Forex trading headlines for Asia Thursday 26 June 2014

  • Goldman Sachs expects further easing from the BOJ in October (to spur inflation) – GS maintain their forecast for $/JPY at 110 in 12 months
  • Japanese Buying of Foreign Bonds, Y 1486.5B (for the week ended June 20)
  • Japan Buying Foreign Stocks, Y 4.7B
  • Foreign Buying Japan Bonds, Y -475.2B (negative number indicates net selling)
  • Foreign Buying Japan Stocks, Y 295.6B
  • Premier Li says potential to transfer some industry from east to central China – ensure employment and ease labor costs on east coast
  • Premier Li says China does not lack liquidity, needs to guide funds to real economy
  • Citi has raised it Australia 2014 GDP forecast to 3.4% (up 0.5% from previous forecast)
  • Australia Job Vacancies +2.5% q/q for the three months to May

A quiet session for economic data and news was reflected in subdued currency ranges, EUR, GBP and CHF all in very tight bands, while USD/JPY drifted down around 15 points. EUR/JPY got dragged down with the USD/JPY. USD/CAD was sideways.

Not so for the Kiwi $, though – it chewed through the offers ahead of 0.8750 and then triggered stops above before halting for the session just at 0.8770. AUD/USD ticked a little higher with the NZD, but above 0.9410 were sellers again, keeping a lid on it.

Gold drifted a little lower on the session, oil was marginally down.

(Note: No links today due to some technical issues with the site. Make sure you are following us on Twitter, @ForexLive, when we had problems with the site we continued updating via Twitter with the good oil on where the Kiwi $ stops were and the next band of sellers!)