Forex News
Asia today: It’s wait-and-see for the US non-farm payroll report
Asia was on Non-farm payroll alert Friday with activity confining currency pairs to tight ranges during the session, though with a slight risk-off bias.
PBOC joins ECB and BoE easing fest, but EUR and risk are wilting
The Euro is was very weak on the ECB cut, even if it was in line with expectations. Meanwhile, the PBOC joined the easing action with a rate cut of its own – Aussie tried to jump on the news, but should it?
ECB: Policy interest rates at new lows
OUTCOME OF TODAY’S ECB MEETING: KEY ECB INTEREST RATES: *All ECB policy rates down by 25bps * Unanimous decision
Bank of England expands the Asset Purchase Facility
As SEB and the market expected, BOE left rates on hold today at 0.5% but chose to expand the Asset Purchases Facility by GBP 50bn to 375bn.
Asia today: AUD unmoved despite another set of positive data
Despite better-than-expected Australian trade numbers for May, AUD was virtually unmoved in the Asian session Thursday. JPY, meanwhile, was under a little pressure as equity markets opened in the red across the region and BOJ reiterated it would pursue powerful easing.
3 numbers to watch: Riksbank rate, PMI Services, Retail Sales
The European Central Bank’s rate decision and Mario Draghi’s press conference are moving closer as is the US Employment report, but before these two major events we have a few European ones to keep us awake on this otherwise rather quite day, due to the US celebrating Independence Day.
Asia today: AUD higher again after stronger retail sales data
AUD pushed higher across the board again Wednesday after retail sales and purchasing manager data came in firm, though the Aussie wasn’t aggressively higher given bank bill yields only rose 2 BP.
Asia FX Rundown
News and markets It’s Independence Day in the US and the markets are quiet. We’re a bit thin on news as well. The main talk has been of the banks: Bob Diamond faces a grilling by the Treasury select committee today and everyone wants to know if (or how badly) he’s going to swipe at […]
Another day of waiting for trend confirmation
Another day of indecision today as the market nervously mulls the upcoming ECB meeting and whether the reacting to the latest news is an exercise in futility.
Asia today: No change from RBA; statement neutral
The RBA kept rates unchanged at 3.5 percent Tuesday and the accompanying statement was as neutral as neutral could be. Policy is appropriate, no change in inflation outlook and consistent with target.
Europhoria fades a bit as a new week dawns
Last week’s EU summit did offer surprises – but also poses questions. We’re also back to the grind of a fresh batch of ugly manufacturing data around the world, reminding us of the weak global growth predicament.
UK manufacturing activity remains weak
The manufacturing PMI improved slightly in June, although it was consistent with falling activity for a second month running (see chart). The headline index rose by 2.7 points to 48.6 (consensus: 46.5, Barclays: 47.0).