Forex news for Asia trading Thursday 8 October 2015
- RBA's Simon: Concerns about low rates are probably overdone
- Goldman sees oil off another $10 ... oil industry 'hunkering down' for long period of low prices
- FX market 'manipulation' & how changes made are impacting on the market
- Morgan Stanley: Increasing chatter about the need for additional US stimulus
- People's Bank of China (PBOC) sets yuan reference rate at 6.3505
- Here is the RBA paper on modeling the Australian dollar
- Total steel inventory in China ... enough for the next five years?
- Japan data: BoP Current Account Balance for August: ¥ 1653.1B (vs. expected ¥ 1226.0B)
- Japan data-August Machine Orders: -5.7% m/m (vs. expected +2.3%)
- Japan machine orders data-more (updated)
- EUR/USD technical analysis views from Nomura, SocGen & Barclays
- PBOC deputy governor says yuan close to equilibrium
- UK data-RICS House Price Balance for September: 44% (expected 55%)
- Greek PM Tsipras: First bailout review must be finished by end November
- ANZ Truckometer for September: +1.7% m/m (prior was -0.5%)
- SG technical analysis on AUD/USD looking for a corrective pullback
- Trade ideas thread for Thursday 8 October 2015
- Deutsche Bank announces Q3 net loss, to recommend dividend cut, possible elimination
- China economy: Yi Gang, deputy governor of the PBOC "I would say, don't worry"
- Greek economy minister Stathakis says GDP contraction could be around 1.5%
Big movement on the session in silver (down 3%) and in currencies the AUD and NZD the biggest losers.
EUR found a bit of buying, the move wasn;lt large but it gained 20-odd points (EUR/USD). Late Europe news out of Deutsche Bank of a Q3 loss and the potential of a dividend cut (perhaps to as low as zero) weighed on DB shares and, initially, a little on EUR.
USD/CHF meanwhile quietly (very quietly) drifted sideways to off a few ticks. Ahead of the BOe today GBP lose a little ground, but not a lot in it and in the context of a good move higher in the overnight.
We got more poor data from Japan today, machine orders (a proxy for capex) showing a bad, bad miss on expectations. This is a volatile data set, so thats a hedge, but on the face of it its another straw on the back of the 'more BOJ easing' camel (OK, I just made that up). USD/JPY is barely changed on the session after a lackluster 25 odd point range.
China was back from holiday today. the stock markets opened higher and have since tracked slightly higher. USD/CNY was fixed lower, by the most since September 2 for an aggressive yuan boost from the PBOC.
Silver, AUD and NZD have all been big losers, with no obvious fresh catalysts. Gold is a little lower but the move has not been large. Oil is barely changed but did try a ;little higher and is back on session lows.
Regional equities:
- Nikkei -0.56%
- HK -0.66%
- ASX +0.55%
- Shanghai is back ... +3.80%
Still to come:
