Forex news for Asia trading Friday 24 November 2017
- Australian data coming up next week - Oct. building approvals - preview
- Russia oil minister Novak says will discuss OPEC extension at Nov. 30 meeting
- Australian data coming up next week - Q3 Capex - preview
- FX and China stocks update
- Seven people arrested in China for moving US$3bn in yuan out of China
- UK Brexit & data update (from earlier) - Ireland veto, consumer confidence down
- China stock markets early indications - to open down
- Fitch on Chinese banks, shadow banking. Outlook for China banks still stable
- PBOC sets USD/CNY central rate at 6.5810 (vs. yesterday at 6.6021)
- BOJ reduces the size of its JGB purchases (by 10bn yen) today
- OK, its time to update the AUD crash ads for the next year
- FX option expiries - Friday 24 November 2017
- China stocks to open soon after big drop yesterday - what to expect
- Japan prelim. manufacturing PMI (Nov.): 53.8 (prior 52.8)
- Japan finance minister Aso says supplementary budget will invest in infrastructure
- Heads up for Japan stockmarket opening soon - could be a tough morning
- More Europe politics - now the Irish government looks wobbly
- Trade ideas thread - Friday 24 November 2017
- New Zealand - Trade balance (October): -871m (expected deficit 760m)
- GBP traders - heads up for a BoE MPC interview Friday morning (UK time)
- Mexico's Carstens says MXN is reflecting the possibility of a bad NAFTA outcome
- ForexLive Americas FX news wrap: Canadian retail sales slump
- Economic data due from Asia today
There was not a lot of movement in the forex here in Asia today. Japan returned from a holiday Thursday to find the yen much stronger, this was reversed just a very little throughout the course of the session (as I update). USD/JPY is up 25-odd points, with yen crosses higher alongside. EUR/JPY moved back above 132.00.
The Bank of Japan reduced their JGB buying today (compared with the previous operation in the 25+ year maturities. You'd sort of expect that to be yen bullish (even if just a little) ... but ... nope.
EUR/USD is barely changed on the session, as is USD/CHF. Cable has lost a few points only.
Ditto on the barely changed for AUD, while NZD/USD is down a few points. Trade data from New Zealand earlier in the session showed a larger than expected deficit (October) on the back of higher imports. The import figure seems to have been an aircraft-related lumpiness and likely not to be repeated next month.
China today:
- The PBOC set the onshore yuan reference rate at its strongest (for the CNY) since October 12.
- The net cash injection into money markets was 20bn yuan.
If either was aimed at bouncing the stock market, nope, not yet:
Although it has not fallen hard today (as of updating)
Regional equities:
- Nikkei +0.15% (weaker yen giving it a bit of a helping hand along)
- Shanghai -0.59%
- HK +0.35%
- ASX -0.12%
