Forex news for Asia trading Friday 23 October 2015
- Australia's ANZ Bank hikes its mortgage rate
- Video - Mortgage rate hikes in Australia will not prompt an RBA rate cut
- Report: Sources say BOJ likely to push back timing for hitting target
- Japan finance minister Aso: BOJ to decide whether additional easing necessary
- Conference Board Leading Index for China (September): +1.6% m/m
- Japan Nikkei manufacturing PMI (October flash): 52.5 (Expected 50.5)
- China house price data: September new home price -0.9% y/y (prior -2.3%)
- People’s Bank of China (PBOC) sets yuan reference rate at 6.3595
- How to play EUR/USD & EUR/GBP shorts from BNP
- Nomura's ECB review - 'very dovish' due to downside risks to growth, inflation
- Why is CBA recommending a GBP/CAD long?
- Some China headlines crossing ... deflation, slowdown .... the usual :-D
- Australia - NAB hikes home loan rate
- The World is More Random Than You Think
- Finally revealed ... The best forecasters of Australia's economy
- Shanghai Securities News: PBOC researcher sees more balanced yuan policy
- BOE's Bailey says bank will help small lenders cut capital reqmts
- I found one! Here's someone who likes the euro (sort of)
- The TGIF trade ideas thread for Friday (d'uh) 23 October 2015
- US stocks surge. Close near high levels
- Late US - Currency movers: EUR the weakest. NZD the strongest
EUR/USD continued lower in the early Asian trading, ticking below 1.1080 and finding some support. it had a small bounce and then retested the lows before recovering a little higher, eventually (as of writing) around 40 or so points higher from its lows. Given it fell 250 odd points overnight, I've dubbed it a mini recovery. Smaller adjectives welcome.
AUD and NZD both staged decent recoveries. AUD/USD knee jerked itself lower on the release of news from one of Australia's large commercial banks that it was joining the mortgage rate hike team (following the lead of 2 other banks ... leaving just 1 of the big four (ANZ) yet to move ... aaand .... as I write, ANZ have joined in to make the hikes from all 4 of the big 4).
USD/JPY traded higher in the Tokyo morning, toward 121.00 but has since come back 30 or so points to me more or less unchanged on the session. The Nikkei 'flash' Manufacturing PMI today showed a good size improvement on the month; encouraging news for the Japanese economy.
Cable followed the lead of the EUR, trading in a similar patternto be up 35 odd points from its earlier low. USD/CHF is barely changed.
Oil and gold are both higher on the session.
And ... you'll never guess what stock markets did after Dr. Draghi's generosity overnight ... Regional equities at the break for Shanghai lunch:
- Shanghai Composite a laggard at +0.02%
- Nikkei +2.58%
- HK +1.37%
- ASX +1.9%
- A special shout out to the KOSPI today, which hit a 3-month high on the back of Korean GDP growth showing at its fastest since 2010
