Forex news for Asia trading Monday 25 September, 2017
- Japanese PM Abe to hold a news conference at 0900 GMT
- Australia press: Government set to pull the trigger on limiting gas exports within days
- Japan headline crossing wires again - PM Abe wants a 2tln yen stimulus package
- PBOC sets USD/CNY central rate at 6.5495 (vs. Friday at 6.5861)
- Fitch says some China LGFV defaults likely (timing uncertain)
- Option expiries Monday 25 September 2017
- (Not FX) - Here are President Trump's new travel bans
- Japan data - Nikkei Manufacturing PMI for September (preliminary): 52.6 (prior 52.2)
- New Zealand election outcome uncertainty - the two key dates to watch
- NZD traders - heads up for the RBNZ this week (preview)
- Australia press: Australia's next boom has barely started
- North Korea weekend update (two bogans get drunk, bump chests outside pub)
- Barclays 'trade of the week' - they like USD/CAD
- Japan press: PM Abe wants a 2tln yen economic package
- German election: "German vote could doom Merkel-Macron deal on Europe"
- Economic data due from Asia today
- German and NZ election result updates (EUR and NZD updates too)
- Trade ideas thread - Monday 25 September 2017
- More on the NZ election: "markets never like uncertainty"
- NAFTA comments on the wires - Canada's chief negotiation says god progress
- EUR, NZD both a touch lower after weekend elections
- New Zealand election update
- German election - Opposition leader Schultz harder line on Brexit
- New Zealand - Fonterra maintains its 2017/18 milk price forecast
- Monday morning 25 September 2017, Forex prices - early indications
Weekend:
- The GBPUSD sits in limbo area from post-Brexit swing levels
- Russia's Lavrov on why the US won't attack North Korea
- London mayor says 7 terrorist plots foiled since March
- Republican tax proposal leaks and it's just what you would expect
- The best FX trade last week had a commodity-currency flair
- After 8 weeks below the 100 and 200 week MAs, the USDJPY closes back above it
- Latest MS EUR/USD order (limit buy, target & stop)
- Is it time for the EURUSD to get out of the up and down range? I think so.
Early movement here in Asia today with German and New Zealand weekend elections in the driving seat. The results were not too far from expectations.
Merkel's party in Germany did not perform as well as was expected, but she is expected to manage to form government in coalition.
For NZ, the result was more or less as expected. Incumbent Bill English achieved the highest proportion of votes, well ahead of the main opposition, but not enough to form majority government - talks to form a coalition will progress over the coming days and weeks. Opposition leader Ardern has not conceded defeat and is in the running to form a coalition government also. More in the election posts from earlier today:
- New Zealand election outcome uncertainty - the two key dates to watch
- German election: "German vote could doom Merkel-Macron deal on Europe"
- German and NZ election result updates (EUR and NZD updates too)
- Monday morning 25 September 2017, Forex prices - early indications
- New Zealand - Fonterra maintains its 2017/18 milk price forecast
- German election - Opposition leader Schultz harder line on Brexit
- New Zealand election update
- EUR, NZD both a touch lower after weekend elections
- More on the NZ election: "markets never like uncertainty"
Early currency moves for (most notably but not exculsively) for the EUR and NZD. Both slid in very early movement. NZD/USD managed to pretty much retrace and fill its 'gap' but has since fallen back to (and a little under) early lows. Something for everyone in these movements! EUR/USD has spent much of the session today edging back higher to try to fill its 'gap' also.
AUD/USD, too, has traded up from early lows, back to circa 0.7970 and its around 0.7960 (just under) as I update.
Cable, too - soft early and then edging up to retrace. Its near its (small) range high for the session as I post.
Gold is weaker on the day to open the week.
Stay tuned today for Japanese Prime Minister Abe holding a news conference at 0900GMT - he is expected to announce an early election. USD/JPY has spent Monday higher than it was Friday in the US. it got as high as around 112.50 where exporter sales have been the chatter as a factor limiting it to around there for now. Its back under 112.30 as I post.
Over the weekend there was plenty of posturing around North Korean developments: North Korea weekend update (two bogans get drunk, bump chests outside pub)
