MNI China Daily Summary: Friday, February 3

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(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

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AUD

AUDUSD Lower Again In Early Trading On Weaker Commodities

NZD

Pressured In Early Trade

JPY

Falls On Amamiya For BoJ Governor Report

MNI

Coming up in the Asia-Pac session on Monday

ASIA

Coming up in the Asia-Pac session on Monday

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A$ Range Bound, Mixed On Crosses

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The AUDUSD has been range trading today and is now around 0.6500, slightly down on NY closing levels. The range for the session has been 0.6485/0.6518. The weaker-than-expected Chinese inflation data didn’t cause many problems for the AUD, with stimulus hopes still alive, although this hasn’t kept China equities in positive territory (see below).

  • AUD has made some slight gains against NZD rising to 1.0930 after the 1.09 overnight low. AUDJPY has zig-zagged around 94.60.
  • Australian equities are performing strongly today with the S&P/ASX 200 up 0.7%. US equity e-minis are also up slightly but the Nikkei, CSI 300 and Hang Seng are lower, whereas most of Asia is higher.
  • Australia’s main commodities also looked through the Chinese data with iron ore still priced around $89, copper range trading but gold about 2% higher. Oil prices are slightly lower but are also range bound at $88.50-$89.50 as tight supply balances demand fears.
  • Later RBA Deputy Governor Bullock speaks (20:05 AEDT) on “The Economic Outlook”. The event can be viewed here.
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The AUDUSD has been range trading today and is now around 0.6500, slightly down on NY closing levels. The range for the session has been 0.6485/0.6518. The weaker-than-expected Chinese inflation data didn’t cause many problems for the AUD, with stimulus hopes still alive, although this hasn’t kept China equities in positive territory (see below).

  • AUD has made some slight gains against NZD rising to 1.0930 after the 1.09 overnight low. AUDJPY has zig-zagged around 94.60.
  • Australian equities are performing strongly today with the S&P/ASX 200 up 0.7%. US equity e-minis are also up slightly but the Nikkei, CSI 300 and Hang Seng are lower, whereas most of Asia is higher.
  • Australia’s main commodities also looked through the Chinese data with iron ore still priced around $89, copper range trading but gold about 2% higher. Oil prices are slightly lower but are also range bound at $88.50-$89.50 as tight supply balances demand fears.
  • Later RBA Deputy Governor Bullock speaks (20:05 AEDT) on “The Economic Outlook”. The event can be viewed here.