- MAS announce no change to monetary policy.
- Singapore Q3 GDP expands 14.9% QoQ.
- Australia August personal finance commitments rise 4.1%, commercial finance rose by 5.6%.
- Australian Treasurer see unemployment rate rising. Sees no need to withdraw fiscal stimulus sharpely or prematurely.
- NewZealand House prices rise 0.6% in September.
- Thai Central bank governor says they in the process of diversifying USD reserves.
- Gold slightly higher at 1049.35
- Nikkei closed, other Asian bourses quiet,Kospi down 0.7%, ASX200 down 0.2% and the Shanghai composite is trading up 0.3%.
The USDJPY lead the USD broadly higher today as it tested offers at 90.00 early morning, then eventually breaking above. Early morning shorts were forced to cover as USDJPY traded up from its NY close. A mixture of sellers and small stops were filled above 90.00, but has spent the afternoon chewing thru offers between 90.00 and 90.20.
After an early spike higher, EURUSD saw Asian funds sell it off, forcing a long market back under 1.4700 and towards 1.4670. Sovereign names were reported on dips which made sense later, when the Thai Central bank governor said they were in the process of diversifying their USD reserves. However, there was no reaction to the headline as EURUSD trades just above 1.47.
EURJPY held the 132.00 technical level after break up and closing above 132.00. It tracked USDJPY higher with no major flows reported.
Light buying flows of AUDJPY were not enough to take the AUD higher today. The broad USD strength saw AUDUSD take a back seat, with traders happy to sell above 9050, but reports of China on the bid on Friday night at 90c restricted any fall back below.
Ranges:
EURUSD 1.4675 – 1.4741
GBPUSD 1.5808 – 1.5869
USDJPY 89.66 – 90.14
EURJPY 132.00 – 132.52
AUDUSD 9018 – 9059
Goodluck,
Sam