ForexLive Asia FX news: USD higher, yen loser
Forex news for Asia trading Monday 13 February 2017
- The China "Zombie Province": A showcase for the problems with China's bond mkt
- Moody's on China shadow banking - tighter liquidity, more regulation
- Goldman Sachs on 3 challenges to the US fiscal plans
- London copper hits 20-month high - supply problems with strikes
- Japan chief cabinet secretary Suga flags possible UN Security Council meeting
- Evacuations ordered below tallest dam in the US (near Oroville, Northern California)
- Japan fourth-quarter GDP grows - analyst responses
- USD/JPY & EUR/JPY orders
- EUR/USD orderboard
- AUD and NZD orderboards
- PBOC sets USD/CNY central rate at 6.8898 (vs. Friday at 6.8819)
- JPMorgan Tokyo: Politics main driver for USD/JPY, going to 100 by end of 2017
- USD, EUR, JPY, GBP, CHF, AUD, NZD weekly outlook from Morgan Stanley
- Australia data - December Credit Card Balances AUD 52.8bn (prior 52.5bn) & Credit Card Purchases AUD 27.7bn (prior 27.1bn)
- USD/JPY through 114. Q4 GDP missed.
- Japan - Q4 preliminary GDP: 0.2% q/q (vs. expected +0.3%)
- Heads up for Japan GDP data at 2350GMT
- China talk - CSRC may lift stock futures restrictions
- More to print out & stick to the fridge - a quick guide to PBOC policy tools
- To print out and stick to the fridge - China data due this week
- The breaking news that isn't: North Korea launches ballistic missile test
- Trade ideas thread - Monday 13 February 2017
- New Zealand data - Card Spending (January), Retail: +2.7% m/m (vs. expected 0.7%)
- OIL - UAE says compliance with output cut deal high, expected to improve further
- Australian press: "IMF urges RBA to slash rates to avoid low-growth trap"
- Economic data due from Asia today
- Forexlive Weekend FX News 11 - 12 February 2017
- Monday morning Forex prices, early indications
- UK's Bercow back in the spotlight after revealing he voted to Remain
- Switzerland today votes on relaxing its citizenship rules
- N.Korea launches another ballistic missile test
- Fake News. Fake Breaks. What do they have in common? How to deal with them?
- EU President Juncker says Brexit negotiations may divide Europe
- OIL - Russia will decided in April or May on oil output cut agreement extension
- EU President Juncker says Greek plan "on shaky ground"
- Trump wants a 'level playing field' on currencies. Here's how it will happen
- Fed's Fischer: There is significant uncertainty about US fiscal policy
- King Dollar reigned this week (but just barely)
Friday ... ICYMI:
The USD was higher in the very early morning in Asia. USD/JPY carried on with this strength as the morning progressed, trading above 114.10 before running out of steam and back below 114.00 Yen crosses were dragged higher. The focus on politics continued with no comments out of the US about currency manipulation, Abe and Trump apparently playing an uneventful weekend round of golf. USD/JPY was helped along by rising UST yields.
Japanese GDP data showed a headline miss, but nevertheless a 4th consecutive positive quarter for GDP growth was welcomed, business investment and exports both up.
EUR lost a little ground against the stronger USD, as did the CHF. But, like GBP/USD little change on the session overall from late Friday US pricing.
AUD and NZD resisted the USD strength early but both lost what little early impetus they had to be little changed
The People's Bank of China was active in money markets today, injecting a total of 100bn yuan via open market operations, the first OMOS for 6 days. Despite the injection, with maturing contracts the net change was 90bn yuan drain. The CNY hit around a one-month low against the USD.
Industrial metals prices continued higher again today (see bullets above). Iron ore up more than 5%, coke coal up more than 5%
Gold, though, dribbled a little lower, as did oil before recovering the few cents it had lost to be little changed on the session.
- Nikkei +0.50%
- Shanghai +0.63%
- HK +0.52%
- ASX +0.66%
Still to come:
- OPEC releases its monthly oil market report