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!)