Forex news for Asia trading Wednesday 26 July 2017
- More from RBA's Lowe: Today's CPI data in line with Bank expectations
- RBA's Lowe: No need to move in lock step with central banks that are hiking
- Heads up for AUD traders - RBA Governor Lowe speaking soon (due at 0305GMT)
- China's cabinet on centrally owned firms - on the auction block!
- US Senate Republican plan to repeal and replace Obamacare fails
- BOJ Dep Gov Nakaso: Still long way to go to meet 2% inflation target
- Australia - Q2 CPI Headline is 0.2% q/q (expected +0.4%)
- PBOC sets USD/CNY reference rate for today at 6.7529 (vs. yesterday at 6.7485)
- Heads up for AUD traders - Q2 inflation data due at the bottom of the hour
- "Copper ... is now being powered to fresh highs by optimism over China"
- US will soon issue new sanctions against Chinese entities
- Former Trump campaign manager has started providing documents in Russia probe
- What the big 4 Australian banks are looking for in today's inflation data
- Japan - PPI (Services, June): 0.8% y/y (expected 0.8%)
- Bloomberg on early indications from China on July economic data
- White House says Trump supports tough sanctions on North Korea, Iran and Russia
- NAB FX Strategy Research says "setbacks for AUD/USD are likely to be shallow"
- Its FOMC Day! Quickie preview from JP Morgan (plus another 4 previews)
- New Zealand - Trade balance for June: NZD 242m (expected 150m surplus)
- RBC on the Australian CPI (preview), RBA (Lowe speaking), and the AUD/USD
- Goldman Sachs EUR/USD technical analysis chart - targets
- ICYMI ForexLive Americas FX news wrap: US dollar gets a lift from Washington
- U.S. House Of Representatives votes for new sanctions on Russia, Iran, North Korea
- Goldman Sachs preview of the Australian inflation data due today
- Australia inflation data due today - preview
- Trade ideas thread - Wednesday 26 July 2017
- Economic data due from Asia today - and the RBA Governor speaks
- OIL - private inventory data shows larger than expected draw in US crude inventory
- RBNZ's McDermott: NZ neutral interest rate estimated at 3.5%
- Heads up for NZD traders - expecting an RBNZ speech but so sign as yet
- Oil - heads up for the inventory data due around the bottom of the hour
- And, another ICYMI and you like Australian LNG exporters :-D Petronas bails on huge LNG project in Canada in a total government failure
AUD a mover today with second quarter inflation data the focus. It came in lower than expected for the headline but in-line with expectations for the core measures. AUD/USD dropped 30-odd points on the data release, then bounced back 50% or so (which sounds more impressive than 15 points). The next major input for it was a speech (and following Q&A) from RBA Governor Lowe, which was mainly on labour market issues. Lowe touched on policy directly ... eg. No need to move in lockstep with central banks that are hiking ... but there was nothing from him surprising. As I update AUD/USD is drifting back towards its lows and the Q&A session is continuing.
Elsewhere it was a light session for news and data, we had a BOJ speaker (little impact).
USD/JPY moved above 112 into the Tokyo fix but sagged a few points after and maintained a very small range indeed. US political news failed to move it much as the 'will anything ever get done?' saga continues to drag on and on.
CAD, CHF, EUR, GBP are all little changed against the USD on the session. NZD is a few tics higher, not much in it at all.
Regional equities:
- Nikkei +0.43%
- Shanghai -0.37%
- HK +0.03%
- ASX +0.96%
