Forex news for Asia trading Monday 8 June 2015


Japan GDP:

China trade balance:



Currencies were generally a little weaker in the early going pre-Tokyo today but it was a mixed bag after that.

The yen strengthened a few points (off around 30 or so points from session highs) in the wake of much better GDP data for Japan in Q1. To the extent that evidence of a recovering Japanese economy lessens the likelihood of further BOJ stimulus efforts one can see the reasoning behind the move. its not as if the move in the yen is definitive, though, it was hardly a convincing range.

EUR, GBP, CHF are all little changed since the Friday US close in the wake of the very strong employment report. You'd think any retracement of the strong dollar might well run into fresh sellers today. Greece news is a wildcard.

It was a market holiday in Australia today, the AUD traded mostly quietly in a thinned liquidity fashion. There was a spike to above 0.7640 on the Chinese trade surplus data, but is was swiftly rejected from there to back toward 0.7610 where it has subsequently staibized.

NZD/USD is little changed net on the day around 0.7050 and thereabouts.

Gold moved steadily higher for a gain of around 7 dollars before giving back a little under half of the move. Oil drifted lsightly lower throughout.

Central banker activity coming up this week - Fed, ECB, BoE, RBA, RBNZ