Forex news for Asia trading Monday 31 October 2016
Monday:
- BoA, UBS on an "unofficial" Swiss National Bank EUR/CHF floor at 1.08
- USD, EUR, JPY, CHF, CAD, AUD, NZD: Weekly Outlook from Morgan Stanley
- Goldman Sachs FOMC preview
- RBA meet Tuesday - what to expect (part 2 - this bank calling a rate cut)
- RBA meet Tuesday - what to expect (part 1 - no change)
- NZ economy indicators point to stronger GDP growth in the H2 2016 than forecast
- New Zealand Money Supply M3 (September) +4.8% y/y (prior +5.3%)
- Goldman Sachs says high USD may lead to FOMC delay rate hike
- PBOC sets USD/CNY mid-point today at 6.7641 (vs. Friday at 6.7858)
- Australia, private sector credit (September): 0.4% m/m (0.4% expected)
- UK data: "Business confidence hits post-referendum highs"
- Australia private inflation gauge (October): 0.2% m/m(prior 0.4%) & 1.5% y/y (1.3%)
- NZ Business Confidence (October) 24.5 (27.9 previously)
- Japan: Sep. (prelim.): Industrial production 0.0% m/m (expected 0.9%)
- China press: SAFE says no new restrictions on forex trading
- Australia: ANZ shares halted - sale of wealth, retail units in 5 countries
- PBOC advisor says China should prioritize economic stability vs. yuan
- Weekend: Ex-RBA Edey says further monetary stimulus may be counter-productive
- FBI"s "explosive information" on close ties between Trump & Russian government
- The week ahead in Asia / Pacific - the key releases coming up
- New Zealand building consents (permits) Sep.: +0.2% m/m (prior -1.0%)
- Weekend: Reserve Bank of Australia Seen Calling Time on Five-Year Easing Cycle
- Trade ideas thread - Monday 31 October 2016
- FT reports: Mark Carney stands ready to serve 8-year term at Bank of England
- USD/JPY update, or should that be downdate?
- Monday morning FX 31 October 2016 - foreign exchange prices, early indications
Weekend:
- The top 5 economic events/releases for the new trading week
- Carney to decide this week on his future at the Bank of England?
- Earthquake measuring 6.6 strikes central Italy ... (plenty of earthquakes reported through Italy since the weekend big one - our thoughts are with all those affected)
- Oil - Non-OPEC yet to pledge concrete oil output steps
- Don"t forget UK and European clocks go back 1 hour tonight
- EU-Canada trade deal to be signed off tomorrow (Sunday)
- Clinton demands details of new email investigation by the FBI
- CFTC Commitments of Traders: EUR shorts the largest since January 2016
GBP opened weakly in (very) early Asia here this morning, with weekend reports that Bank of England Governor Carney was perhaps to resign. The Financial Times subsequently reported that Carney was likely to serve out his term in office, more accurately:
- has told friends that he is likely to make a statement on his future this week ... is said to be leaning strongly towards staying in his post
GBP recovered, trading back through its earlier gap down and then above 1.2210 (briefly).
USD/JPY also had a weaker opening, trading down toward 104.25 and then staging its own recovery, back above 104.85 but falling short of 105.
EUR, CHF were both a touch weaker on the session.
NZD is more or less unchanged. AUD/USD has ticked a little better for the day, up briefly above 0.7610. There is an RBA meeting Tuesday (Australian time), no change in policy is the widely expected outcome (22 of 28 analysts according to the Bloomberg survey), though there are a few analysts tipping a cut (CBA and Citi, for example, 6 of 28 surveyed in total).
Regional equities:
- Nikkei -0.30%
- Shanghai -0.45%
- HK +0.13%
- ASX +0.81%
Still to come:
- German Retail Sales (0700GMT)
- EU provisional Q3 GDP (10000GMT)
- October CPI (1000GMT)
More:
- Japan"s three largest shipping companies have agreed to merge their container operations into one company
- Swiss National Bank defending a de facto franc limit at (EUR) 1.08 according to Bank of America and the asset-management unit of UBS Group
- State Street Global Advisors has unwound bets on the yen strengthening against the USD
ForexLive Asia FX news: Week opening GBP Carney gap, filled + more
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