ForexLive Asia FX news: Subdued post-Yellen (& pre-Yellen!) session

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 15 February 2017


Asia FX responded to Yellen's testimony on Tuesday with a bit of a yawn. Follow through movement was limited. Long toothpicks (to prop open eyelids) was a popular trade. News and data flow was light, consumer confidence from Australia (an improvement m/m) and little else. Even US politics was boring.

USD/JPY edged higher early (just over 114.50) but dribbled back to under 114.30 as I update. EUR/JPY is up a little,

EUR/USD edged above 1.0580 but as I write there has been little added from there. USD/CHF is a tad lower on the session. Cable was a little more active, from Tokyo morning lows under 1.2450 it managed a 20 or so point bounce.

AUD/USD added a few points, following on from its US afternoon grind up. An early small slip toward 0.7650 and then a grind up again, finding some resistance on the session just ahead of 0.7680 and its not moved much from there as of writing. NZD/USD followed a similar pattern to the AUD.

Oil dropped on the inventory data in the late NY afternoon and hasn't recovered. Gold is down maybe a couple of dollars, not much in it.

All in all there wasn't a lot in the way of ranges as you can see.

China - the PBOC gave the CNY a boost against the USD today and carried on with OMO injections. They are alos looking to provide funds via MLF (although with 150bn odd rolling off of 6 month maturity funds today it may well be just on a roll over basis. Still awaiting details of amounts provided.

Regional equities a sea of green!

  • Nikkei +1.09%  
  • Shanghai +0.31%
  • HK +1.26%
  • ASX +0.93%

Still to come: