Forex news for Asia trading Friday 01 July 2016
- Saudi energy minister says oil market still has more supply than demand
- AUD and NZD make a run for it into the weekend
- "A high chance that the BOJ will ease further at its July meeting"
- This is what happens if BOJ head Kuroda is feeling a bit under the weather
- Comments from Japan - BOJ Tankan shows cautious firms, but capex firmer
- Nikkei / Markit Japan manufacturing PMI for June (final): 48.1 (prelim was 47.8)
- China - Caixin Manufacturing PMI: 48.6 (expected 49.2, prior 49.2)
- Gold gaining
- PBOC sets USD/CNY mid-point today at 6.6496 (vs. yesterday at 6.6312)
- China's fin min comments on local government debt
- China official manufacturing PMI for June: 50.0 (expected 50.0)
- China Official June PMIs due at the top of the hour
- Happy (no recession) birthday Australia today! 25 years.
- Australia election this weekend - here's the risk
- "You've called the BOJ! Your call is important to us ...."
- BOJ Q2 Tankan: Large Manufacturing Index: 6 (4 expected)
- Japan May CPI: -0.4 % y/y (expected -0.5%)
- Japan May data: Household spending, Jobless rate, Job-to-applicant ratio
- Australia data: Manufacturing PMI for June : 51.8
- Where's the craic? Fidelity plans to move 100 jobs from Britain to Dublin
- Japan's GPIF records big loss
- Trade ideas thread - Friday 1 July 2016
- How to trade a medium-term AUD/USD correction - Credit Agricole
- Daily Mail backs Theresa May as Conservative leader
- USD/JPY jumps to another post-Brexit high
- The final tally on FX performance for June
A skittish market today, with a decent size fall for USD/JPY and rallies for gold, silver, AUD and NZD.
USD/JPY popped above 103.30 in early Asia but didn't sustain there. As the Tokyo morning got underway USD/JPY steadily dripped lower, back under 103 again and down near 102.80 as I update. We got plenty of data from Japan today, a disappointing CPI (as usual), falling household spending (as usual) and a lacklustre Q2 Tankan report from the Bank of Japan.
Speaking of data, we got official PMIs from China today for June (manufacturing and non-manufacturing) as well as the private manufacturing PMI. Services PMI held up well, but both of the manufacturing PMIs were disappointing again.
Back to the currencies; AUD/USD and NZD/USD both popped to new highs compared with their overnight heights, but both have since dipped back (just a little) from resistance. There is an Aussie national election this weekend (here is the risk).
Gold and silver gained in price.
EUR/USD and USD/CHF are both little changed on the session, while Cable has edged small higher but with a significantly smaller range than it had last Friday at this time :-D .
Regional equities:
- Nikkei +0.77%
- Shanghai +0.19%
- HK +1.75%
- ASX +0.49%
Still to come: Australian election this weekend - here's the risk