Forex and Bitcoin news for Asia trading Thursday 12 April 2018
- China says well-prepared if US escalates on trade, will fight back without hesitation
- China March FDI up 0.4% y/y (previous was up 0.8%)
- Australia (February) Home loans: -0.2% m/m (vs. expected -0.4%)
- PBOC Governor says Q1 economic data has been better than expected
- New Zealand to ban future offshore oil and gas exploration
- Bank of Japan Governor Kuroda Will maintain easing for as long as needed to hit 2%
- SYRIA NEWS: Italian air force flight seen over eastern Mediterranean
- More data: UK manufacturers report fastest growth in export sales, orders since Q2 2014
- RBNZ's McDermott speaking on inflation targeting (and employment mandate)
- UK data - RICS House Price balance ( March): 0% (expected 2%)
- New Zealand Card Spending for March: Retail +1.0% m/m (expected +0.5%)
- SYRIA NEWS: More on the news commercial aircraft stopping flights (citing security warnings)
- Moody's changes outlook on Mexico's ratings to stable from negative; ratings affirmed
- JPMorgan sued over fees for cryptocurrency purchases
- SYRIA NEWS: MS trade strategy on potential Syria strikes - a fade opportunity (JPY, AUD target prices)
- Levels on the AUD/USD to keep an eye on (support, resistance)
- Goldman Sachs update their Fed forecast - think a June hike much more likely now
- SYRIA NEWS: Here we go - media reports UK PM May to ask cabinet for approval to attack Syria
- NAFTA officials to meet this week - accelerated push to reach preliminary deal
- Trade ideas thread - Thursday 12 April 2018
- SYRIA NEWS: UK subs to move within range of Syria - attack could be as early as Thurs night
- SYRIA NEWS: White House comments on Syria - number of options besides missile strike
Very early in the session here saw plenty of headlines cross re Syria
- comments from the US canvassing options other than missile strikes
- while news out of the UK pointed to missile strikes being prepared.
Syria headlines continued for much of the session (more in the bullets, above) but we await further developments, still.
Currency movement on the ebb and flow of the headlines was very limited, AUD/JPY (a good 'risk' barometer) changing little.
As the morning progressed, AUD gained, as did overnight US equity index futures. Tokyo names were notable buyers of AUD, but AUD/USD stalled just ahead of the resistance level noted and drifted a little lower.
We got some data from Japan and Australia today, along with remarks from RBNZ Assistant Gov. McDermott, BOJ Governor Kuroda and PBOC Governor Yi Gang (see bullets above)
Data also from NZ showing consumer spending firming, it looks like consumer post-election uncertainty is receding.
On the session, AUD and NZD both ticked up a few points early but as I post have retraced and are little net changed against the big dollar on the session. AUD came under a bit of pressure with the renewed trade tensions evident in the comments out of China's Commerce ministry (see bullet at the top of the list, above)
USD/JPY maintained a small range only. And that was pretty much the case for all of the majors. EUR, GBP both up a little against the dollar and then coming back to barely register much net change at all.
Still to come:
