ForexLive Asia FX news: USD/JPY surges ... no, wait ...

    Shutterstock photo

    Forex news for Asia trading Thursday 1 December 2016

    Yen was the bigger mover again here today. USD/JPY popped through 114.50, then 60 , 70 and 80 in rapid time as Japanese futures opened in Singapore. Like yesterday's initial move, it was reversed first by retracement, some consolidation and then ... USD/JPY carried on to fall to new session low. We got data from Japan today (capex and PMI) but these were not drivers. Stop losses and other flows ruled the day.

    EUR and CHF had only small movements, both are little changed on the day. GBP/USD has edged a little higher but is off its earlier top.

    AUD and NZD are both slightly higher for the session. AUD has edged up despite another round of poor data (Q3 Capex missed estimates, both the headline the 4th estimate for 2016/17 - see bullets above for more detail).

    Data also from China today, official PMIs and the private manufacturing PMI. All in expansion and indicating some economic stability, though the private survey was a touch weaker. More in bullets, but also a rundown via Bloomberg here: China Factory Gauge Matches Post-2012 High as Large Firms Lead .

    Gold took a tumble, slicing off 5+ USD from the price. The Financial Times reports on gold import restrictions announced in China (again,  see bullets above for more detail).

    Oil edged up to approach overnight highs.


    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

    More from ForexLive




    Follow on: