Forex and Bitcoin news for Asia trading Friday 28 September 2018
- UK polling companies in trouble over sale of polls to hedge funds during Brexit referendum
- ICYMI: Italy hikes deficit, defying EU, as economy minister caves in
- UBS on the Australian dollar - forecasting to 82 cents (by the end of next year …)
- Australian data - private credit +0.5% m/m (expected +0.4%)
- PBOC sets USD/ CNY mid-point today at 6.8792 (vs. yesterday at 6.8642)
- Did BOC Gov Poloz just highlight Brexit complacency?
- UK - BCC says 'No deal' Brexit would force many UK firms into EU
- UK data - Lloyds Business barometer (September): 29 (vs. prior 23)
- UK - GfK Consumer Confidence for September: -9 (expected -8)
- Bank of Japan Summary of Opinions from the September meeting
- Japan Industrial production for August, preliminary: 0.7% m/m (expected +1.4%)
- Japan Retail Sales for August: 0.9% m/m (expected 0.5%)
- Japan data - Tokyo headline CPI for September: 1.3% y/y (expected 1.1%)
- More again from BOC Gov Poloz: Core inflation measures clustered around 2%
- More from Poloz: Optimistic on Nafta, negotiations going well
- New Zealand Building Approvals for August: +7.8% m/m (prior -10.3% m/m)
- BOC Gov Poloz Q&A: Optimistic for a Nafta agreement in some form
- Here is a great quick video from Bloomberg on why Canada can win the trade war
- New Zealand - ANZ Consumer Confidence for September: 0.0% m/m (prior -0.7%)
- Canada's MacNaughton says sees some progress on Nafta negotiations
- BOC's Poloz says will continue to raise rates gradually to more neutral
- Brexit - Boris Johnson is at it again - calls on May to scrap her proposals
- Trade ideas thread - Friday 28 September 2018
- More from Fed's Powell: Asset prices high, equity prices high historically
- Fed's Powell - US economy strong, unemployment low, inflation stable
- Elon Musk is being sued by the SEC (you really should check this out for the clip)
We got brief comments from Federal Reserve System Chair Powell to kick off the session. He didn't say a lot and nothing to surprise the markets nor to send the forex rates scooting off anywhere.
He was followed soon after by Bank of Canada Governor Poloz
with a speech
and then a Q&A
and then a news conference
and then .... well, you get the picture, he went on and on and on ....without saying too much really, I guess that is a skill you learn as a central banker. CAD didn't do a real lot, in fact its barely had a 25 point range all session here. USD/CAD is close to its low of that small range.
Over to Japan then for a bucketload of data: Tokyo CPI, Japan retail sales, industrial production, and BOJ communication (the 'Summary' for the September meeting). Check out the bullets above for more but at the time the yen impact was barely noticeable.
USD/JPY did finally move, popping to circa 113.60 and establishing a 25-off point range on the session. The Nikkei joined the party, hitting a high since 1991.
USD/CHF has barely moved. Cable ... ditto. AUD/NZD was bought, but not too much. AUD/USD and NZD/USD have each had a 15 or so point range.
The final trading day for September in Asia has not been notable..
Still to come:
What the? Is he still talking?
