Forex news for Asia trading Friday 6 March 2015
- RBA: AUD was 5% above TWI model valuation in Q4
- San Francisco Fed President Williams says that given lags in monetary policy, the FOMC should raise rates sooner, gradually
- Strategist says 60% probability no further easing from BOJ
- German private banker - EUR/USD weakness is more about USD strength
- Japans Economy Deputy Minister Nishimura: Weak yen is good for Japan economy
- HSBC still forecasting USD/JPY to 128 by year end
- 5 things to watch in the nonfarm payroll report on Friday
- EUR/USD to parity .... but when? Forecasts range for 1 month to 1 year (and more)
- WSJ: China on long, slow road to reform
- Nomura - says anything less than overwhelmingly positive from the NFP won't convince
- Securities News: China average GDP growth may slow to 6.2% 2016-2020
- ForexLive Hangout: A preview of the US employment report and review of Draghi's comments
- Australia - Performance of Construction index for February: 43.9 (prior was 45.9)
- Report reads as if it was written by Soviet-era bureaucrats who don't believe in markets
It was pre-NFP day in Asia, with currencies confined to tight ranges.
Overall we saw currencies higher against the USD, unwinding of long dollar positions was cited .... but ranges were not large.
AUD and NZD steadily gained, both up around half a big figure from overnight lows.
Comments from the Federal Reserve's Williams came late in the session and seemingly caught the market napping; problem was they weren't enough to cause anyone to bother waking up and the snooze continued.
Asian equity markets had a good session after the ECB easing details overnight. The Nikkei to another multi-year high.
Oil was basically flat. Gold too.
Still to come ...
Goldman Sachs nonfarm payroll (NFP) preview (and another 3 previews too!)
(ps. If you've read this far ... here's some inside info ... Mike is taking a long weekend ... Ryan will be joining us from 0500GMT)
