Forex trading headlines for Asia Friday 12 September 2014
- Latest poll – Scotland referendum poll: YES 48 / NO 52
- Morgan Stanley on the Scottish referendum – says sterling to $1.46 if a yes vote
- BusinessNZ manufacturing PMI for August: 56.5 (prior was 53.5)
- New Zealand – Food price index for August: +0.3% m/m (prior was -0.7%)
- CIA says ISIS “can muster between 20,000 and 31,500 fighters across Iraq and Syria”
- New Zealand data – House price index
- “The awful truth about Australia’s jobs market”
- Australia press; RBA board member says house prices rises not a crisis
- Xinhua News Agency: PBOC research chief economist says no need to introduce large-scale stimulus
- Bloomberg article: Yuan Loan-Backed Bond Surge Prompts China Risk Warnings
- China – new loans, aggregate financing, M2 money supply data
GBP jumped higher as the latest poll result leaked out (see bullets, above). It gained a little further in (very) early Asia but retraced pretty much its entire move higher as the session progressed and settled around 1.6235.
EUR was reasonable quiet, drifting around in a tight range but is net just tiny lower as I type.
USD/JPY continued to gain ground during the session, chewing through offers throughout the session … a similar story for EUR/JPY.
AUD and Kiwi were both heavy during the session, the AUD/USD finding bids at and ahead of 0.9080 … but it wasn’t enough …. stops were triggered below 0.9080 and it is barely off its session lows around 0.9065 as I type.
Gold traded to a 3 month low again while silver bettered it with a 12-month low.
Heads up for Australian dollar traders – data due from China over the weekend