Forex and Bitcoin news for Asia trading Wednesday 28 March 2018
Kim Jong Un visit to Beijing:
- China about to provide confirmation of Kim Jong Un's visit
- More on North Korea's leader visit to Beijing - met with Chinese President
- The Kim Jong Un hedge (or caveat, or whatever) on denuclearisation
As the Asian morning got underway the background was a dreadful NY afternoon for US equities and a gaining yen on the souring risk mood. The Australian dollar, too, had a poor overnight session, going into opening trade soft.
Markets were braced for some follow through, but then ....news broke of confirmation that North Korean leader Kim Jong Un had indeed visited Beijing (well sourced chatter of this did the rounds the previous day), had met with Chinese President Xi, affirmed he wanted to meet with the US, and had pledged denuclearization.
Sunshine and lollipops all 'round then? Well, maybe or maybe not, but it was encouraging and enough to send a few yen longs scrambling, taking USD/JPY on a pop higher (yen crosses, too).
More:
- Move over Big Mac, now its the Latte Index of currency valuation
- PBOC sets USD/ CNY reference rate for today at 6.2785 (vs. yesterday at 6.2816)
- South Korea / US trade deal includes currency intervention provisions
- FX option expiries for Wednesday 28 March 2018
- Oil traders heads up - Saudi foreign minister linking Iran with missile attacks
- NZ data: Business Activity Outlook 21.8 (prior 20.4) & Business Confidence -20.0 (-19.0)
- Fresh solution to hard border is imminent, UK tells Ireland --- Brexit - The Times
- ICYMI: Trump admin considering blocking Chinese investment in certain technologies
- Goldman Sachs on equities: 8 reasons still not looking for an imminent bear market
- OIL - private inventory data reports a surprise build in US crude inventory
- Trade ideas thread - Wednesday 28 March 2018
- European Commission to propose €56bn raid on ECB profits
- Good morning AUD traders - early levels information
Elsewhere in forexland .... AUD/USD bounced from circa 0.7675 lows, exporter bids ahead of the previous week's low providing some early support and then the bounce (just a wee one) coming later as AUD/JPY shorts covered a few.
GBP caught a bit of a bid on some positive signs on Brexit negotiations (border negotiations with Ireland, see bullets above).
EUR and CHF are both up a few tics - barely much in either though.
