Forex news for Asia trading Tuesday 6 October 2015
- RBA announce rates stay on hold
- Goldman Sachs' Hatzius, expects Dec. Fed rate hike, but slowdown justifies 2016 date
- Morgan Stanley says their risk-on call remains intact, target 1.01 on USD/CHF
- Goldman Sachs, Morgan Stanley, & Citi all warning of lower commodity prices
- BoA on further yuan devaluation ..."My gut tells me it could be as much as 10%"
- Oil prices: Headwinds looming?
- Fonterra says TPP will be a benefit to NZ dairy exporters
- ECB's Coeure: 'Genuine' Union would improve euro's international role
- Australian trade balance for August: -3.095bn (vs. expected -2.4bn)
- Preview of the RBA today, on hold expected
- Australia data: ANZ Roy Morgan weekly Consumer Sentiment 110.0 (prior 110.6)
- Westpac on the NZD-3 month & 1 year view
- USD/CAD drops for fourth straight day, what's next
- New Zealand-NZIER Q3 Business Survey -14 (+5 prior)
- Trade ideas thread for Tuesday 6 October 2015
A day spent awaiting the Reserve Bank of Australia announcement, but some movements leading up to it. The Australian Trade Balance deficit increase saw the AUD marked 25 or so points lower upon release, before it stabiised and retraced.
Meanwhile there were small moves from EUR and GBP, and CHF and yen had a wiggle also. Cable ground out a small gain and managed to sustain it, while the other 3 are more or less unchanged as I update.
The RBA left rates unchanged for the 5th month in a row, as expected. AUD was marked higher, popping easily above 0.7100 and a I write stabilsiing above 0.7110 (admittedly its only a few minutes after the announcement). NZD was dragged higher too, to a fresh session high above 0.6510.
Oil and gold are barely changed on the session.
Regional equities:
- Nikkei +0.77%
- HK +0.15%
- ASX +0.61%
- Shanghai ... China is closed for the Golden Week holidays and will reopen on October 8
Still to come:
- New Zealand dollar traders, preview of the GlobalDairyTrade auction
