Forex news for Asia trading Tuesday 9 June 2015

  • EUR/USD: Whats driving the extreme volatility?
  • Goldman Sachs comments on iron ore - "prices must fall ..."
  • Australia National Australia Bank business confidence: +7 (prior +3)
  • Australia ANZ job ads for May flat at 0.0%
  • China May CPI: -0.2% m/m (expected 0.0%) & PPI -0.1% m/m
  • Australia Home loans for April: +1.0 (-2.0% expected)
  • If you want to attend Greg's free webinar tomorrow - get there early!
  • Shanghai Securities News reports on calls for PBOC to cut rates again
  • Japan Amari: Q1 nominal GDP growth may not be sustainable, to monitor capex
  • PIMCO's 3 bond market signs pointing to US growth & pressure on Fed to hike
  • UK BRC Retail Sales Monitor (May): flat at 0.0% (-2.4% prior)
  • New Zealand manufacturing sales volumes -0.3% q/q
  • More on ECB's Noyer Greece comments
  • New Zealand ANZ Truckometer for May: -1.1% m/m (prior was -0.5%)
  • BOC's Wilkins: Canada's direct exposure to Greek debt very small
  • ECB's Noyer: Doesn't believe Greece can have serious influence on the use of the euro
  • HSBC's Bloxham favours a cut from RBNZ this week

EUR/USD carried on where it left off at the NY finish, climbing again in Asia to above 1.1300 and 1.1325. As in the overnight session, there wasn't a clear catalyst (if buying isn't a clear catalyst, that is). EUR/JPY ground out more gains also.

USD/JPY ticked out a bit of a retrace in the early Tokyo, getting back around 124.70 before dropping back to near its overnight lows around 124.40.

Cable tested 1.5360 and is knocking on the door there as I update.

USD/CHF tested its lows ... similarly, its resting around there as i write.

AUD/USD gained on some stronger domestic data, spiking to above 0.7720 before dropping back around the figure. NZD/USD wasn't quite so strong. Persistent chatter of a possible RBNZ rate cut are keeping it overall offered against the AUD since the latter part of last week.

Gold gained a few dollars, oil gained a few cents.

Central banker activity coming up this week:

  • BoE, ECB and Federal Reserve speakers this week ... another big jump for cable?
  • Central bank activity coming up in Australia and New Zealand this week - cash rate change?
  • NZ Central bank meeting coming up this week - to cut or not?