Forex news for Asia trading on Thursday 10 June 2021
- PBOC Governor Yi Gang says sees China's 2021 consumer inflation below 2%
- ECB monetary policy meeting preview - no material changes to monetary policy
- Australian PM Morrison says will refer China tariffs to WTO
- US CPI data due Thursday 10 June 2021 - preview
- PBOC sets USD/ CNY reference rate for today at 6.3972 (vs. yesterday at 6.3956)
- Commerce ministers of the US and China spoke on the phone, agreed to move forward
- Australia survey of consumer inflation expectations, for June: 4.4% (prior 3.5%)
- El Salvador embracing Bitcoin still helping it along
- BOJ comments on PPI - global recovery pushing prices up
- Keystone XL pipeline now officially dead - company confirms termination of the project
- US Congressman Yarmuth says a bipartisan infrastructure deal looks unrealistic
- Japan PPI for May +0.7% m/m (expected 0.5%)
- US Senator Warren wants crypto regulation - more info (and video link)
- JBS paid an $11 million ransom in bitcoin re cyber attack
- UK data - RICS monthly house price balance for May +83 (expected +77)
- ANZ's latest call on RBA rate hikes - beginning in H2 2023
- New Zealand - Card Spending for May. Retail and total spending both rise.
- ICYMI - Japan considering a major economic stimulus package soon, before 'snap' election in September
- Moderna plans to expand manufacturing capability, aims to supply 3bn doses of its vaccine next year
- Coinbase are expanding the ability of US customers to borrow cash using Bitcoin as collateral
- More detail on the G7 draft Communique (and, UK plan to end the pandemic)
- The UK is considering abolishing tariffs for hybrid & electric cars
- Trade ideas thread - Thursday 10 June 2021
- A Cryptocurrency ICYMI - Another province in China orders shutdown of Bitcoin mining
A mixed set of results across major forex rates today with declines (very small) for EUR/USD and USD/JPY resulting in EUR/JPY being a loser (a small range only for this too). Cable is ever so slightly higher, as is kiwi and USD/CAD.
News flow was light and did not impact FX rates to much extent at all. The same for data flow.
China's Commerce Minister and his US counterpart spoke on a call, the Chinese readout of the call was that the two sought to further cooperate on trade, investment, and on settling their differences effectively. There was no game-changing announcement on the call. The yuan moved higher after news of the call hit. While on China, the Australian Prime Minister says Chinese tariffs on Australian wine are being referred to the World Trade Organisation.
US Senator Warred did a Bloomberg TV interview in which she expressed a desire for crypto regulation. This did not blunt the BTC rally too much though.
Regional equities (Japan, China, Australia) added on some gains.
BTC rally:
