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Hong Kong Financial Secretary Chan comments: Bolding mine above.  For bank trade ideas, check out eFX Plus

Normally the full text of central banker speeches is perfect for those with insomnia. Not this one. Its a speech given by Andrew Hauser, Executive Director, Markets, at the Bank of England: 

People's Bank of China   PBOC injects 150bn yuan via 7-day reverse repos – 300bn RRs mature today … thus net drain of 150bn yuan – for the week as a while the POBOC have drained 450bn yuan 

<p>US non-farm payrolls report will be a major focus for today. Markets are expecting NFP to show another -8m job less in May. Unemployment rate is expected to jump further up from 14.7% to 19.6%. Other employment data were not too promising. ADP report showed -2.76m contraction in private sector jobs. ISM manufacturing employment improved [&

<p>UK GfK Consumer Confidence dropped to -36 in May, down from -34. That’s the lowest level since January 2009, and not far from record low of -39 touched in July 2008. GfK’s client strategy director Joe Staton said: “with no sign of a rapid V-shaped bounce-back on the cards, consumers remain pessimistic about the state [&he

<p>Australia AiG Performance of Services Index rose to 31.6 in May, up from 27.1. While the data indicates slower pace of contraction, it’s still the second lowest result on record. In trend term, the index dropped -3.4 pts to 30.8, with declines across all services sectors. AiG also noted, “heavy restrictions on activity in respo

<p>Dollar and Yen remain the overwhelmingly weakest ones for the week even though risk appetite seems to be taking a breather again. In particular, the greenback suffered steep selling after Euro bulls cheered ECB’s PEPP expansion. The common currency is one of the strongest one this week, just next to Kiwi and Aussie. Non-farm payroll

<p>ECB’s increase in stimulus was slightly more than we had anticipated. The move was mainly driven by the sharp downgrade in inflation outlook. The decision has sent a strong message to the market that the central bank is “undeterred” by German constitutional court’s ruling and will continue to adjust the monetary policy as appropriate. At [

<p>Market movers today The key release today is the US jobs report for May due out 14:30 CEST. We have pencilled in an employment drop of 10 million but given the ‘strong’ private sector ADP jobs report earlier this week, which ‘only’ showed a drop of 2.7 million, we may be too pessimistic. Nonetheless, we […]

<p>General Trend: Iron/Steel, Transportation and Financial companies are among the gainers in Japan, retail sector lags Japanese airlines outperform, Japan may ease restrictions on business travel Toshiba reported FY earnings and guidance Decliners in Australia include Consumer Discretionary and Telecom companies, financials track the earlier