The forex trading headlines for Asia trading today: Friday September 27, 2013
- Nikkei headline that Japan plans 5tln yen extra budget to back stimulus, post 1 and 2
- ECB’s Coeure: ECB has easing bias, possibility of further cuts in policy rates, and more from Coeure
- Bank of England: Says its financial policy committee is to make annual assessments of ‘help to buy’, and more
- UK Gfk consumer confidence for September: -10 (vs. expected -11)
- Japan core inflation fastest rise since November 2008
- Japan Buying Foreign Bonds for the second consecutive week
- RBNZ: Two biggest challenges are overvalued New Zealand dollar and housing market
- China January – August industrial profits +12.8% (+11.1% prior)
- Japan’s finance minister Aso: not thinking about an immediate cut in effective corporate tax rate and the scale of economic stimulus hasn’t been finalized yet
- FOMC member Esther George gave a speech and answered audience questions
EUR, GBP and CHF spent the Asian day in very tight, quiet ranges.
USD/JPY held steady near its overnight highs in the Tokyo morning, with very little movement. Towards late morning though it tumbled 20 points on the back of comments from Japan’s finance minister Taro Aso (see bullets above). As of writing, though, no follow through.
AUD/USD, too, had a quiet Asian morning, ticking a little higher to 0.9370 before falling away late in the Sydney morning to test overnight lows and finding buyers at 0.9335/40.
NZD/USD traded with the AUD, as high as 0.8290/95 and back to 0.8268/73.
