Forex and Bitcoin news for Asia trading Monday 30 July 2018
- Some Brexit news for the Europe early risers: EU court to have final say, London jobs lost
- Goldman Sachs on the falling Chinese yuan: "a relatively effective tool "
- PBOC sets USD/ CNY central rate at 6.8131 (vs. Friday at 6.7942)
- Japan Retail sales data for June +1.5% m/m (expected +1.5%)
- Barclays trade of the week is to sell cable (stop, target)
- China press says yuan faces short-term depreciation risk
- ANZ on the EUR, fundamental outlook brightens
- GBP gets Monday morning illiquidity jitters
- What are the concerns right now for AUD traders - the good, the bad, the you-know-what
- Trade ideas thread - Monday 30 July 2018
- Bloomberg report: Charles Koch Says Trump Tariffs Could Trigger U.S. Recession
- Weekend: President Trump threatens to shutdown US government
- Monday morning open levels - indicative forex prices 30 July 2018
Weekend:
- Hassett: My guess is we will see NAFTA deal by the fall
- Mnuchin says he believes US in a sustained period of 3% growth for 4-5 years
- An elaborate theory on how Nigel Farage conspired in a forex trade the night of the Brexit vote
- How much did 'beat the tariffs' add to US GDP?
A subdued week's opening for the majors but China's currency again grabbed the attentions.
The People's Bank of China set the mid rate back above 6.8 for onshore yuan to begin the week. Offshore yuan responded by sliding (as did onshore), back toward last's lows for the currency. There has been not much at all re news nor data from China over the weekend, the yuan move more trend continuation.
Majors were subdued. USD/HOY has ticked 25 or so ppints up from early lows. We got some retail sales data today, a good bounce after May's m/m decline. We await the BOJ July meeting decision tomorrow (previews below).
AUD, CAD are both lower against the USD. EUR and GBO ditto, but small only for all of these.
Still to come:
BOJ on Tuesday:
Tuesday:
- Here is how the BOJ could change policy (while sneakily announcing no change in policy)
- When is the BOJ meeting this week and what time we can expect the announcement
- What to expect from USD/JPY after the BOJ meeting this week
- Heads up for China PMI data coming up Tuesday
- AUD traders - heads up for data due Tuesday - Building Permits (June) preview
Wednesday:
- FOMC meeting … previews to come from tomorrow
- Options people - heads up for a chunky EUR expiry on Wednesday
Thursday BoE:
