Forex news for Asia trading Wednesday 17 June 2015
- The trading decision sequence ... improving decision making in an uncertain environment
- Not FX, but you might like .... "Welcome to football's quarterback revolution"
- Westpac on the RBA: The case for even lower rates is strengthening
- Australia data - Westpac Leading Index for May: -0.1% (prior +0.1%)
- Japan exporters school report reads like mine ... "Could do better"
- 97% of the growth in Chinese manufacturers' profits now comes from day trading
- Japan trade balance for May: Y -216.0bn (expected Y -258.8bn)
- $1.2 billion lost in alleged FX scam?
- More from PIMCO: Irrational exuberance in Australian household debt
- New Zealand data - BoP Current Account Balance for Q1: 662 mln (expected 282mln)
- API: crude oil inventories -2.9mln bbls
Oil pretty much kicked off the day, with the API data release boosting it 25 or so cents before that was all given back ... the rest of the session was spent shuffling sideways.
EUR/USD had a quiet time until mid-morning Tokyo when it started to edge higher, putting on near 20 points from earlier lows before settling just below 1.1260 (as of writing). No fresh news ... and lets face it that's a garbage range. EUR crosses were generally higher with it. (Update: As I post EUR/USD has popped to 1.1265 and just above)
The CHF, too, gained somewhat, with USD/CHF trickling 15-odd points lower. Again, no fresh news.
USD/JPY had some small swings to gain a few points overall on the day.
AUD/USD was a reasonable mover. it spent the first few hours mainly above 0.7750, but when the early lows broke it saw persistent selling interest (macro fund names mentioned in the market) down until below 0.7720 where it has held (as of writing).
NZD/USD followed a similar pattern, down towards 0.6960 before stabilizing.
Cable was more or less unchanged in a very narrow range.
Gold was a few dollars weaker on the day.
Still to come ... FOMC!
