Forex news for Asia trading Friday 9 October 2015

Australia, New Zealand

  • Recap of Australian housing finance data today ... 'dog's breakfast'
  • Australia housing finance data for August, Home loans +2.9% m/m (+4.7% expected)
  • Glencore news-to cut zinc production by a third
  • New Zealand Card spending for September: Retail +0.9% m/m (+0.4 expected)

China

  • PBOC sets yuan reference rate at 6.3493... small strengthening of the yuan again today
  • PBOC to conform to IMF's special data dissemination standards to improve transparency
  • Goldman Sachs cut year-end target for Chinese stocks, says market to stabilize
  • Shanghai Securities News: PBOC researcher says joining TPP could boost GDP 2% over 4 yrs

The Dij on Greece

  • Greece Euro-zone creditors agree debt relief should be via capping debt servicing costs
  • EU's Dijsselbloem: Greek program back on track
  • Japan economy minister Amari: There is weakness in some areas of Japan's economy
  • Credit Agricole CIB raises year-end call for USD/JPY to 125 from 123
  • Explosion reported at Priest Rapids Dam, Columbia River in Washington (state)
  • Overnight: OECD leading indicators indicate slowdowns in US, China, Japan, UK, Canada
  • U.S. Treasury Secretary Lew: Sees US eco growth continuing, political will needed
  • Fed's Williams (again): Decline in broader measures of unemployment a positive
  • Trade ideas thread for Friday 9 October 2015
  • FOMC Minutes show the hawks want the Fed to express a vote of confidence in US economy
  • Fed's Williams, more again: May have lower global growth, lower rates than in past
  • More from the Fed's Williams: Seeing positive signs from the labor market
  • Alcoa Q3 EPS misses estimates, in at 7c (vs. 13c)

A subdued Friday in Asia on FX markets following the release of the FOMC September Minutes in the US afternoon.

There was not a lot of action, with 20 or so point movements pretty much across the board.

Early headlines from the Fed's Williams, & from the EU's Dijsselbloem had little impact.

EUR/USD ends the session mid-range, as does USD/CHF and USD/JPY. Cable its ticking along at the top end of its (narrow) session range. AUD/USD is a similar story, at the top end of a small range for the session around 0.7275. NZD/USD not quite so strong on the session, but it too is near the recent high.

Oil is a few cents stronger while gold has gained since a very early drift under $1140.

In the second trading day for the week in China the USD/CNY was set a fraction lower again, while stocks there are up small too.

Regional equities:

  • Shanghai +0.70%
  • Nikkei +1.27%
  • HK +1.77%
  • ASX +1.05%

Still to come:

  • Central bankers speaking over the weekend ... BOE, BOC, and maybe ECB