Forex news for Asia trading Thursday 10 November 2016
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– In swamp-draining news:
USD/JPY traded higher initially, toward (but not reaching) 106 before it started to slip and continued down to (briefly) under 105. There was data and news but the moves were more related to flow adjustments following Tuesday’s wild moves. On the data front, we did get core machinery orders (September). This is a proxy for capital expenditure in coming months, and it showed down again (m/m) in the figures today (August was lower also), while the y/y chopped much lower from the August result, though it was a beat on expectations.
ForexLive Asia FX news: PBOC sets CNY against USD at lowest in 6 years (‘Hi Donald!’)
