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21 Mar 2013
Session Recap: BoJ Kuroda first press conference later today
FXstreet.com (Barcelona) - Another sedative session in Asia, with major currencies barely moving 20 pips on average. The only exception was the Kiwi, up between 50 and 60 pips vs competitors after New Zealand showed upbeat GDP Q4 figures.
There was a bit more of fun on the fundamental front, with news coming from varies angles. Firstly, Japan posted its lowest adj trade balance on record, then China HSBC PMI came better-than-expected.
Last but not least, in Australia, PM Gillard called a leadership ballot, expected to take place at 5.30GMT. There are rumours that if she is defeated by former PM Kevin Rudd, an early election may be announced before the Sept 14 scheduled date.
But the key risk event that market participants will keep an eye on is the first BOJ press conference by Mr. Kuroda at 6pm Tokyo Time, which translates into 9GMT. The topic will be on monetary policy.
Main headlines in Asia
- Kiwi emboldened by rosier NZ GDP print
- Kuroda speech today; market speculating on early easing measures
- BOJ issues confirmation: Kuroda will hold press conference at 6pm Tokyo time
- Moody’s – Japan’s move to join the TPP is a credit positive
- Cyprus weighing alternative funding plans
- Japan's trade balance keeps the red; exports below expectations
- Japan trade data today show the longest run of deficits in more than 30 years
- China HSBC Manufacturing PMI rises to 51.7 in Mar from 50.4
Australian PM Gillard calls leadership ballot at 4.30pm Sydney time (0530GMT)
There was a bit more of fun on the fundamental front, with news coming from varies angles. Firstly, Japan posted its lowest adj trade balance on record, then China HSBC PMI came better-than-expected.
Last but not least, in Australia, PM Gillard called a leadership ballot, expected to take place at 5.30GMT. There are rumours that if she is defeated by former PM Kevin Rudd, an early election may be announced before the Sept 14 scheduled date.
But the key risk event that market participants will keep an eye on is the first BOJ press conference by Mr. Kuroda at 6pm Tokyo Time, which translates into 9GMT. The topic will be on monetary policy.
Main headlines in Asia
- Kiwi emboldened by rosier NZ GDP print
- Kuroda speech today; market speculating on early easing measures
- BOJ issues confirmation: Kuroda will hold press conference at 6pm Tokyo time
- Moody’s – Japan’s move to join the TPP is a credit positive
- Cyprus weighing alternative funding plans
- Japan's trade balance keeps the red; exports below expectations
- Japan trade data today show the longest run of deficits in more than 30 years
- China HSBC Manufacturing PMI rises to 51.7 in Mar from 50.4
Australian PM Gillard calls leadership ballot at 4.30pm Sydney time (0530GMT)