Economic Calendar Asia Session


The Chinese central bank, PBOC, announced a 50 basis points cut in reserve requirements for qualifying banks. The CNY has fixed lower by over two big figures since Friday and some feel they are signaling an end to Yuan depreciation. I think it’s too early to tell but my feeling is that the PBOC wants to keep the speculators guessing by generating more volatility in the currency as compared to previous years. Technically, the UsdCnh has stabilized and is trading in a consolidation pattern. The PBOC will not fly in the face of any overall USD trend but will tend to go along with the rest of the market, so it’s back to getting clues from the numbers themselves. Tonight we see Chinese CPI and PPI, looking back at six months the data does not impress as most releases have been misses.

 

Australia will be reporting on home loans and business confidence. The Aussie has been very well bid recently against its peers. The AudUsd stands at a level where I went short a couple of weeks back but I’m not as tempted this time as it looks like it wants to test the .9400 figure area and any “bad” number will probably be seen as a buying opportunity in this environment. I know the RBA will not be happy but other than talk the aussie down I don’t see what they can do.

 

 

Time

Cur.

Event

Forecast

Previous

18:45

  NZD

Manufacturing Sales (QoQ)

 

6.3%

 

19:01

  GBP

BRC Retail Sales Monitor (YoY)

1.6%

4.2%

 

19:50

  JPY

M2 Money Stock (YoY)

3.2%

3.4%

 

19:50

  JPY

Tertiary Industry Activity Index (MoM)

-3.3%

2.4%

 

21:30

  AUD

ANZ Job Advertisements (MoM)

 

2.2%

 

21:30

  AUD

Home Loans (MoM)

0.2%

-0.9%

 

21:30

  AUD

NAB Business Confidence

 

6

 

21:30

  AUD

NAB Business Survey

 

0

 

21:30

  CNY

Chinese CPI (YoY)

2.4%

1.8%

 

21:30

  CNY

Chinese CPI (MoM)

-0.1%

-0.3%

 

21:30

  CNY

Chinese PPI (YoY)

-1.5%

-2.0%

 



Categories: News and Commentary

Tags: , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: