Forex news for Asia trading Monday 20 September 2015

Monday

  • UBS chairman calling December Fed hike-"underlying economic data in US warrants a hike"
  • You'll never guess which way Goldman Sachs say EUR/USD is going (if u said down, correct!)
  • China CASS forecasts 2015 GDP growth at 6.9%
  • MNI China Business sentiment for September index down 8.4%
  • China stock market opening indications-Shanghai Composite to open down 0.8%
  • USD/CNY reference rate for today set by the PBOC at 6.3676
  • British finance minister Osborne says China still " a massive source of global growth"
  • CBA says Australian recession risk is low, "the pessimists have been wrong"
  • Westpac's Evans on the Federal Reserve-still expects a 2015 hike (in December)
  • Technical analysis charts for EUR/USD from SocGen
  • NZ data; August migration and visitors both higher
  • UK data - Rightmove House Prices for September: +0.9% m/m (prior was -0.8)
  • China Beige Book (private economic survey) says economy not as weak as it looks
  • BOJ considers more easing policy alternatives
  • German finance ministry-still aims for balanced budget this year and next
  • New Zealand Q2 Westpac consumer confidence: 106 (prior was 113.0)
  • Weekend-Moody's downgraded France, changed outlook
  • Trade ideas thread for Monday 21 September 2015
  • CFTC forex Commitments of Taders report: Yen shorts bounce back
  • EU's Dijsselbloem says ready to work closely with Greece
  • Greece-Tsipras wins election, says he feels vindicated
  • Fed's Williams weekend media comments-sees wages growth as boosting inflation
  • BoE Governor Carney to warn on bond market liquidity this week

Weekend

  • Greek elections: New Democracy leader concedes defeat as Syriza takes 34.9% in early exit polls
  • Low turnout reported in Greek election
  • China's Li calls for more efficiency in SOEs to support economy
  • Australia gets a new Treasurer-Scott Morrison
  • Weekend speech from Fed's Williams: FOMC vote was a close call, still expects 2015 hike
  • Weekend speech from Fed's Bullard: Don't blame me, I wanted to hike

A relatively subdued beginning to the week across currencies. Japan was on holiday today, which contributed to the quiet start, and they'll be out again on Tuesday and Wednesday. The big weekend events included speeches from two Federal Reserve regional presidents, and election in Greece, none of which had too much impact.

USD/JPY lost a few points, down from around 120.10 to begin the week to be under 119.80 as I update. EUR/USD and cable gained a few points through the session. USD/CHF is barely changed.

AUD and NZD were both a little more active, dropping 30 or so points against the USD. Regional stock markets were softer on the session on the whole, which contributed to a sentiment weighing against 'risk'.

Curiosly, stock in China have so far managed a positive session, The Shanghai Composite opened down but has edged back to a gain. This has helped the AUD stabilize after earlier losses.

As I update, local stocks:

  • ASX down 2.5%
  • HK down 1.2%
  • Shanghai Comp +.6%

Still to come: