Forex news for Asia trading Friday 6 November 2015

  • BOJ's Kuroda: Japan's economic fundamentals remain solid
  • Bloomberg survey of 28 economists, 2 see an RBA cut in December
  • Japan PM Abe: Excessive yen strength has been corrected
  • Infograph: Preview for the October US employment report
  • Have you got your NFP entry in? Here is Goldman Sachs' tip for the number
  • China October retail auto sales +11.1% y/y
  • RBA's Statement on Monetary Policy - analyst response
  • Central banker speeches coming up on Friday and over the weekend
  • China industry minister: Industrial sector facing downward pressure
  • China PM Li repeats China needs at least 6.5% growth over next 5 years
  • Fed's Bullard: Fed faces challenge in explaining likely US jobs growth slowdown
  • People’s Bank of China (PBOC) sets yuan reference rate at 6.3459
  • RBA's Edey: Housing market risks more prudently managed than a year ago
  • RBA statement: Australian dollar is adjusting to lower commodity prices
  • BTMU sees 5 big figures range for EUR/USD trading in the week ahead
  • Advice for the Fed from Gundlach, shouldn't hike in December
  • NFP preview from Westpac
  • SocGen on Brexit uncertainty ... delaying BoE rate increases
  • Australian construction PMI for October: 52.1 (prior 51.9)
  • Blackrock's Rieder says the Fed should hike rates 100bps over 6-12 months then stop
  • Trade ideas thread for Friday 6 November 2015
  • Japan press - PM Abe pushing business for more wage hikes, capex
  • Australian treasury set to downgrade economic growth forecast

The pre-NFP Asian day certainly lived up to expectations today with tomb-like activity pretty across the FX board/bored or however you choose to spell it.

AUD saw some activity, with the quarterly monetary policy statement from the RBA released, along with a speech from an assistant governor (Edey). AUD/USD had a small short squeeze ahead of the Statement release but soon found its way back into the earlier range and has not much ventured out of a 10 point or so range since. NZD hasn't done much better, having a 20 or so point range.

USD/JPY is a fraction lower on the session, USD/CHF is barely changed, GBP ... ditto, while EUR/USD has had around a 20 pip range also.

Central bank speak from Kuroda and Bullard today also ... to little effect.

Gold gained a few dollars from an earlier low while oil ran along the bottom end of its overnight range.

Regional equities with Shanghai closed for the lunch break:

  • Shanghai +0.52%
  • Nikkei +0.52%
  • HK -0.82%
  • ASX +0.26%

Still to come: The Nonfarm payroll report is a key focus ...

  • Infograph: Preview for the October US employment report
  • Have you got your NFP entry in? Here is Goldman Sachs' tip for the number
  • NFP preview from Westpac

And,

  • Central banker speeches coming up on Friday and over the weekend