Forex news for Asia trading Tuesday 18 July 2017
- Here is something in the RBA minutes I haven't seen much on
- More China headlines - PBOC reiterates that monetary policy to be prudent, neutral
- RBA minutes - analyst responses coming in. Here's another.
- RBA minutes - analyst responses coming in:
- RBNZ publishes its inflation models
- More US politics: McConnell says Senate to vote on Obamacare repeal ...
- China said to tell banks to lower the return on wealth products
- USD still sliding
- RBA July meeting minutes recap - upbeat comments help AUD higher
- All China June new home prices +10.2% y/y (May was +10.4%)
- RBA July meeting minutes - says again rising AUD complicates rebalancing
- RBA July meeting minutes due at the bottom of the hour - what to expect
- People’s Bank of China sets yuan reference rate at 6.7611 (vs. yesterday at 6.7562)
- EUR/USD on the rise (US healthcare bill - Rs lose majority support)
- FT: Rio Tinto lowers iron ore guidance
- EUR/USD stretched positioning ... upwards without some kind of correction?
- BOJ ETF buying is said to raise concern among some officials
- Earthquake - Tsunami warning issued
- Australia - ANZ/ Roy Morgan weekly consumer sentiment: 112.5 (prior 113.0)
- More on China "should' widen the yuan trading band (& other China headlines)
- A flat inflation rate q/q for New Zealand - what it means for the RBNZ
- Some China headlines - monetary policy, yuan band
- New Zealand inflation data for Q2: CPI 0.0% q/q (expected +0.2%)
- Iran foreign min: Hopes for no direct confrontation with Saudi Arabia
- HSBC on the RBA & Australian dollar (fundamental & technical comments)
- More on the NZD - CPI & GDT coming up, Bascand's comments, RBNZ implications
- Heads up for NZD traders - It's the Global Dairy Trade auction in London today
- The $US246 million fine for currency manipulation
- ICYMI: Forexlive Americas FX news wrap: USD moves a little higher in quiet Monday trading
- NZ inflation data and RBA minutes due today - here is a twofer preview
- Canada statement on NAFTA now - will defend its national interest
- Goldman Sachs on the RBA & AUD: "long time since they've signalled concern about it"
- As part of Made in America week I'll be posting special forex quotes until Friday
- Trade ideas thread - Tuesday 18 July 2017
- Australia - RBA July meeting minutes due today - preview #4
- Its "Made in America" week on ForexLive too!
- Australia - RBA July meeting minutes due today - preview #3
- US Trade Office: NAFTA nations must commit to avoid currency manipulation
- ICYMI: US stocks end the day with small changes
- Australia - RBA July meeting minutes due today - preview
- Australia - RBA July meeting minutes due today - Goldman Sachs preview
- New Zealand inflation data for Q2 due 2245GMT - preview
- Economic data due from Asia today (& RBA minutes)
An active day here in Asia with plenty of currency movement.
For two-way movement the kiwi took the prize. Q2 inflation data from New Zealand came in much lower than forecast:
NZD/USD was marked down immediately, losing 50+ points. It edged back a few ticks but then ... Next up was breaking news from the US, once again politics there taking centre stage with the confirmed death of the latest iteration of the Republican healthcare bill as two more senators refused to vote for the bill, meaning no majority for the Rs with this:
- EUR/USD on the rise (US healthcare bill - Rs lose majority support)
The USD began to gain on the news and it soon accelerated. EUR and yen were big gainers, but US dollar losses were not restricted to these two, currencies pretty much across the board rose.
Gains accelerated for the AUD upon the release of the RBA minutes for the July meeting. The Statement that accompanied the July 4 decision was notably neutral, but the minutes today were much more upbeat.
- RBA July meeting minutes - says again rising AUD complicates rebalancing
- RBA July meeting minutes recap - upbeat comments help AUD higher
- RBA minutes - analyst responses coming in. Here's another.
- RBA minutes - analyst responses coming in:
- Here is something in the RBA minutes I haven't seen much on
Not only did the release help the AUD, but NZD/USD gathered pace too, erasing its earlier losses and turning to a gain on the session (NZD is lower against the AUD though).
ps. Yields on US Treasuries are little changed despite the US politics news. If that remains the case it suggests currency retraces would not be too surprising (AUD might be an exception given its specific news).
Regional equities:
- Nikkei -0.80%
- Shanghai -0.62%
- HK -0.14%
- ASX -1.08% (RBA talking 3.5% neutral rate didn't helps the ASX much)
