Forex news for Asia trading Friday 8 May 2015

UK election - as it happened:

  • UK election - How to spot a trend
  • UK press: The Sun calls the election for the Tories, likens Cameron to Houdini
  • UK election - Cable gains as result becomes more and more clear
  • UK election chief exit pollster Curtice says a Conservative majority can't be ruled out
  • UK Election 2015: Pound pauses for thought as we wait on more results
  • Deutsche Bank - UK election exit poll should be taken with "huge pinch of salt"
  • UKIP show well in first UK election result
  • UK exit poll ... More: "What The U.K. Exit Poll Will Tell Us" - & cable update
  • More on that YouGov 'exit poll' & a cable update (new highs)
  • Forex technical analysis: Exit poll sends the GBPUSD surging to the upside
  • Here's more on that YouGov 'exit poll' & a cable update
  • UK election - Here is a second exit poll, showing a very different result
  • UK exit poll show Conservatives polled strongly - why the exit poll is important
  • Pound soars on exit poll news
  • Pound jumps as exit poll shows Conservatives close to majority
  • UK Election 2015: Ways to trade the pound in the aftermath
  • UK election - exit poll result

More:

  • More on China trade balance - analyst calls rate cut almost immediately
  • China trade balance for April, surplus of 210.2bn yuan
  • More on the RBA SOMP - Further AUD depreciation seems both likely and necessary"
  • RBA Statement on Monetary Policy: trims GDP forecasts
  • Citi on why bond markets have sold off
  • BOJ Minutes from the April 7 - 8 meeting
  • Goldman Sachs on the EUR/USD & USD/JPY - Risk-Reward Into NFP
  • ForexLive North America FX news wrap: Just the headlines!

A busy session in Asia today, kicking off with a shock exit poll results which showed big, big losses for the Labour Party, big gains for the SNP and what is going to be a victory for the Conservatives (though they may fall short of an outright majority) and what looks like better stability in UK politics than was forecast by the pollsters a mere 24 hours ago.

GBP reaction was swift - a 150+ point jump for cable and after some consolidation its gained toward 1.5500 and stabilised under there (as of writing).

The biggest losers were the UK pollsters calling for a tight contest. A very poor call. Questions will be asked are their methodology and competence.

I've posted all the coverage of the election results during the Asian timezone in chronology (read from the bottom up).

EUR/USD lost some ground as the session progressed, EUR/GBP sellers weighed on it along with EUR/USD selling leading into the NFP in a few hours.

USD/JPY gained 20 or so points through the day. EUR/JPY lost ground.

AUD suffered today, it fell on the dovish bias revealed in the Reserve Bank of Australia Statement on Monetary Policy and then again on the Chinese trade data miss to be barely above the session lows as I update.

Oil lost a few cents to be near its lows as I write. Gold wiggled it, just a little bit (hey, its nearly the weekend!) to be more or less unchanged on the session.

Have a great weekend all ... after the NFP!