Asia Open Briefing - 17/09/2014
Global Markets: S&P 500 up 0.90 %, DJIA gained 0.70 %. Gold at $1237 (+0.15 %), Silver at $18.74 (+0.60 %), Crude Oil at $93.75 (+1.90 %). US 10 year yield at 2.58.
FX Overview: It turned out to be an interesting trading session after all. The PPI data was leaked a bit ahead of the scheduled release time, but was an non-event. Strong manufacturing sales data out of Canada got some attention however, and the CAD strengthened on this. Later, WSJ's Fed watcher Jon Hilsenrath did a webcast where he said that he thinks the Fed will keep the words "considerable time" (referring to the time period rates will remain low after QE has ended) in it's next statement. This inspired some USD position covering ahead of the FOMC tomorrow evening. Another theme during the NY session was the SINA report that the PBoC will provide 500 billion Yuan to the country's 5 top banks through their short-term liquidity facility. This sparked a rally in the Australian Dollar, which suffered yesterday after weak Chinese data over the weekend, and added pressure on the US Dollar. It will certainly be interesting to see how Asia will react to those two stories. Aside from that, we will have New Zealand Consumer Sentiment data at 2200 GMT and the Current Account figures at 2245 GMT.
Full Story: http://milancutkovic.com/2014/09/16/...fing-17092014/
Global Markets: S&P 500 up 0.90 %, DJIA gained 0.70 %. Gold at $1237 (+0.15 %), Silver at $18.74 (+0.60 %), Crude Oil at $93.75 (+1.90 %). US 10 year yield at 2.58.
FX Overview: It turned out to be an interesting trading session after all. The PPI data was leaked a bit ahead of the scheduled release time, but was an non-event. Strong manufacturing sales data out of Canada got some attention however, and the CAD strengthened on this. Later, WSJ's Fed watcher Jon Hilsenrath did a webcast where he said that he thinks the Fed will keep the words "considerable time" (referring to the time period rates will remain low after QE has ended) in it's next statement. This inspired some USD position covering ahead of the FOMC tomorrow evening. Another theme during the NY session was the SINA report that the PBoC will provide 500 billion Yuan to the country's 5 top banks through their short-term liquidity facility. This sparked a rally in the Australian Dollar, which suffered yesterday after weak Chinese data over the weekend, and added pressure on the US Dollar. It will certainly be interesting to see how Asia will react to those two stories. Aside from that, we will have New Zealand Consumer Sentiment data at 2200 GMT and the Current Account figures at 2245 GMT.
Full Story: http://milancutkovic.com/2014/09/16/...fing-17092014/
FXWW Team