ForexLive Asia-Pacific FX news wrap: Aussie jobs report barely creates a ripple

• Federal Reserve Bank of New York President John Williams speaks on Thursday
• China’s SAFE (forex regulator) says it’ll severely crack down on illegal FX activities
• ANZ forecast for Brent crude oil to USD95/bbl (12 month horizon)
• Australian dollar hasn’t moved much on the jobs data – here’s when the next CPI is due
• Two speakers from the Bank of Canada on Thursday: Gov. Macklem and Dep. Kozicki
• Chinese commodity trader’s US$20m shipment of Russian copper gone missing: fraud questions
• Australian May unemployment rate 4.0% (vs. 4.0% expected)
• PBOC sets USD/ CNY reference rate for today at 7.1122 (vs. estimate at 7.2384)
• Citi sees a meaningful surplus of oil ahead, Brent to as low as USD55 /bbl
• FedEx to cut up to 2,000 jobs in Europe – cost reductions in weak demand environment
• Japan’s Q2 Business Survey Index (BSI): Large Manufacturing -1.0% (prior -6.7%)
• ICYMI: Russia’s central bank stopped trade in USD & EUR on Moscow Ex, HKD now stopped also
• Australian household spending in May +1.1% m/m (prior -1%%) and +4.3% y/y (prior +2.7%)
• Morgan Stanley on Biden vs. Trump – the pros and cons
• ICYMI – ECB’s Schnabel spoke on Wednesday: “last mile” of disinflation is proving bumpy
• New Zealand Card Sales for May: Retail -1.1% m/m and -1.6% y/y
• Timing the Fed rate cut, unhelpful edition: ‘it is what it is’
• Trump wants all remaining Bitcoin “to be made in the US”. Not as ludicrous as it sounds?
• Goldman Sachs on May CPI – “good news, but we will need more of it” – “may” be September
• The BoJ meet today and tomorrow – ‘reduction of bond buys’ chatter reignited on Wednesday
• China’s vehicle sales recovered in May, government subsidies cited as helping
• New US sanctions against Russia to shut down trading in USD and EUR on Moscow exchange
• Trade ideas thread – Thursday, 13 June, insightful charts, technical analysis, ideas
• JP Morgan senior exec says the Fed is unlikely to cut, will delay beyond mkt expectations
• Forexlive Americas FX news wrap: CPI gives and Powell takes
• Bank of Canada Governor Macklem says not close to limit of divergence with Fed

After
the US CPI data, then the Federal Open Market Committee (FOMC)
Statement accompanied by the updated Summary of Economic Projections
(dot plot), and then Federal Reserve Chair Powell’s press conference it was a session of digestion for Asia FX traders.

If
you missed any of that info in the paragraph above check out the US
session wrap, linked above.

As
for fresh news and data flow here in Asia it was light. We did have
the Australian employment report for May, which showed a steady
unemployment rate and a much better than expected gain for jobs. More
in the points above on this.

AUD/USD
had a minor pop on the data but it soon subsided. EUR, GBP, NZD, CAD,
CHF all lost a few points against the big dollar also.

USD/JPY
edged higher, its just over 157.00 as I post. The Bank of Japan
policy meeting is underway, we get the result tomorrow. Persistent
chatter is that the BoJ will consider trimming back its JGB buying at
this meeting.

USD/JPY back @157.00

This article was written by Eamonn Sheridan at www.forexlive.com.