Forex news for Asia-Pacific trading on Nov 28, 2015:
- Report: China expected to unveil new growth measures. More rate cuts coming
- Chinese August industrial profits -8.8% y/y vs -2.9% prior
- Bloomberg China Monetary Conditions Index shows signs of improvement
- RBNZ says international forces remain an influence on economy
- NZ Q3 confidence survey shows lowest in 3 years
- Spain-Catalan separatists win regional election
- Spain-Catalonia-Head of regional government says to set basis for independence
- Gold up $1 to $1147
- WTI crude down 43-cents to $45.27
- US 10-year yields down 2 bps to 2.14%
- Shanghai Composite down 0.1%
- Nikkei down 1.14% in morning session
- JPY leads, EUR lags
A sedate beginning to the week in Asia today.
USD/JPY lost 20 or so pips, covered its loss and has since trickled back down towards its lows as of updating. Nikkei weakens in its morning session weighing on USD/JPY. EUR/CHF was heavy to start the Monday session but has regained its early losses to be near the top end of the Asian day's range so far. Against the USd both EUR and CHF traded in barrow ranges, EUR/CHF better bid the theme... but not a huge range by any means.
Cable is crawling along the top end of the session range as I update after a narrow day.
NZD opened weak but has covered its losses and then some to be 40 points up from session highs. AUDis a little better than Monday opening levels, by only a handful of pips or so. Concerns over China weakness (industrial profit weakness) weighs on the AUD, but hope of Chinese stimulus spings eternal (see bullets, above) and gave an optimism bid to AUD.
Oil is down a few cents, while gold has had a few chops in a $4-odd range.
Regional equities:
- Nikkei -1%
- Shanghai -0.2%
- ASX +1.2%