Forex news for Asia trading Friday 21 April 2017
- Goldman Sachs note yuan outflows quicker in March (also BBG on China Share Drop)
- Japan finance minister Aso: G20 statement on currencies same as Baden Baden communique
- More Australian bank out of cycle interest rate hikes
- China social security fund head Lou Jiwei: H'hold leverage ratio has risen to near 50%
- ICYMI: Bank of Japan Governor Kuroda spoke overnight
- PBOC sets USD/CNY mid-point today at 6.8823 (vs. yesterday at 6.8792)
- New Zealand - ANZ Consumer Confidence (April): -2.8% m/m (prior -1.7%)
- EUR/USD orderboard
- USD/JPY & EUR/JPY orders
- AUD and NZD orderboards
- Japan - Nikkei (preliminary) Manufacturing PMI (April): 52.8 (prior 52.4)
- Paul Tudor Jones Says U.S. Stocks Should 'Terrify' Janet Yellen
- BOJ Senior Loan Officer Survey (April) - Loan demand falls amongst firms
- Hedge funds lost on UK May's snap election call, but humans beat the machines
- US President Trump to sign two financial executive orders on Friday
- Reuters poll on Japan labour market, wages, reforms productivity
- Federal Reserve intensifies B/S discussions with market players
- Goldman Sachs scenario for the parity bus (EUR/USD parity that is)
- German finance ministry see good data, but warn of clouded outlook
- French President Hollande says he is convinced Paris attack was terrorist-related
- French election: Le Pen and Fillon have cancelled Friday campaign events
- Trade ideas thread - Friday 21 April 2017
- OMB's Mulvaney remarks on debt ceiling - forces US to look at borrowing levels
- M&A will create a small flow in GBP/CAD
- ICYMI ForexLive Americas FX news wrap: Markets get high on tax talk
- A light day for the economic data calendar in Asia
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:
- What time will we get French election results?
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
