Forex trading headlines for Asia Tuesday 23 September 2014
- New Zealand dollar – farmer confidence at 2 year low
- Federal Reserve Kocherlakota: Fed can let inflation exceed 2% to lower the jobless rate
- More from …. Kocherlakota Says Fed Should Be More Aggressive on Inflation Target
- Australia – ANZ Roy Morgan weekly Consumer Sentiment for the week ended September 21: 112.9 (prior was 111.3.)
- Kocherlakota US needs to be careful on EU-like disinflation
- IMF’s Zhu Min – China can accept a GDP growth of between 7-7.5%
- Shanghai Securities News says a China big four state-owned bank to ease policy on mortgage lending
- Australian press: ‘Everyone is nervous’ about iron ore, says Vale
- Australia – BHP Billiton Mitsubishi Alliance to axe 700 mining jobs
- U.S. & partner nations have launched bombing attacks against Islamic State targets in Syria
- China – HSBC Flash manufacturing PMI for September: 50.5 (vs. 50.0 expected)
- Moody’s: Australian government financial strength high vs. most Aaa countries
Cable continued its grind higher during the session, helped along by some broader USD weakness in the Tokyo morning to settle above 1.6380 (as of writing).
EUR was mainly sideways until that USD weakness, and then gave back much of its 15-odd point pop.
USD/JPY dribbled its way lower in the Tokyo morning (oh, ps. Tokyo was closed for a holiday today) only to find support around 108.60 and pop 20-odd points from there.
USD/CAD was a fraction higher in the early going, off about 10 points from its session highs as I write.
Gold and oil both popped higher on the session, US/partner airstrikes having an impact.
The NZD lost some ground from the NY close, finding support again around 0.8100 (just ahead of there) – we should get a Fonterra announcement on Wednesday remilk pricing going forward.
AUD/USD tracked sideways through much of the morning, popping a little on the USD bout of softness, giving some back then supported again on the China data. the range, though, was small (as it was across the board for currency rates here today).