a shift in Fed policy or some other shock
  • Rates - Which central banks around the globe are cutting, on hold, or hiking?
  • HSBC Australia chief economist Paul Bloxham - expects RBA to hike interest rates in 2016
  • Australia - overnight press - "RBA's Edwards welcomes jobs data"
  • UK election Labour's Miliband says will not form a coalition with the SNP
  • CME lowers margins for copper, platinum, iron ore futures
  • "Fed officials express increasing concern over weak economic data"
  • Fed's Fischer: Exchange rates tend to overshoot
  • Nikkei - Japan's big companies raising pay by most in 17 years

Relatively quiet day for the currencies in Asia today to round out the week.

EUR/USD, Cable, USD/CHF and even USD/JPY all had subdued and quiet ranges.

AUD/USD drifted lower overall, down around 35 points or so for where I walked in.

Funds selling was cited, as were a few stops below 0.7780. OIS pricing for a May 5 RBA rate cut edged back to regain some its losses after the robust employment report yesterday, its currently sitting around 61%.

The NZD followed a similar sort of pattern to the AUD, with not quite so much movement to the downside.

Oil drifted lower through the session. Gold was more or less flat, but it did have an early run higher (then retraced it all).