Forex news for Asia trading Wednesday 8 April 2015
- BOJ announces - no change - on hold
- Soc Gen has multiple reasons why the euro will continue to depreciate ... parity is a way off though
- RBNZ may impose more lending controls to counter surging property market
- Morgan Stanley - risk of further USD correction, EUR/USD likely to benefit the most - trade recommendations
- FOMC Minutes due on Wednesday - TD says they'll be 'dovish'
- FOMC Minutes due on Wednesday - SocGen says watch for exit details
- Barclays says Greece concerns likely to weigh on the EUR & broader risk sentiment
- Japan - BoP Current Account Balance for February: ¥ 1440.1Bn ( expected ¥ 1196.0B)
- Australia - ANZ Roy Morgan Weekly Consumer Confidence: 109.7 (prior was 112.3)
- Where to now for the RBA? Eyes on the May 8 Statement on Monetary Policy
- British Retail Consortium (BRC) Shop Price Index: -2.1% y/y (prior was -1.7%)
- Latest UK poll: Labour 35%, Conservatives 33%
- Westpac on the AUD & RBA: 0.75/0.78 could be in place for some time to comeBOJ announcement today, and a Kuroda press conference following - preview
- CNN reports Russia hacked White House communicationsShell in talks to buy BG Group, deal could be worth around 31 bn GBPAPI crude oil inventories up 12.2 ml barrels
It was BOJ announcement day!
EUR/USD ticked 35-odd points higher on the session, and is now trading just below 1.0840 (as of writing). GBP/USD played out a similar sort of pattern, and a similar points range, gaining around 35 points or so from its lows before stabilising also. The CHF was similar.
Oil fell on the release of the API data (see bullets, above) and then sat sideways since.
AUD and NZD bounced too from the late NY lows. There was little in the way of fresh, market-impacting news.
Ahead of the BOJ the USD/JPY drifted lower, slowly but consistently losing ground, down about 30 points from overnight highs. On the announcement (no change to policy) the USD/JPY had a wild wiggle, down to around 119.92 and as high as around 120.24 , but it soon moved a little lower, just above 120.00 as I update.
