Forex news for Asia trading Monday 29 June 2015
Weekend
- Here is what's going to happen to markets on Monday
- Greek stock exchange and banks will not open Monday - RTRS
- Capital controls the big question ahead of Monday
- ECB mulls extending ELA to Greece while questions remain whether Greece will open Monday
- Yesterday's Eurogroup statement for those who missed it
- Austria's Schelling says Grexit "almost inevitable"
- Caution advised -FX broker platforms may impose restrictions into the Asian open
- ECB to end ELA lifeline for Greek banks
- How to trade the Greek and Chinese bombshells
- PBOC cuts Chinese interest rates again
- Tsipras calls a referendum on EU bailout proposals
Monday
- Just waking up? Here's where we are at with Greece & whats coming up
- For those with an interest in gaps ... AUD, NZD out in front of the field
- Sources say BOJ ready to inject liquidity in case of Greece impact on Japan markets
- China stock huge rally after weekend rate cuts ... errr.... no .... wait
- Puerto Rico's Governor says debts are 'Not Payable'
- Japan weak may industrial output ... risk of Q2 GDP contraction?
- PBOC's Ma: Weekend rate cuts needed to maintain stable real rates
- FT: Federal Reserve's Dudley says September rate hike 'very much in play'
- Comments from Bank of Japan (BOJ) Governor Kuroda
- Greece sets daily cash withdrawal limit at 60 euros
- Japan May Industrial Production: -2.2% m/m( expected -0.8% m/m)
- Japan May Retail Sales: +3% y/y (+2.3% expected)
- Forex technical analysis: USDJPY falls on safe haven flow
- Greek government issues capital controls decree
- Westpac: "One month EUR/USD target of 1.06 is suddenly looking quite achievable"
- Forex technical analysis: EURUSD gaps. What is the trading strategy?
- Greece ... "Defaulting to the IMF tomorrow looks like a certainty"
- Macedonia tells its banks to pull the plug on Greece
- Tsipras comes out fighting after confirming capital controls
- Globex open - US stock index futures down hard, EUR falls out of bed again
- The Greek News And EUR/USD Reaction - Nomura
- FX platforms coming on line ... EUR slipping
- EU's Regling: Can't predict what Greece will look like next week
- Kathimerini reports that the Athens stock exchange is seen closing for at least a week
- Early Monday price update
- Greek recommended daily cash withdrawal limit of 60 eu as of Tuesday, ATMs closed Monday
- Monday morning Forex prices, early indications
All about that Greece ....
- Opening gaps all over the place this morning in Asia, EUR and yen crosses the biggest losers. EUR was opened lower in response the breakdown of Greek negotiations and then the Greek PM calling a snap referendum over the weekend. Yen caught a strong bid on a 'safe haven' trade. AUD, NZD, GBP, CHF all gapped lower as well, to a greater or lesser extent.
- It was stop losses & margin calls to the fore in the early hours, with EUR/USD stabilising around 1.1000 (quite wide swings around it) before another plunge down toward 1.0950 before support was finally found and it managed a 65-odd point bounce. EUR/JPY had an even bigger gap lower, with a plunge in USD/JPY combining with the EUR/USD to see us below 134.00 (briefly) before a bounce and sideways around about 135.50 for the balance of the session.
- AUD and NZD (against the USD) recovered all of their gaps with 100 or so point bounces. GBP, CHF, EUR, yen ... none of these have managed to cover their gap (as of writing).
- Gold gained on the session, oil fell
- A summary of ... Here's where we are at with Greece & whats coming up
No, it wasn't all about Greece ...
- Looks like Puerto Rica saw the news on Greece and decided to try to slip their own bad debt news into the slipstream hoping no-one would notice. Too bad. Bad news bears were on hyper alert and soon were gleefully retweeting and FB'ing and whatever-else the news. This could have important ramifications for US markets, at least for municipal bond markets in the States.
- Chinese stocks rallied near their open in response to the twin-pronged cuts from the PBOC (it seems the authorities are rather concerned about the plunging stock market ... they cut interest rates and reserve requirements for the first time since the global financial crisis in late 2008) over the weekend ... but soon gave back all their gains, and more. Here's a nice summary via FT ... "The Shanghai Composite has been as much as 2.5 per cent higher and 2.2 per cent lower within the first 30 minutes of trade.". Nuts.
