ForexLive Asia FX news: AUD and yen both up tiny

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Friday 21 April 2017

USD/JPY ticked back toward overnight highs in early Tokyo but soon lost some ground, from highs just above 109.40 down to circa 109.20 as I update. Data from Japan today was the flash manufacturing PMI, which gained again on the month (subject to 'final' confirmation, of course).

AUD/USD dipped a few more points in the morning before ticking to new session highs after China got active. Gains for commodity prices reflected on Chinese exchanges did it no harm. Lows ahead of 0.7515 and a high just above 0.7530 though, so not too much in it today. NZD/USD lost more ground early, from around 0.7008 to just under 0.6985. As I update its edge back close to 0.7000. ANZ Consumer Confidence data for April didn't have much impact when it was released.  

Elsewhere, ahead of the French election this weekend EUR/USD is little changed here in Asia. Cable, too, little change. Ditto for USD/CHF (added - as I post its on its session high). All three had very small ranges. Oil and gold are little changed on the session here also.

Regional equities:

  • Nikkei +0.73%  
  • Shanghai -0.07%
  • HK +0.14%
  • ASX +0.67%

Still to come:

A heads up for Monday morning and the French election (first round) "early indications":

  • Voting finishes at 7 pm Sunday in Paris, exit polls are released at 8 pm (that's 1900 and 2000GMT)

Note this carefully (you probably already know, but if not):

  • Exit polls aren't results. They're usually done by TV networks by standing outside voting stations and asking people how they voted. In the US election and Brexit, the exit polls were wrong.

Adam posted much more on the times (and more) to watch, here:

But remember ... 20000GMT Sunday for the first indications

I'll be in for these exit poll results as they come out. I haven't spoken to Adam on this, but I imagine wild horses would not be able to keep him away.

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More:

  • Caixin report the China Banking Regulatory Commission (CBRC) is checking risks of cross-guaranteed loans,with a focus on the steel, coal and aluminum industries.
  • A piece in the Wall Street Journal (may be gated), there are signs that the sugar rush of Donald Trump's victory and global-growth hopes has faded, raising doubts among some investors about whether stocks can stay high: Markets Send a Worrying Message About the Economy
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