Forex news for Asia trading Friday 28 November 2014
- New Zealand October Building Consents / Permits: +8.8% m/m (prior -12.2%)
- Rio Tinto – delays decision on Australian iron ore mine
- Sankei reports that Japan aims for January 14th to approve FY15 budget
- Shanghai Securities News: Chinese government must intervene to prevent hard landing
- Japan national CPI for October: 2.9% y/y (vs. 3.0% expected)
- Japan data – household spending, jobless rate etc.
- Japan Buying Foreign Bonds, Y -45.1B (plus, the rest of this data)
- Japan – Retail sales for October -1.4% m/m (vs. expected -0.5%)
- Japan Industrial Production October (preliminary): +0.2% m/m (expected -0.6%)
- New Zealand ANZ Business confidence for November 31.5 ( prior was 26.5)
- UK data – GfK Consumer Confidence for November: -2 (vs. expected-1)
- Australia – private sector credit data due at 0030GMT
- Australia – Private sector credit: +0.6% m/m (expected +0.5%)
- Japan economy minister Amari: Cheap oil good for economy, offsets weak yen impact
- Kuroda’s easing ‘Incomprehensible’ to ex-BOJ chief economist
- HSBC and ANZ on the Australian economy, dollar – ‘AUD to 0.8200′
- Australia -APRA head: Macroprudential tools not “time critical” … more important to get the decision right
- New Zealand M3 money supply for October is +5.5% y/y (prior +5.3%)
- Japan LDP secretary-general: Not desirable for FX to move rapidly
Do not adjust your monitors … despite all the moves EUR/USD and GBP/USD remained mired in small ranges.
Elsewhere, though …
Oil got hit lower in late Canada trade, which set the tone for the Asian day. Aussie energy stocks tanked, dragging the broader index lower. Meanwhile the Australian and New Zealand dollars continued their slide, the AUD/USD below 0.8500 (as of writing).
Yen, meanwhile, had a poor day also, with the CPI falling again (it was data dump day in Tokyo – see bullets, above). A representative from the Japanese administration made a feeble attempt to talk some strength into the currency. It didn’t work last time (around 108) and it didn’t work today, USD/JPY edging up from session highs as I write.
