Forex news for Asia trading Monday 11 May 2015
Monday:
ABN Amro AUD/USD to continue to fall - 0.72 by end 2015
Goldman Sachs says iron ore rally is 'window to go short'
Australia - NAB business confidence: 3 (vs. prior 3)
Barclays - US labour market conditions & momentum rebounded in April
BNP - updates to oil price forecasts ... sustainable recovery in prices to take time
China Securities Journal: PBOC still has room to ease monetary policy
UK Telegraph: "Greece's "war cabinet" has resolved to defy the European creditor powers"
New Zealand April Electronic Card Transactions - Retail -0.7% m/m (+0.5% expected)
More on Goldman Sachs saying China growth likely troughed, rebound to come
WSJ-IMF works on contingency plans for Greek default. NYT-Greek govmt discussed not paying
Goldman Sachs says China growth has troughed, government can push short-term growth higher
ANZ says RBNZ will cut rates in both June and July
What sort of motorcycle does the Greek finance minister ride?
Monday morning opening Forex prices, early indications
Weekend:
PBOC says latest interest rate cut should not be viewed as QE
Greece urges greater political will from EU/IMF to reach agreement on a deal
UK's Cameron in a hurry to get those EU concessions before a referendum
Breaking news : China cuts benchmark lending rates by 0.25%
China says its trade levels will improve in H2 2015
What time is it? Using a Fibonacci clock to tell the time
Australia - Tuesday - budget coming up - this one might work
China CPI over the weekend - analysts call for more stimulus from PBOC (what a shock...)
Here's an invention they could use at the Fed
Germany's Schaeuble says Germany will do everything possible to keep Greece in Eurozone
UK Election 2015: How could the pollsters get it all so wrong?
China CPI April mm -0.2% vs 0.0% exp
ECB's Costa says European economic recovery is starting
A little survey to help us, help you...
A decent move higher for the USD to open the week in Asia today. EUR, GBP, CHF, yen, AUD, NZD ... all lost ground against the USD.
The NZD/USD was a very sharp faller, early headlines from ANZ forecasting Reserve Bank of New Zealand rate cuts in both June and July triggered aggressive selling, pushing the NZD/USD below 0.7400 (as of writing) and AUD/NZD to 1.0690.
News over the weekend that the People's Bank of China had cut benchmark lending rates would ordinarily have been supportive of the NZD and AUD (for example), but early price behaviour was lacklustre. AUD/USD has dropped down toward 0.7880, losing around 50 points from the early morning high.
Oil was more or less flat for the session, gold also.
Regional equity markets benefitted from Friday's US performance and the Chinese rate cut, the Shanghai Composite +1% and the Nikkei gained 1.3% (as of writing).
Still to come:
- Bank of England interest rate decision due in London morning - preview
- Eurogroup Greece meeting ... shaping up to be a fight
