Forex news for Asia trading Thursday 5 May 2016
- How to be a better forecaster
- Don't forget to get your entry in for the NFP competition!
- China - April Caixin Service PMI: 51.8 (prior 52.2) & Composite 50.8 (prior 51.3)
- Australia - Trade balance (March): Deficit 2.163bn (expected -2.9bn, prior -3.41bn)
- Australia - retail sales for March: 0.4% m/m (expected +0.3%). Also, Q1 data.
- Ex-PBOC board member says China needs fiscal stimulus
- PBOC sets USD/CNY central rate at 6.5128 (vs. yesterday at 6.4943)
- Australia - HIA New Home Sales for March: +8.9% m/m (prior -5.3%)
- China responds to inclusion on US 'currency manipulation' list: "**** ***!!!"
- Turkish Prime Minister Ahmet Davutoglu plans to step aside as leader
- Fed's Kashkari: US economic outlook - continued moderate growth
- Housing bubble inflating? Barclays to offer 0% deposit home loans again (sorta)
- Some of the ideas from hedge fund conference today - a recap
- Gundlach thinks its time to prepare for a Trump presidency
- Hedge funder bearish on CAT - says commodity recovery will be underwhelming
- Trade ideas thread - Thursday 5 May 2016
The AUD was an outperformer today, despite softness in iron ore and rebar in China today. It was helped along by some better data releases;, new home sales bouncing strongly after a decline last month, the monthly retail sales data beating expectations (while price stability perhaps holding back the quarterly result) and the trade deficit falling after exports surprised higher on the month. AUD/USD is stalling ahead of 0.7500 as I update, it'll be a bit of a hurdle for it.
NZD/USD is net higher on the session also, though not to the same extent as the AUD.
USD/JPY was relatively quiet, with a 30 or so point range for the japanese holiday Japan is back in on Firday).
EUR and CHF are both subdued, EUR slightly outperfoming. Cable has edged higher, though only a small range.
Oil prices rose during the session here in Asia - the wildfires disrupting Canadian oil-sands production were cited as a factor, along with intensified fighting in Libya.
Gold is little changed after a small range session for it.
- Nikkei - Japan closed today, will reopen on Friday
- Shanghai -0.27%
- HK -0.45%
- ASX -0.05%