Forex news for Asia trading Tuesday 21 September 2015

China

  • Nomura on the yuan: stable while Xi is in US, risk for weakness after
  • Conference Board Leading Economic Index for China +1% in August(prior +0.9%)
  • BoA / Merril Lynch updated EUR/USD forecasts, "dovish Fed caught markets off-guard"
  • (Groundhog day headline) China CASS forecasts 6.9% GDP growth for 2015
  • People's Bank of China (PBOC) sets yuan reference rate at 6.3721
  • Reports China's CBRC met foreign banks over bad loans

Australia/New Zealand

  • Australian House Price Index for Q2: +4.7% q/q (expected +2.3%)
  • Australia ANZ Consumer Confidence 114.5, up 8.7% w/w (prior 105.3)
  • Australian press: 'Australia is toast' foreign investors tell NAB
  • Economists say "super energy" of the Sydney housing market has passed
  • Plenty of criticisms of Yellen, is it fair and justified?
  • Technical analysis set up for EUR/USD (and others)
  • Scott Walker announces he abandons Republican Presidential race
  • Gundlach: Financial conditions have already tightened
  • Trade ideas thread for Tuesday 22 September 2015

It was a Japanese holiday again today (like it was on Monday, and will be again tomorrow). Japanese holidays don't necessarily mean a quiet sort of session in Asia FX ... but it did today.

We did see some minor moves, but nothing too dramatic.

USD/JPY dribbled 20 or so point lower from 120.60-odd and is just above 120.40 as I update. Japanese exporters are said to be on the USD/JPY offer despite the holiday. Japanese exporters are a natural seller of USD/JPY but their presence was particularly remarked upon today in an otherwise holiday-thinned session.

EUR/USD gained a few pips on overnight lows. Cable managed to eke out a few point gain also but has since given some back to be mid-range as I update. Really very little in either of these though.

AUD and NZD both ticked a little higher early but are also mid-range or so as I write. Australian weekly consumer confidence showed a huge bounce last week. You'll recall it was the week we got a new PM, consumers liking it ... so far at least.

Oil a little weak on the session (by a few cents), gold is more or less flat.

Equities:

  • Shanghai +0.65%
  • ASX +0.54%
  • HK + 0.72%

Still to come:

  • NZD traders - heads up for a secret RBNZ speech coming up