Forex and Bitcoin news for Asia trading Friday 18 May 2018
- China says it will end its anti-dumping probe of US sorghum
- Trump and Trudeau discuss NAFTA in phone call
- PBOC sets USD/ CNY reference rate for today at 6.3763 (vs. yesterday at 6.3679)
- Japan April inflation data miss - recap and response
- Japan's METI minister comments on retaliation to US metals tariffs
- Japan April CPI: Headline 0.6% (expected 0.7%)
- More on the $200bn/year trade deficit reduction package China offered Trump
- US Lighthizer says NAFTA countries are nowhere close to a deal
- US China trade talk deal rumours - getting the ball rolling
- Morgan Stanley say the worst is yet to come for the NZD (and look out AUD & CAD)
- Trade ideas thread - TGIFriday 8 May 2018
The Canadian dollar was a (relative) mover here in the Asian morning, after US trade representative Lighthizer said the NAFTA countries are "nowhere close" to a deal. More in the bullets above, but you get the idea .... USD/CAD ambled its way from circa 1.2800 to (briefly) over 1.2845 pre-Tokyo and has since retraced to around 1.2825 as I update.
And, the excitement didn't stop .... USD/JPY headed up towards 111 with a miss on headline and core CPI (core-core came in line) arguing for no near term exit from the BOJ. Compounding the yen's woes against the buck, the US 10 year yield popped to another fresh 7-year high during the Tokyo morning.
Elsewhere, minor movement on other currencies. EUR/USD ticked above 1.1805 at one stage (assisting EUR/JPY to a near 50 point gain on the session at its peak). NZD managed to trade up, from around 0.6875 to just under 0.6900 for the session. AUD/NZD sellers restrained AUD/USD, its barely budged. Cable too, little change.
Still to come:
