Forex news for Asia trading Tuesday 24 October 2017
- EUR/USD: There is a 'usual pattern' around this week's ECB meeting
- ECB meeting & EUR/USD scenario analysis ('Cheat Sheet' preview)
- More NZ headlines - RBNZ review focus on employment and price stability
- New NZ PM says committed to fiscal responsibility
- Australia is next in line to regulate Bitcoin
- Goldman Sachs warn on ISM indicator > 60 “typically marks peak growth”
- People’s Bank of China sets yuan reference rate at 6.6268 (vs. yesterday at 6.6205)
- Japan economy minister Motegi on next TPP negotiations
- FX options expiry for the New York cut at 10am, Tuesday 24 October 2017
- Japan October manufacturing PMI (flash): 52.5 (prior 52.9)
- What will EUR/USD do when the ECB announce their 'taper'?
- The bond (USTs) trader 'Fed proof' trade
- PIMCO: No China deleveraging in next year, "we don’t envisage a drop in the debt stock"
- UBS on what to expect from the ECB this week
- SG on Australian inflation - continued weak underlying price pressures in Q3
- Australia - ANZ-Roy Morgan Australian Consumer Confidence 113.3 (prior 112.4)
- Warsh met with Vice President Pence about Fed Chair job last week
- Italian fin min says growth can get as high as 2%
- Australian Q3 inflation report due this week - another preview
- Barclays' oil outlook - say that scope for price upside is limited this year & next
- Two banks weigh in on where to for the Australian dollar today
- USD/JPY technical analysis - been staging a steady recovery ... but ...
- Did you hear the one about the PBOC governor and his Minsky?
- Trade ideas thread - Tuesday 24 October 2017
- Credit Agricole on USD/JPY: How to trade Fed Chair nomination
- All major stock indices end the day in the red today
NZD/USD (and NZD crosses) dropped sharply today but not before a whipsaw pop initially. NZ Labour leader Ardern announced policy initiatives, with the first headlines to cross being in reference to fiscal responsibility. NZD/USD was marked higher to just over 0.7000 but then slid, with announcements of a review to the RBNZ Act (Labour had promised this during the election), and housing moves. More here:
- More NZ headlines - RBNZ review focus on employment and price stability
- New NZ PM says committed to fiscal responsibility
NZD/USD is down under 0.6950 as I update on the back of all this. AUD/NZD climbed, AUD/USD had been ticking steadily higher (only small) for much of the session and the AUD/NZD buying gave it a bit more of a tailwind. AUD/USD got as high as circa 0.7825, so again, the move was not large.
EUR/USD buying, too, along with a bid behind GBP/USD taking it up. Both surpassed North American timezone highs but without running away to the topside as of updating. USD/CHF is down a few points only, Again, all the ranges for those were small only, but for Asia at least it was something. There was no relevant news nor data to drive forex.
The USD was weaker against the CAD also, that's down under 1.2625 as I update.
