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Dec 20, 2014

03:07 PM EDT

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Market Analysis

Home » Technical Analysis » ForexLive » Central bank activity due in the Asian timezone today – a lot of it …

Central bank activity due in the Asian timezone today – a lot of it …

At 2235GMT – Introductory comments by Philip Lowe, Deputy Governor of the Reserve Bank of Australia (RBA), to the Centre for International Finance and Regulation (CIFR) conference in Sydney. Lowe gave a speech yesterday, but it was in the Q&A that followed that he had some thing to say about the currency

2300GMT –  President of the Federal Reserve Bank of Philadelphia Plosser speaks on the economic outlook and monetary policy in New York. he’ll speak separately to reporters following.

0030GMT – the RBA release their “Financial Stability Review”

0200GMT – The Reserve Bank of New Zealand publishes data on low-deposit home lending, the market will be looking at this for information about how successful their macroprudential policies have been.

0330GMT – RBA governor, Glenn Stevens gives a speech titled “The Economic Outlook” at Annual Credit Suisse Asian Investment Conference in Hong Kong

0600GMT – Glenn Stevens again, participating in a panel discussion at the Credit Suisse Asian Investment Conference


The main event is Stevens’ speech at 0330GMT – given the new-found bounce in the AUD the market is expecting him to ‘jawbone’ it lower, and I’m sure he’ll try to do just that. Though, it remains to be seen how aggressive his talk will be. I’ve been noting a good bit of talk in the market this last week or so about the prospects for Australian rate hikes. given the RBA has switched to a ‘neutral’ stance and has said a number of times that this will be for an ‘extended period’, then the very least Steven’s can do today, and the easy thing, is to knock this hike speculation on the head for the time being. But, again, it remains to be seen how aggressive his wording will be.

Stevens is then back again at 0600GMT for, I suspect, more of the same.

I’ll be back with some levels to watch for the AUD soon.

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