Forex news for Asia trading Thursday 20 July 2017
- Fitch ratings: China Signals Commitment to Tighter Financial Regulation
- All the previews of the European Central Bank meeting - in one place
- BOJ announce: No change to monetary policy, upgrade economic outlook
- A twofer European Central Bank preview
- Goldman Sachs - European Central Bank preview
- More from China's - SAFE & also comments from China / US trade talks
- China SAFE: Expectations of yuan depreciation have eased recently
- AUD popped on the jobs report, back to where it stated now
- Australia, NAB Business Survey for Q2: business confidence 7 (prior 7)
- Australia Employment Change (June): 14.0 K (expected +15.0K)
- PBOC sets USD/CNY reference rate for today at 6.7464 (vs. yesterday at 6.7451)
- JP Morgan technical analysis on the long term game changer for EUR/USD
- Australia press: PM Turnbull warns borrowers about rates going up
- Japan earthquake - northern Japan & Tokyo
- All the BOJ previews, all in one place
- Japan - Trade balance for June: Y 439.9BN (expected Y 488.0bn)
- Small ECB preview (& EUR/GBP trade recommendation "We like to buy")
- Goldman Sachs on Canadian housing market: "bust" model at 30% probability
- "Barely more than one in 10 UK firms putting Brexit plans into effect" warns IoD
- Bloomberg on the BOJ - "questions about the sustainability of its easing program"
- Japan's Cabinet Office statement - Japan still in 'moderate' economic recovery
- US officials comment on trade with China - remarks on trade deficit
- More BOJ previews - no change in policy is expected but watch the 'Outlook' report
- German fin min report - risks to economy from Brexit, US trade policies
- Australian employment report for June due at 0130GMT - preview
- Forexlive Americas FX news wrap: Guess what? Stocks reach new all time highs again
- Before the BOJ we'll get the Australian jobs report - preview
- Trade ideas thread - Thursday 20 July 2017
- Healthcare hope keeps stocks bid. Record closes.
- Its BOJ day - here is a preview (on hold expected)
- The Bank of Japan July meeting concludes today - here is when to expect the announcement
- Do the JPY shorts get squeezed or do they get a reprieve?
- Economic data due from Asia today - BOJ day!
Yep, the Bank of Japan announcement today, the one we waited for, was as expected.
- Monetary policy unchanged
- Forecasts for real GDP were raised
- Core CPI 'forecasts' lowered
Like I said, this was all as expected. No surprises from the Bank today. More:
The other focus today was the release of the monthly Australian jobs report (for June) - which came in with a huge result for full-time jobs added but a very slight miss on the headline. Details here:
If you wanted more from Australia today you got it, the Q2 NAB Business Survey (NAB produce a monthly business survey, this is a different one, produced quarterly) and ti came in at a good all round result also:
Otherwise data and news flow was light, but these two made up for that. On currencies, AUD and yen had a bit of a shuffle, as you'd expect on such a session.
AUD/USD edged up a little ahead of the jobs report and then popped towards 0.7990, but soon turned back down. The high was just short of 0.7990 and as I update its is near its session low just under 0.7940. It looks like there could be a few points remaining on the downside but bidders will be lining up soon (but, beware of any surprises from the ECB later ... though none are expected - yeah, I know, if they were they wouldn't be surprises!).
USD/JPY was relatively stable leading into the mystery BOJ announcement time (the BOJ does not have a firm, scheduled time for their monetary policy announcements at the conclusion of meetings, though Governor Kuroda is good enough to stick to an 0630GMT time for his press conference yet to come). It managed slightly higher (talking a few points only) and has consolidated another few points higher since the announcement.
Other currencies have held small ranges. Its ECB day, EUR and CHF are little net changed. GBP, too. NZD and CAD have both slipped a few points against the USD, as has gold while oil is a up a few cents.
Speaking of ECB day:
- A twofer European Central Bank preview
- Goldman Sachs - European Central Bank preview
- European Central Bank meeting Thursday - preview
- ECB meeting Thursday - preview
Regional equities:
- Nikkei +0.62%
- Shanghai +0.17%
- HK +0.30%
- ASX +0.57%
