AUD/USD: Awaiting CNY stability - ANZ

FXStreet (Delhi) – Research Team at ANZ, notes that China’s PBoC set their daily fix much weaker than market expectations yesterday and pressure on AUD and emerging market currencies persisted.

Key Quotes

“Market focus will remain on how CNY performs in this USD strengthening environment. The FOMC Minutes did not derail the strong USD story and US data were supportive overnight. We expect today’s Australian trade release to print a wider deficit and building approvals to underperform market expectations. This may put further downside pressure on the AUD.

Expected range: 0.7000 – 0.7100

Jan 7, 2016

AUD: Online sales rose 0.7 percent in November 2015 - NAB

Alan Oster, Chief Economist at NAB, notes that the latest seasonally adjusted NAB online retail sales index shows sales grew 0.7% in November, an improvement on the contraction in October (-0.6%).

Yuan devaluation again! Its Déjà vu for Asia - Yen on the rise

Today’s Asian session seems to be a replica of exactly what happened on Wednesday after the Chinese central bank devalued yuan further, although the local stock markets reacted negatively this time. Hence, risk-aversion remains the main theme in Asia this Thursday, with the yen emerging the indisputable winner and the Antipodes heavily dumped on weaker oil and iron-ore prices.