Forex and Bitcoin news for Asia trading Monday 10 September 2018
- RBA's Bullock: Sees vulnerability from high household debt
- Nomura nominates the seven countries at risk of exchange rate crises
- BOJ won’t be making another policy tweak any time soon says a former Bank official
- More from Japan PM Abe - wants to increase consumption tax as planned
- George Soros says he sees new Global Financial Crisis brewing, EU under threat
- China's State Council Committee on Financial Stability on Black Swan events
- China inflation data for August: CPI comes in at 2.3% y/y (vs. expected 2.1%)
- Japan PM Abe says trade fights do not benefit any country
- NZD outlook - 'continue to trade on the back foot this week'
- PBOC sets USD/ CNY mid-point today at 6.8389 (vs. Friday at 6.8212)
- Japan press on BOJ Gov Kuroda comments, need to keep easing for some time yet
- Chart: "EUR/USD could be forming an inverse Head and Shoulders" (Elliot Wave)
- NZ - growth forecasts lower - NZD forecast a little lower also
- Japan final Q2 GDP data out now: 0.7% q/q (prelim was 0.5%)
- BusinessNZ considering taking government's labour law to international court
- NZ data Manufacturing sales volume fall in Q2
- SEK update as "Sweden Headed for Political Gridlock After Inconclusive Election"
- FT reports that the EU is ready to give Barnier mandate to close Brexit deal
- More news for cryptocurrency - US SEC suspends bitcoin tracker
- Friday's NFP in the US was a strong result - responses
- Anticipation in trading and weekend China data ('record trade surplus with US')
- Trade ideas thread - Monday 10 September 2018
Weekend:
- Do these comments sound like someone who is about to back down on tariffs?
- Bitcoin rebounds 3% as it makes a stand ahead of $6000 in big week ahead for crypto
- Video: It's all about anticipation...
- New to trading? Look for the signals of success
- Another sad day for music as Mac Miller dies of drug overdose
Major FX rates traded narrow ranges to open Monday and the new week here in Asia.
The final read out on Japanese Q2 GDP was announced today, with strong economic growth recorded, higher than was announced in the preliminary result published back in August. Surging capex (increasing at its fastest since the Jan quarter of 2015) was a big contributor, sending y/y growth to 3%, its highest since since 2016. Do keep in mind the data was for April to June, prior to the trade war ramping up, a note of caution ahead.
As is usually the case for Japanese data, the yen was barely changed in its wake, and indeed as the headline to the post says, a small range, from just under 110.90 to barely 111.05. Yen crosses did not do a lot either.
EUR/USD , cable, USD/CHF all with small ranges also.
AUD and NZD did not fare too much differently.
USD/CAD ... a relative absence of any Nafta news nor views kept USD/CAD confined from just under 1.3160 to highs just over 1.3180.
Its a big week coming up, with BoE and ECB meetings Thursday.
Still to come:
