Forex news for Asia trading Wednesday 29 October 2014
- Deutsche Bank – “continue to see AUD/USD declining to 0.80 …”
- NASA Antares rocket explodes on launch
- Citi like buying NZD/USD in the short term
- Japan – preliminary Industrial Production for September: +2.7% m/m (expected +2.2%)
- New Zealand – ANZ Business Confidence for October: 26.5 (prior 13.4)
- MNI/Wespac China consumer sentiment in October 110.9 (vs. 113.2 in September)
- World Bank says China can cut its 2015 economic growth target to 7%, still keep its labour market healthy
- Japan’s Government Pension Investment Fund – JGBs account for less than half of its portfolio now
Still to come!
- FOMC – 4 key things to watch (and 7 previews – all in one place!)
- Preview – Reserve Bank of New Zealand policy announcement due at 2000GMT
A sideways session for most currencies in Asia today ahead of the big meeting at the RBNZ FOMC coming up today.
Despite the lack of movement there was a notable data release with preliminary September industrial production results from Japan (see bullets, above). The m/m gain was the fastest since January and after strong retail sales data yesterday (rising at the fastest pace since March) it is another sign that the Japanese economy might well be bouncing back after the sales-tax hike 6 (nearly 7, now) months ago.
Oil was a small gainer through the session, up half a buck on session lows.
Asian equities were generally higher on the session (as of writing), the Nikkei, HangSeng and Kospi all registering gains.