Forex news headlines for UK and US December 22 & Asia trading Wednesday 23 December 2015

Asia:

  • US data agency says personal consumption early release was inadvertent
  • Caixin reports China's banking regulator halts Private Equity arms of 17 banks
  • US Commerce Dept has released Nov. spending data early. +0.3% m/m
  • PBOC sets yuan reference rate for today at 6.4731
  • NZ November trade balance NZ$ -779 mln (expected -810m)
  • Oil - American Petroleum Institute (API) data - Inventories fall 3.6mln bbls
  • Trade ideas thread for Wednesday 23 December 2015

A subdued FX session in Asia again.

The only data of note was from New Zealand, with an inadvertent release of US data also providing some interest.

The New Zealand November trade deficit narrowed more than was expected on the month, with a big surge in exports cited. (The yearly trade deficit, though, has come in at its largest since 2009.) There were higher than expected exports to the EU and China (but softness in exports to Australia). Dairy and meat exports were both up, although care should be taken with the meat export results as it is drought-impacted (an early slaughter). Imports were stronger also, consumption goods notably higher which is likely an indicator of strong household spending.

From the US we got 'personal consumption' data released inadvertently by the US Commerce Department's Bureau of Economic Analysis around 12 hours ahead of schedule. Whoops. +0.3% m.m (and for more see bullets, above).

Forex ranges were small, as was that for gold. Oil gained a little on API stock reports (inventories lower).

Regional equities as of Shanghai closed for the lunch break:

  • Nikkei (Japan closed for a holiday today)
  • Shanghai +0.16%
  • HK +1.07%
  • ASX +0.60%

US headlines for Tuesday 22 December 2015

  • What the top 2015 forecasters expect in the year ahead
  • Sell EUR/USD at 1.10 - Credit Agricole
  • Dollar slips after home sales slump
  • December 2015 US Richmond Fed manufacturing index +6 vs -1 exp
  • November 2015 US existing home sales 4.76m vs 5.35m exp
  • US FHFA house price index matches estimates

UK headlines for Tuesday 22 December 2015

  • US GDP QoQ Q3 (Final) 2.0% vs 1.9% est.
  • UK PSNBR Nov GBP 13.6bln vs 11.1bln exp
  • Trading Ideas - European session 22 Dec
  • Swiss trade balance Nov +CHF 3.14bln vs +CHF 4.09bln prev
  • German import price index mm -0.2% as expected
  • Germany GFK consumer confidence Jan 9.4 vs 9.3 exp