Forex news for Asia trading Thursday 8 October 2015

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: