Forex news for Asia trading Tuesday 19 December 2017
- More from Japan PM Abe - Japan is no longer in a state of deflation
- Where to for the CAD? Fundamentals, positioning, and technical.
- Comments from Japan PM Abe - labour mkt reform, Nth Korea, China relations
- NZD traders - put these names on your radar re the RBNZ
- HSBC's new AUD and NZD forecasts for the coming year
- World Bank raises its forecast for China's economic growth
- RBA Dec meeting minutes were out earlier - responses coming in
- Japan economy minister Motegi: Economy in gradual recovery ... but
- Japan finance minister Aso speaking on regulating Bitcoin
- Japan lowers its FY2018 CPI forecast to 1.1%
- BOJ Governor Kuroda's term finishes in 2018 - analyst weighs in reappointment prospects
- China press - Growth in real estate investments likely to slow in 2018
- PBOC sets USD/CNY reference rate for today at 6.6098 (vs. yesterday at 6.6162)
- Nearby forex option expiries for Tuesday 19 December 2017
- Here are 74 questions on bitcoin, blockchain, and cryptocurrencies (with answers!)
- RBA Dec. meeting minutes: Further AUD rise would slow expected inflation, economy pick up
- RBA Dec. meeting minutes due at the bottom of the hour - previews
- NZ data: Dec. Business confidence -37.8 (prior -39.3) & Activity outlook 15.6 (prior 6.5)
- Moody's on NZ - say broad fiscal direction is unchanged
- Australia - RBA minutes (Dec. meeting) due today - preview
- RBA Dec meeting minutes due soon - quickie preview
- Bank of Japan meeting this week - preview
- NZD traders - heads up for the dairy auction due Tuesday (London time)
- Australia - ANZ / Roy Morgan Weekly Consumer Confidence index: 116.5 (prior 115.1)
- NZ Q4 consumer confidence data earlier - responses coming in
- Trade ideas thread - Tuesday 19 December 2017
- Australia - RBA minutes (Dec. meeting) due today - this is not a preview
- HSBC on when and why they expect the Reserve Bank of Australia to hike
- ForexLive Americas FX news wrap: US homebuilder sentiment hits 17-year high
- US stocks end up but off the high into the close.
- Susan Collins says she will support the tax bill
- Economic calendar due from Asia today ... its beginning to look a lot like Christmas
- City of London wants its own EU trade deal, Barnier says no
- Westpac Q4 New Zealand consumer survey 107.4 vs 112.4 prior
We got the odd bit of news and data today, but without too much currency rate movement.
Most notably:
- US tax reform developments: Susan Collins says she will support the tax bill
- Maybe some cognitive dissonance from NZ business: NZ data: Dec. Business confidence -37.8 (prior -39.3) & Activity outlook 15.6 (prior 6.5) ... A net 37.8% of firms expect the economy to deteriorate over the coming year but a net 15.6% expect their firms to grow. Maybe that makes sense, the two might bte separate groups, but nevertheless I found it a bit odd.
- RBA Dec. meeting minutes: Further AUD rise would slow expected inflation, economy pick up ... covered familiar themes but the Bank still seems a touch optimistic, especially on wage developments, but we'll see
There was more (see bullets above), but those were the main new points on the session.
As for currency impact and movement, well it was negligible. USD/JPY is up a little more than a handful of points, as is EUR/USD. USD/CHF and cable are little net changed at all on the session... down a tiny wee bit (technical terms).
Locally, AUD and NZD have been relatively sedate - there was a noticeable grind higher for the NZD/USD (noticeable in the context of the quiet day that is) but that has pretty much retraced to leave NZD/USD little altered for the session.
Still to come:
- The dairy auction. There is a preview in the bullets above. Futures pricing is indicating a higher result for the index ... but I should add that futures pricing indications have been rather hit and miss in recent months.
