Forex and Bitcoin news for Asia trading Thursday 21 June 2018
Video: Canadian dollar hits one-year low. What's next
- NZ data: May credit card spending falls m/m, higher y/y
- Goldman Sachs S&P 500 end year targets - higher and higher
- More Morgan Stanley trades, this time EUR/CHF and GBP/JPY
- Ethereum billionaire looks to China for next big Crypto winners
- PBOC sets USD/ CNY reference rate for today at 6.4804 (vs. yesterday at 6.4706)
- Fitch warns on the threat to Korea's growth outlook from US trade war
- Japan Nikkei Manufacturing PMI (June preliminary): 53.1 (prior 52.8)
- IMF's Lagarde is not entirely convinced on the Greek debt relief package …
- Japan inflation data for May, headline 0.7% y/y (expected 0.6%)
- ECB''s Draghi: Debt relief deal will improve Greek debt sustainability in the med term
- Morgan Stanley trade recommendation for AUD/USD (short); limit, target, stop …
- No apparent dismantlement activities at North Korean rocket engine test site
- Euro zone finance ministers reach debt relief deal on Greece
- German industry group says Britain is drifting toward 'disastrous' Brexit
- Barclays looking for EUR/USD to drop to 1.12
- Russia's oil min says will be a recommendation to raise output by 1 mln barrels/day
- ICYMI Fed's Powell says US companies spooked by trade war, postponing investment, hiring
- OPEC+ committee said to back a 1 million barrel / day supply increase
- Trade ideas thread - Friday 22 June 2018
Forex ranges were small on the session here today and there was not much new news. We did get the Japanese inflation data for the month, so of course yen did pretty much nothing, before or after! USD/JPY confined to 25-odd point range. The headline CPI came in slightly above central estimates bt the important core-core measure only showed 0.3% y/y, way, way below the BOJ 2% target and once again showing us an exit is a long, long way off.
There was earlier news re oil, with indications OPEC+ will look at adopting a 1 million barrel / day output bump. Its OPEC so its not done until its done though. We should get a policy announcement today Europe or US time.
Also in the news, Europe granted a debt releif deal for Greece. You may remember a few years ago the wild swings in the EUR on greek news. Those days are long gone. The debt relief announcement was met with a EUR shrug and yawn. The range for EUR/USD today was barely 20 points.
The PBOC set the mid rate for the onshore yuan lower again (against the USD).
AUD and NZD saw some movement, both trading higher without specific impactful news on either. NZD cracked through its overnight high while, as I update, AUD/USD is knocking on the door.
Still to come:
- Canada retail sales and inflation data due Friday - preview
- FX options expiring at the 10am New York time cut on Friday 22 June 2018
