• Foreign exchange market. Asian session: the New Zealand dollar rose against the U.S. dollar after the better-than-expected Chinese economic data

Market news

21 October 2014

Foreign exchange market. Asian session: the New Zealand dollar rose against the U.S. dollar after the better-than-expected Chinese economic data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:30 Australia RBA Monetary Policy Statement

02:00 China Retail Sales y/y September +11.9% +11.8% +11.6%

02:00 China Industrial Production y/y September +6.9% +7.5% +8.0%

02:00 China Fixed Asset Investment September +16.5% +16.2% +16.1%

02:00 China GDP y/y Quarter III +7.5% +7.2% +7.3%

02:00 New Zealand Credit Card Spending September +4.2% 4.4%

04:30 Japan All Industry Activity Index, m/m August -0.4% -0.3% -0.1%

06:00 Switzerland Trade Balance September 1.33 Revised From 1.39 2.43 2.45

08:30 United Kingdom PSNB, bln September 10.9 9.3 11.8

08:55 Australia RBA Assist Gov Lowe Speaks

The U.S. dollar traded lower against the most major currencies. No major economic reports were released in the U.S. yesterday.

The New Zealand dollar rose against the U.S. dollar after the better-than-expected Chinese economic data. China's gross domestic product increased 7.3% in the third quarter, exceeding expectations for a 7.2% rise, after a 7.5% gain in the second quarter.

China's industrial production climbed 8.0% in September, beating forecasts of a 7.5% increase, after a 6.9% gain in August.

International visitor numbers in New Zealand climbed 1.2% in September, after a 3.0% drop in August.

Credit card spending in New Zealand increased 4.4% September, after a 4.2% gain in August.

The Australian dollar increased against the U.S. dollar after the better-than-expected Chinese economic data and the Reserve Bank of Australia's minutes of the monetary policy meeting.

The Reserve Bank of Australia (RBA) said nothing new in its minutes of the monetary policy meeting. The RBA reiterated that the Aussie "remained high by historical standards".

The Japanese yen rose against the U.S. dollar after Japanese stocks declined.

Japan's all industry activity index decreased 0.1% in August, beating expectations for a 0.3% drop, after 0.4% fall in July. July's figure was revised down from a 0.2% decline.

EUR/USD: the currency pair rose to $1.2824

GBP/USD: the currency pair increased to $1.6183

USD/JPY: the currency pair fell to Y106.24

The most important news that are expected (GMT0):

14:00 U.S. Existing Home Sales September 5.05 5.11

23:00 Australia Conference Board Australia Leading Index August +0.5%

23:30 Australia Leading Index September -0.1%

23:50 Japan Adjusted Merchandise Trade Balance, bln September -924.4 -910.0

Market Focus
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