Forex news for Asia trading Wednesday 19 July 2017
There's a headline I thought I'd never write :-D (Actually, can someone remind me to do so again just before Easter?)
- China media: China plans to cut number of central SOEs to over 80
- Former BoE MPC member says the Fed is making a big policy error by raising interest rates
- ECB meeting Thursday - preview
- BOJ meeting concludes tomorrow - 'Is the BOJ about to shock markets anew?'
- European Central Bank meeting Thursday - preview
- PBOC sets USD/CNY central rate at 6.7451 (vs. yesterday at 6.7611)
- Westpac on RBA: Will be "forced to revise down ... forecasts ... need to raise rates will dissipate"
- Australia - Westpac Leading Index: -0.14% m/m (prior -0.01%)
- S&P on Mexico - outlook revised to stable (from negative), rating affirmed
- More from the BoA/ML Global Fund Manager Survey - the 3 biggest tail risks
- BOJ meeting concludes tomorrow - preview
- Did the Australian dollar market overreact to the 3.5% comment in the RBA minutes?
- Reuters Tankan for July: Manufacturers index unchanged on the month
- Westpac on their fair value model for the AUD/USD
- Australian regulator announces new "capital adequacy" targets for banks
- More on the US Senate vote to take up Obamacare repeal next week
- US senate's McConnell says senate will vote on repeal of Obamacare early next week
- White House official says Trump, Putin held a second, undisclosed meeting at the G20
- Add this to today's economic calendar for Japan - Reuters July Tankan
- BOJ meeting begins today, concludes tomorrow - Goldman Sachs preview
- BoA/ML Global Fund Manager Survey on the 3 most crowded trades
- Greece bond issue "is shelved for now"
- Goldman Sachs on US fiscal policy in the wake of the most recent fail
- Trade ideas thread - Wednesday 19 July 2017
- ICYMI #1: The snapshot of the strongest and weakest in trading today
- OIL - Private inventory data shows surprise build in US crude stocks
- Heads up for oil traders - inventory data due at the bottom of the hour
- Economic data due from Asia today (& some late RBA speak!)
- ICYMI #2: Nasdaq and S&P close at record highs.
- ICYMI #3: ForexLive Americas FX news wrap: Washington not doing the dollar any favors
Thursday is a big one, with the Bank of Japan (2-day meeting concludes):
- BOJ meeting concludes tomorrow - 'Is the BOJ about to shock markets anew?'
- BOJ meeting concludes tomorrow - preview
- BOJ meeting begins today, concludes tomorrow - Goldman Sachs preview
and the European Central Bank meeting:
Early Asia kicked off /late US wound down with the regular private oil inventory data, this time bringing a surprise build in stocks and seeing WTI drop a little on the news.
Data flow was very light indeed, with some lower tier data from Australia and the Reuters Tankan for Japan (July). News flow was light also - S&P on Mexico (rating affirmed, outlook bumped up), Greek bond issue 'shelved for now', and US politics providing a talking point.
Currencies traded small ranges, but some movement:
EUR/USD dribbled a little lower (not much more than a 15 point range):
USD/JPY is little changed after a circa 20 point range while CHF and GBP both subdued against the USD also.
USD/CAD is a few points higher and NZD/USD a few lower. AUD, though, has managed to gain a little against the USD but also not much more than a 20 point range. AUD benefitted from an iron ore price gain in the overnight and also from a move higher for the rock on the Dalian exchange today.
Regional equities:
- Nikkei +0.10%
- Shanghai +0.80%
- HK +0.42%
- ASX +0.74%