ForexLive Asia FX news wrap: RBNZ on hold again

Forex news for Asia trading Thursday 28 September, 2017

  • S&P revises Dalian Wanda Commercial Properties Co. Ltd. to rating ‘BB’ from ‘BBB-‘
  • AUD gets a bit of a hit
  • NZD still ticking higher (AUD/NZD interest)
  • FX option expiries for 28 September 2017
  • Japan press reports leverage limits for FX traders may be lowered
  • Yen traders — heads up for rising 10-year JGB yields
  • RBC experimenting with blockchain to help move payments between its US % Canadian banks
  • More from Fed’s Rosengren: Scope for Fed to move rates slowly due to low inflation
  • UK data on car output, drop again
  • UK PM May will be speaking at the Bank of England conference Thursday
  • Fed’s Rosengren — supports regular and gradual US rate rises
  • CBA on the Australian dollar and RBA Debelle speech coming up
  • ANZ monthly FX outlook — like USD/Yen and yen crosses (forecasts)
  • Japanese firms are paying more for workers, just not how you think
  • BoE’s Haldane: An interest rate rise would be a «good news story»
  • Trade ideas thread — Thursday 28 September 2017
  • German fin min Schauble — set to resign?
  • US stocks love Trump/tax reform. Nasdaq and small caps outperform
  • RBNZ announce no change to cash rate, as expected

The Reserve Bank of New Zealand  kicked off the day with an ‘on hold’ cash rate decision and a statement that was little changed (a tiny bit more dovish, but the nuance was barely noticeable). NZD/USD dribbled just a few points lower before it added on 30-odd points — AUD/NZD selling was a driver — and as I update its all the way back to its session low for a score as the most active of the majors here today.

AUD/USD sat little changed for much of the Australian morning but eventually dropped away; lower iron ore a weight again (lower commodities generally in China today). We got one (little watched) data point from Australia today, showing a huge surge in job vacancies (up 6% q/q and 154% y/y), which augurs well for continued employment growth and unemployment rate fall. As I update AUD/USD is on its session low circa 0.7820.

USD/JPY maintained a 20 or so point range (112.70/90 ish) for much of the day here with little to drive it. Japanese parliament was officially dissolved today to bring on the October 22 election. Abe will address media at 0800GMT. He is in full baby-kissing mode now so his comments will be discounted accordingly.

There were some small signs of further USD strength today; EUR/USD is down a few points, as is cable. USD/CHF up a few. USD/CAD continued a little higher, continuing on its Polozing from the US day.

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