Forex news for Asia trading Thursday 25 August 2016
- More on the PBOC , have "urged banks to spread out the tenors of their loan"
- ANZ on Yellen's speech at Jackson Hole
- Asia arvo reads: Sell oil at $50, China economy OK, China debt like pre-GFC US
- PBOC met with banks on Wednesday to discuss liquidity management
- The PBOC and the reintroduction of 14-day repos - what's up with that?
- ANZ on AUD/GBP - looks set to weaken on a tactical basis
- PBOC sets yuan reference rate for today at 6.6602 (vs. yesterday at 6.6420)
- USD a little soft as Asia settles in for the morning
- Jackson Hole symposium - agenda of speakers coming up soon!
- Japan PPI Services (July): +0.4% y/y (expected +0.1%, prior +0.2%)
- BOJ's Kuroda at Jackson Hole: "Pass me another drink, would ya?"
- Machine learning - can it help traders - check this out
- Australian Treasurer Morrison to speak today - here's what he's gonna say
- Japan press: "Japan preparing first shot of stimulus under extra budget"
- Trade ideas thread - Thursday 25 August 2016
- NZ - Fonterra boosts 2016/2017 milk price forecast by 50c
Another session of light news & data flow, and limited ranges in the currencies.
NZD and AUD traded higher, NZD helped by some Fonterra news early (see bullets above) but ranges for both were not large.
Cable traded up 40 or so points in early Tokyo trade but has since given the whole lot back. There was little fresh news to drive the moves. EUR/USD is a tiny bit higher o the session, USD/CHF is net very little changed.
USD/JPY moved higher in early Tokyo, tipping briefly above 100.60 and has since dropped back 20 or so points.
The People's Bank of China injected funds again today via 14-day reverse repos, though the policy intention is perhaps unclear (see bullets above for more on this, it does appear the bank is encouraging commercial banks to lengthen loan terms, though not everyone agrees this is their intention).
- Nikkei +0.05%
- Shanghai -1.10% (a decent size drop, confusion surrounding PBOC policy not helping stocks in China, it appears further easing is not presently in sight)
- HK +0.05%
- ASX -0.09%
More (but not FX):
- Had enough China, oil, TA, FX, whatever? Here's Harley's new engine ... 8 valve twin!
- China press: Australian finds huge gold nugget
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