Forex news for Asia trading Thursday 2 July 2015

  • If there is a Greek referendum this weekend, here is when the early result be available
  • NFP coming up on Thursday morning in the US ... 5 things to watch
  • Goldman Sachs says the markets are suffering from a weird kind of "Stockholm Syndrome"
  • Australia press ... opinion piece says Australian recession this year
  • Australia, May Trade Balance deficit of AUD$2.75bn (expected -2.23bn)
  • Fitch forecasts China growth slowing to 6.8% in 2016 & 6.5% in 2016
  • MNI's Rodrigues: RBA not likely to change cash rate next week, remains open to possibility
  • New Zealand - ANZ Commodity Price Index for June: -3.1% m/m (prior was -4.9%)
  • NZ QV June house prices +9.3% y/y
  • China securities regulator relaxes rules on margin trading- Xinhua
  • BOJ Tankan inflation outlooks
  • Japan data- monetary base and international securities flow
  • China Securities Journal: China not likely to cut interest rates in H2
  • NFP coming up on Thursday in the US ... preview (and competition!)
  • ANZ says the RBNZ will cut the cash rate to 2.5%
  • Gold - Greece having only a minor impact, "difficult to see ... a more notable reaction"
  • Overnight comments from BOJ newbie Funo
  • CNBC reports Puerto Rico paid all its $1.9bn debt due today
  • NZD - ASB Bank cuts 2015-16 milk forecast to $NZ5/kg
  • Moody's downgrades Greece ... bonds to Caa3, from Caa2 ... on review for more
  • IMF's Lagarde says its preferable Greece moves toward reforms before debt relief provided
  • ASB says RBNZ will cut cash rate to 2.5% by October

EUR started off quietly in the Asian morning but gained ground from lows just ahead of 1.1030 to get back toward 1.1080. Liquidity is suffering as market participants pull back ahead of the important US data tonight, the long weekend coming in the US and the potential Greek referendum over the weekend. Buyers of EUR/USD were eyeing support today around 1.1025.

USD/JPY continued its overnight grind higher, adding points to around 123.45. There was little in the way of fresh news for it, but technicians report the strong close in NY on session highs and just shy of 123.20 was a positive.

Oil and gold were both barely changed.

AUD and NZD lost further ground after overnight slides again today. AUD/USD has managed to find support ahead of 0.7625, while NZD/USD continued a little lower to dip just under 0.67. AUD/NZD buyers contributed to the slight divergence between the two today.

Cable and the USD/CHF are both little changed from the late NY level.

Asian stockmarkets were generally higher, except in China... (as of writing) the Shanghai Composite is down just over half a percent.