ForexLive Asia FX news: Deal on US government funding reached, averting shutdown

Forex news for Asia trading Monday 1 May 2017

• NZ Monthly Economic Indicators for April


• US press report deal made to fund government through to September


• No PBOC USD/CNY mid-rate today (China on holiday)


• BOJ JGB purchases today - reduces amount bought in the 3 to 5 year range


• Australia - Melbourne Institute inflation gauge (April): 0.5% m/m (prior 0.1%)


• Japan - Nikkei Manufacturing PMI for April, final: 52.7 (vs. preliminary 52.8)


• Plenty of Asia market holidays today


• ANZ on AUD: What it"ll take for a range break on AUD


• Australia - manufacturing PMI (April): 59.2 (March was 57.5)


• When will Apple intervene in currencies? FX reserves exceed UK & Canada combined!


• Update to the Economic data due from Asia today (one piece out early)


• Brexit - UK press (Times front page): May renews threat to walk away from EU without a deal


• "Five big investment themes for the week ahead"


• Goldman Sachs economists say the US economy is "now at full employment"


• "5 things that will drive oil prices in May"


• Here is the big data point coming up from the US on Monday (PCE)


• Weekend press: "Green shoots visible in ... " (guess the country)


• ForexLive weekend news - all in one place


• Trade ideas thread - Monday 1 May 2017


• Economic data due from Asia today (we already had China PMIs on the weekend)


• ICYMI - Weekend China data for manufacturing & services PMIs (lower)


• Iran Oil Minister - positive signals from OPEC & non-OPEC for extension of cuts


• French election - Le Pen on the euro: innie or outie?


• Alitalia - Italian economy minister says shutdown would be a shock for GDP


• German Fin Min Schaeuble says Greece has made good progress on reforms


• Monday morning 1 May 2017, Forex prices, early indications

Weekend:

• China Manufacturing PMI (April): 51.2 (expected 51.7)


• China Services PMI (April): 54.0 (prior was 55.1)


• Expect drama as Congress gives itself a week to avert government shutdown


• May feeling a bit of the curse of the frontrunner in the latest poll


• More from Abe: Japan supports a strong UK and Europe after Brexit


• Japan"s Abe says latest N.Korea missile launch was a flagrant violation of UN decisions


• EU 27 leaders agree Brexit negotiation guidelines in rapid time


• Report from S. Korea news agency: N. Korea has test-fired a ballistic missile

ICYMI:

• Forexlive Americas forex news wrap: US GDP tiny, but who cares? It"s just the 1Q.

It was a holiday-thinned trading market today with Singapore, Hong Kong and China on holiday but Australia, New Zealand and Japan all open. There was plenty of news and even data flow (China PMIs out on Sunday) though, most notably, the mid-(Sunday) evening (US time) news that a deal had been reached to secure government funding through to September, thus avoiding a shutdown.

USD/JPY slid in early trading, shuffling around under 111.40 but  the US news saw a stronger USD, with USD/JPY up through 111.70 (briefly) before finding a top. Option-related interest around 118.00 is something to keep an eye on in the hours ahead, although much of Europe will be out on holiday also today.

The weaker Chinese PMIs saw AUD softer to open the week, but it has since come back to be little changed from late Friday US levels as I update. NZD, too, little net change.

It"s a similar story for EUR/USD, its had a small range but little net one way or the other from late Friday in the US.

USD/CHF has gained a few points(small only) while cable slipped a little, toward (but not to) 1.2900. There have been various bits and pieces of Brexit-related news items (see bullets above).

Gold lost ground after reaching circa 1271 earlier in the session, dropping not quite $10. Oil has not done too much.

USD/CAD had a 30-odd point range, its slightly higher than the late Friday US price.

Regional equities:

• Nikkei +0.41%  


• ASX +0.06%

Still to come:

• Here is the big data point coming up from the US on Monday (PCE)
  

More:

North Korea test-fired a ballistic missile on Saturday

• U.S. officials, speaking on condition of anonymity, said the North Koreans had probably tested a medium-range missile known as a KN-17 and it appeared to have broken up within minutes of taking off.


• The South Korean military said the missile reached an altitude of 71 km (44 miles) before disintegrating.

So, one of the "Turkey class" North Korean missiles then? The one"s that can"t fly

ForexLive Asia FX news: Deal on US government funding reached, averting shutdown
ForexLive Asia FX news: Deal on US government funding reached, averting shutdown
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