Forex news for Asia trading Monday 12 October 2015

Monday:

China

  • China's stock market regulator tells HFTs to shove it
  • Xinhua: China finance minister Lou says US does not meet condition for rate hike, and: More on China finmin telling the Fed its global responsibilities mean it can't raise rates
  • PBOC deputy governor says China's stockmarket correction is almost over and More on "PBOC deputy governor says China's stockmarket correction almost over"
  • PBOC sets USD/CNY mid-point for the day at 6.3406

Australia, New Zealand:

  • Best forecaster of the Australian dollar estimates it will end 2015 at 69 cents
  • Australia data-Credit Card Purchases and Balance for August
  • New Zealand - REINZ September House Sales: +38.3% y/y (prior was +41.7%)

Japan:

  • IMF's deputy managing director urges Japan to go ahead with sales tax hike
  • Weekend Nikkei: Japan to cut effective corporate tax rate
  • The 3 problems causing Japanese retailers to run scared with spending at a halt

Oil, gold

  • Oil-ANZ 10% upgrade forecast for WTI crude in 2016
  • Gold-the Indian government wants you to deposit your gold with bank
  • BNZ updates currency forecasts, reduces the expected pace of USD appreciation
  • Barclays like strategic USD longs (short EUR/USD, stop loss & profit levels)
  • Morgan Stanley's 36 stocks that should thrive - Secular Growth Stocks list
  • ECB head Draghi gets into the Greek press, says Greece needs both debt relief & more
  • BUBA (and ECB)'s Weidmann: Long-lasting low interest rates have increased financial risk
  • Sweden opposition parties quit budget pact. Snap election coming up?
  • Trade ideas thread to begin the new week-Monday 12 October 2015

Weekend

  • US Social Security increase will likely be zero
  • Bets placed, Irish central bank decision down to two
  • Russia's Putin does not plan to restrict movement of capital or foreign currency earnings
  • Repeat: ECB's Lautenschlager says Eurozone countries still face very large domestic vulnerabilities
  • ECB's Lautenschlager says domestic vulnerability of Eurozone countries are still very large
  • Fed's Fischer sees a rate hike this year but it's "an expectation not a commitment"
  • BoC's Poloz weekend comments on Canada, China and global economy,
  • BoE's Shafik: Central bank hikes to discourage leverage in EMs could be misguided
  • Weekend reading: Back to the Bernanke era
  • Five reasons to bet on gold
  • Bloomberg poll says economists now see a 15% chance of a US downturn in the next year
  • UK lawmakers will review "costs and benefits" of EU membership

The week opened with little change despite the numerous comments and views being expressed at the IMF conference in Peru. For me Fischer's weekend remark stands out, it may well be the first hint of a change in emphasis coming from the Federal Reserve.

Chinese stocks were the big mover today, at the lunch break the Shanghai Composite is up 3.38%.

Other regional markets were (mostly) not doing too badly either (ASX, you go stand in a corner, down 0.74% as of updating).

In the currency markets, some small movement to keep us paying attention. EUU, GBP and CHF are all a little higher (just a little, not much in it) against the USD. USD/Yen tested down around 120.10.

AUD and NZD both dipped in the early going, but the 'risk' environment improve was reflected in these too, both with good bounces. AUD/USD has ticked briefly abopve Friday's highs, while NZD hasn't quite managed it that high. ANZ New Zealand inflation data showed a subdued reading today (+0.1% m/m and +0.3% q/q).

Oil eked out a few cents of gain, as did gold.

Still to come:

  • Market holidays today... Japan, US, Canada