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28 Mar 2013
Session Recap: Chinese banks drag equities lower on tightening policy fears; Kuroda stands by
FXstreet.com (Barcelona) - Asian markets today were dominated on massive Chinese equity markets sell-off, Shanghai down -2.53%, and Hong-Kong -1.27%, while Tokyo -1.15%, and Australian ASX -0.57%, which has dragged AUD/USD lower with it. Possible tightening policy near from PBoC has sparkled fears in credit markets.
At the same time Kuroda had a speech before Japanese parliament, not giving many more news on next policy measures, but just repeating his usual speech, and even sending some warning signs, following worst retail sales data in Japan since late 2011. USD/JPY printed fresh session lows few pips below the 94.00 handle.
At the same time and despite the risk aversion seen in Asia, USD showed weakness against Euro, Pound and Yen, while Oil holds steady at fresh 1-month highs above the $96 mark. Markets are also expectant on first day for Cyprus where commercials banks will open doors after 12 consecutive days being closed.
New Zealand February building permits +1.9% m/m (vs. +3.0% expected)
Japan overnight press: Abe to decide on sales tax hike in fall
Forex: EUR/USD continues with its south route as Cyprus great bank opening comes
Forex: NZD/USD posts first daily decline in a week
Overnight press: North Korea cuts another phone line with South
Japan press reports the LDP has drafted a proposal to revise the BOJ law
Forex: EUR/JPY stalls above 120.00 for the moment
Forex: AUD/JPY remains above 98.00
Australia March TD/MI trimmed mean inflation gauge +0.1% m/m, +1.8% y/y
Japan Feb Retail Trade (YoY) decreases to -2.3% vs -1.1%
Japan Foreign bond investment declines to ¥-975.2B in Mar 22 from ¥-495.1B
Forex Flash: Oil forming a very bearish pattern - FXA
Kuroda: uncertainty over Japan economy still high
Forex Flash: RBA to hold rates steady next – NAB
Shanghai composite falling hard – not a positive for the AUD
Forex: EUR/AUD keeps pushing below 1.2250
Fall on Chinese banking stocks related to an article in the WSJ
Forex: USD/JPY dips to 94.10 lows post-Kuroda
Forex: AUD/USD turns bearish as stocks decline in Asia
Moody’s affirms Portugal’s Ba3 rating, negative outlook
Chinese equity markets now almost 3.5% lower
At the same time Kuroda had a speech before Japanese parliament, not giving many more news on next policy measures, but just repeating his usual speech, and even sending some warning signs, following worst retail sales data in Japan since late 2011. USD/JPY printed fresh session lows few pips below the 94.00 handle.
At the same time and despite the risk aversion seen in Asia, USD showed weakness against Euro, Pound and Yen, while Oil holds steady at fresh 1-month highs above the $96 mark. Markets are also expectant on first day for Cyprus where commercials banks will open doors after 12 consecutive days being closed.
New Zealand February building permits +1.9% m/m (vs. +3.0% expected)
Japan overnight press: Abe to decide on sales tax hike in fall
Forex: EUR/USD continues with its south route as Cyprus great bank opening comes
Forex: NZD/USD posts first daily decline in a week
Overnight press: North Korea cuts another phone line with South
Japan press reports the LDP has drafted a proposal to revise the BOJ law
Forex: EUR/JPY stalls above 120.00 for the moment
Forex: AUD/JPY remains above 98.00
Australia March TD/MI trimmed mean inflation gauge +0.1% m/m, +1.8% y/y
Japan Feb Retail Trade (YoY) decreases to -2.3% vs -1.1%
Japan Foreign bond investment declines to ¥-975.2B in Mar 22 from ¥-495.1B
Forex Flash: Oil forming a very bearish pattern - FXA
Kuroda: uncertainty over Japan economy still high
Forex Flash: RBA to hold rates steady next – NAB
Shanghai composite falling hard – not a positive for the AUD
Forex: EUR/AUD keeps pushing below 1.2250
Fall on Chinese banking stocks related to an article in the WSJ
Forex: USD/JPY dips to 94.10 lows post-Kuroda
Forex: AUD/USD turns bearish as stocks decline in Asia
Moody’s affirms Portugal’s Ba3 rating, negative outlook
Chinese equity markets now almost 3.5% lower