ForexLive Asia FX news wrap: AUD/USD cracks 0.8200 cents – lowest in 4 years via ForexLive

Forex news for Asia trading Wednesday 17 December 2014

• Fitch downgrades European Financial Stability Facility long-term debt
• US API crude oil inventories +1.9m vs -2.77m expected
• New Zealand Q3 BoP Current Account Balance: -5.012bn (expected is -5.3bn)
• RBNZ says exchange rate remains unjustifiable, unsustainable
• China Securities Journal: China State researcher calls for ‘gradual RRR cut
• Australia – Westpac/MI Leading Index for November: -0.06% m/m
• Japan November Trade Balance: Y -891.9bn (vs. expected Y -992.0bn)
• Russian economic and market turmoil … is it contagious?
• Moody's says ‘very comfortable' with New Zealand AAA sovereign rating
• China – High RRR a block to liberalising interest rates says researcher
• ADB cuts Asia growth forecasts from 2014, 2015
• Jiji news reports Japan economy minister Amari wants emergency economic measures by December 27

The Australian dollar was the big mover in the timezone today, down more than 80 points from session highs and near its lows (a few tics above) as I type. The bids at 0.8200 and ahead of there that had held it over the past few days were filled in today, leaving the way open for stop loss selling below the figure to hasten the move down. there was very little bounce until the AUD/USD reached down to just below 0.8150 over the next hour or so. The falling AUD took NZD/USD with it, the kiwi down nearly 80 points from its earlier highs also. There was no particular news about to catlyse the fall in the AUD, just a continued focus on the negatives for it.

EUR/USD drifted a little lower on the day.

GBP/USD, too, was off just a little on the session also.

USD/JPY continued its relatively illiquid (compared to normal) choppy days, falling early to around 116.30 before a good rally to just above 117.00, a fall back of 60 points and then a recovery of all of that before a dip back beow the figure (117.00). Interesting times for the yen indeed. EUR/JPY was choppy too though overall weaker than USD/JPY given the EUR/USD drift lower.

Still to come (no going asleep today):

• UK BOE preview: Bank of England MPC minutes and UK labour market report
• FOMC preview: ‘Considerable time' or bust

posted via ForexLive