Forex news for Asia trading Monday 20 July 2015

Monday

  • Caijing: China Securities Regulatory Commission isn't planning a stock-stabilization fund
  • USD/CAD Elliot Wave technical analysis from Morgan Stanley - targets higher
  • Australian hedge fund hiring - really. And you don't need a finance background
  • China Securities Journal: Researchers suggest easing back on yuan management
  • Gold smashed lower to multi year lows
  • RBNZ: 18/19 economists predict 25bp cut. The last one ... maybe not what you expect
  • The Economist says the euro is manufacturing misery
  • Coming up this week - Bank of England Minutes from the July meeting
  • French President Hollande calls for the creation of a euro zone government
  • China Securities Journal: State researchers see H2 economic growth at 7%
  • UK - Rightmove House Price Index for July: +0.1% m/m (prior was +3.0%)
  • New Zealand Performance of Services Index for June: 58.2 (prior was 58.1)
  • German finmin report shows economy likely growing moderately
  • Weekend oil news: Saudi oil exports fall to five-month low in May
  • AUD/USD Elliot Wave technical analysis from Morgan Stanley - targets a lot lower!
  • Competing against the Big Boys...The formula is right there on The Old Course
  • Monday 20 July 2015 - trade ideas thread to kick off the week
  • UK weekend press: Commodities crash could turn Australia into a new Greece

Weekend

  • Merkel says Greek maturities and interest rates up for debate but no haircuts
  • The next time you see a market crash prediction
  • Seth Meyers explains the Greece saga
  • German finance ministry dismiss reports FinMin Schaeuble considering resignation
  • Bundesbank denies report it thinks wage hikes are too low
  • Greek banks said to re-open on Monday
  • China vice finmin says China must learn lessons from its stock market rout
  • China data over the weekend - house prices rise m/m in June
  • Trouble with your trading? Learn how to Attack the Currency Trends

No Greek surprises and shocks this weekend, and we opened sedately in New Zealand this Monday morning.

There were minor, subdued currency moves until along came the China opening ...

Gold was the biggest mover, it smashed through 1130 and lost more than $50 in a flash. Low I saw was around $1072. it stabilised around $1105, dipped back toward 1090 and then recovered somewhat to be sitting back around 1105 again as I update. Chinese gold buying to build reserves last Friday was cited as the catalyst ... while the build was a solid one analysts had been looking for a higher figure.

ANZ reported later that 5 tonnes of gold was sold through the Shanghai bullion exchange ... "way above normal levels".

AUD/USD lost ground as gold fell, dropping to 0.7350/60 and settling there, before a move a little later to under 0.7350 to just under 0.7330. NZD/USD had a small spike to 0.6536 before dropping back, too. it is still holding above 0.6500, just.

The USD gained a little against other currencies, EUR/USD is resting on session lows as I update, as is GBP/USD and the CHF.

USD/JPY gained on the session also. I t is a Japanese holiday today, they're back in on Tuesday.