Forex news for Asia trading Monday 8 June 2015
Monday
Japan GDP:
- Japan officials comment in wake of huge GDP beat - Suga, Aso
- Japan's MONSTER GDP beat - and a big result for capex also
- Japan data - current account balance and bank lending
- Japan data - Q1 GDP final: +3.9% annualized (expected +2.8%)
China trade balance:
- SocGen on China trade balance - Import decline suggests PBOC to ease this month
- More on China data for May: Trade balance surplus $54.49bln
- Partial China trade balance data hitting the wires
- China stimulus? Deposit for some house purchases lowered
More:
- Westpac NZD forecast lowered from 0.72 to 0.68 by end 2015
- UK CBI forecasts economy to grow 2.4% in 2015 and 2.5% in 2016
- UK PM Cameron to anti-EU Tory MPs - Its my way or the highway
- Trade ideas thread to start the week off! Monday 8 June 2015
Weekend:
- Juncker promises Greek deadline ... at some point
- G7 Summit - Beer, sausages and Russia. With a side serving of Greece
- UK regulators will unveil plans this week to tighten up markets
- UK: 50 government MPs will lead campaign to exit EU unless UK gets better terms
- Video: What to do with the US dollar after non-farm payrolls
- Does technical analysis work? "collection of ... subtle anomalies ... predict pretty well"
- Goldman Sachs' price forecasts and rationale on oil after the OPEC meeting
- Greek PM to hold talks with Merkel & Hollande on Wednesday
- Juncker refuses to take phone call from Tsipras 3
- Life is too short
- Credit Suisse raises USD/JPY forecasts
- Small ranges in Asia to start the week.
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
