Forex news for Asia trading Tuesday 14 February 2017

  • Japan - Industrial Production for December, final: 0.7%
  • Update: Trump National Security Adviser Flynn quits amid Russia contacts
  • CNN reporting National Security Adviser Michael Flynn has resigned
  • Preview: Fed Yellen Speaks: Humphrey-Hawkins - Barclays, BofA Merrill
  • China asset mgmt. association bans some types of property investment in 16 cities
  • AUD/USD back near recent highs
  • Reminder - China total financing data still to come (today or tomorrow)
  • Data due from the US today, and Yellen speaking (amongst many others!)
  • China January inflation data lifts outlook for global reflation - more
  • BOJ's Kuroda says won't change policy b/c of higher global bond yields
  • China (January) CPI 2.5% y/y (expected 2.4%) & PPI 6.9% y/y (expected 6.6%)
  • More details on WSJ: "US said to eye new currency strategy to pressure China"
  • PBOC sets USD/CNY reference rate for today at 6.8806 (vs. yesterday at 6.8898)
  • WSJ: "US said to eye new currency strategy to pressure China"
  • Comments from Japan's Abe and Aso (insert blah blah blah here)
  • Australia January Business Confidence: 10 (prior 6) & Conditions: 16 (prior 11)
  • USD/JPY & EUR/JPY orderboards
  • EUR/USD orderboard
  • "Downturn in China’s property cycle seen hurting steel demand"
  • BOJ Governor Kuroda to appear in parliament today
  • Fed's Kaplan: Fed should hike sooner rather than later
  • HSBC: The 3 factors that have driven the AUD are no longer in alignment
  • Australia - ANZ Weekly consumer confidence: 116.4 (prior 117.5)
  • Trade ideas thread - Tuesday 14 February 2017
  • AUD and NZD orderboards
  • NZ data - Food Prices for January +2.8% m/m (prior -0.8% m/m)
  • France's Macron says he will be 'pretty tough' on the UK in Brexit talks
  • Italian regulator issues notice on binary options, CFDs, & spot forex
  • IMF on the no special deals for Greece (recap)
  • Economic data due from Asia today - China inflation, BOJ's Kuroda speaking

ICYMI:

  • ForexLive Americas FX news wrap: Trump and Trudeau all smiles

The Australian dollar was the big mover here today, with a non-spectacular 40-odd point range. Strong business conditions and confidence data (for January)

  • Australia January Business Confidence: 10 (prior 6) & Conditions: 16 (prior 11)

... really strong (conditions to their highest since 2007) saw the currency higher.

It got a further spurt on higher than expected Chinese inflation (January CPI and PPi both above median consensus expectations) :

  • China (January) CPI 2.5% y/y (expected 2.4%) & PPI 6.9% y/y (expected 6.6%)
  • China January inflation data lifts outlook for global relation - more

Later news during the session on the resignation of Trump's National Security Adviser Michael Flynn. This sent USD/JPY lower a little after a day of trading around 113.70-ish. As I update its down around 113.50 after hitting briefly under 40. So, again, not much of a range. EUR and CHF gained also in the aftermath, EUR/USD to a new day's high around 1.0610 (from lows circa just above 1.0590.

NZD is little changed on the session, gold up small as is oil.

Latest update: Update: Trump National Security Adviser Flynn quits amid Russia contacts

Regional equities:

  • Nikkei -0.62%
  • Shanghai -0.14%
  • HK +0.01%
  • ASX -0.09%

Still to come:

  • Preview: Fed Yellen Speaks: Humphrey-Hawkins - Barclays, BofA Merrill
  • Data due from the US today, and Yellen speaking (amongst many others!)