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11 Dec 2017

Forex Today: NZD rallies hard on RBNZ news, a quiet session ahead

The Kiwi was the big mover/ gainer in Asia, kicking-off the week on solid footing on the announcement of the new RBNZ Governor – Orr. Its OZ neighbor followed suit and gained 0.20% to trade near 0.7525 levels, having ignored poor Chinese CPI data. Meanwhile, both the EUR and GBP remained better bid amid NFP-led broad-based US dollar weakness. The Yen was on offers amid positive Asian equities, with moderate risk-on prevalent across the financial markets.

Main topics in Asia

CBOE Bitcoin futures launch this Sunday

The Bitcoin market is about to hit yet another milestone this Sunday when the CBOE launches the first Bitcoin futures contract.

Japan big manufacturers' mood improves in October-December: Govt survey

The business survey index (BSI) of sentiment at large manufacturers stood at plus 9.7, up from plus 9.4 in July-September.

BOJ to cut ETF purchases - Bloomberg

The Bank of Japan (BOJ) cut its annual buying target for domestic exchange-traded funds (ETF) by as much as a third from the current JPY 6 trillion says a Bloomberg report released today.

NZIER Consensus Forecasts shows softer growth outlook for New Zealand

NZIER survey of economists shows expectations of slower growth for the next few years in New Zealand.

RBNZ’s Spencer: Bitcoin ‘looks remarkably like a bubble forming to me’

The Reserve Bank of New Zealand (RBNZ) Governor Grant Spencer said in an interview with TVNZ broadcast on Sunday, Bitcoin is a bubble.

NZ Govt appoints Adrian Orr as the new RBNZ Governor

Reuters reporting the latest headlines citing that the New Zealand government appointed Adrian Orr as the new Reserve Bank of New Zealand (RBNZ) Governor.

Key Focus ahead

Just like the Asian session, the European session also has nothing of note to report, in terms of the macroeconomic releases, with the traders poised for a quiet start to an eventful week ahead. Meanwhile, the US docket offers the second-liner JOLTS job openings data, as the dust settles over the payrolls aftermath.

EUR/USD - Bullish doji reversal?

Friday's doji candle on the EUR/USD and the failure on the part of the bears to keep the spot below 50-day MA signals the bearish move from the recent high of 1.1961 may have run out of steam.

GBP/USD: Further downside in play ahead of a Big week?

The rebound in the GBP/USD pair lost legs just ahead of 1.34 handle, with the bulls now on the defensive awaiting fresh impetus from the plenty of risk events lined up in the week ahead.

Source: US President Trump to speak on tax this Wednesday -BBG

Bloomberg quoted a person familiar with the matter, as citing that the US President Donald Trump will deliver closing arguments for the proposed Republican tax plan on Wednesday.

‘FOMC almost certain to deliver the third rate hike of 2017’ – Goldman Sachs

Goldman Sachs’ Analysts came out with a brief preview on their expectations on the final FOMC meeting of this year, with a rate hike widely priced-in by the markets.

‘Short-term pain seen for gold’ - UBS

Bloomberg reported comments from Dominic Schnider, Head of Commodity & APAC FX, UBS Wealth Management, expressing his view on gold in 2018.

 

Dec 11, 2017

NZ: Adrian Orr to be RBNZ Governor – TDS

According to Annette Beacher, Chief Asia-Pac Macro Strategist at TDS, Adrian Orr as RBNZ Governor is an excellent choice as he is a person considered
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Dec 11, 2017

Japan Machine Tool Orders (YoY) fell from previous 49.9% to 46.9% in November

Japan Machine Tool Orders (YoY) fell from previous 49.9% to 46.9% in November
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