Forex and Bitcoin news for Asia trading Thursday 5 April 2018
- AUD/USD technical analysis - weekly and daily charts
- Australia - Trade balance for February: AUD +825m (vs. expected surplus of AUD 725m)
- New Zealand data - Commodity prices (March): +1.2% m/m (prior +2.8%)
- Its official - President Trump signs proclamation directing troops to US-Mexico border
- China press: China confident it can win trade war - US to suffer
- Japan press: Fin Min to clarify cryptocurrency transfer rules to laundering
- Will the BOJ start to tiptoe to exit within a year? This guy says yes (and he should know)
- Australia services PMI for March (yes, another one): 55.6 (prior 54.2)
- United States is expected to impose additional sanctions on Russia by Friday - more detail
- Australia services PMI for March: 56.9 (prior 54.0)
- NZ data - Job advertisements for March: +0.9% m/m (prior was -1.2%)
- Here is an indicator you might not have seen supporting the BOJ’s QE exit discussion
- Canadian NAFTA negotiators are not bullish on an agreement within 2 weeks
- Trade ideas thread - Thursday 5 April 2018
It took quite some time AsiaFX to get a wiggle on today, early movement was very limited indeed but as the session progressed we saw continuation flows out of yen and a benefit for the USD.
There was little in the way of fresh news, nor was the data flow today impactful. China and Hong Kong were both out on a holiday and will be absent again on Friday.
USD/JPY sat around 106.75 and thereabouts from late US into mid Tokyo morning when it began to tic up very slowly. As I update it is on just shy of 107
USD/CHF has moved a little higher also, while EUR/USD moved toward 1.2290 before slipping back to be little changed. Cable popped 1.4090 beirfly and is also little changed on the session.
CAD had added a few points in late US trade and found a few more in the tank (just a dribble) before crawling back above 1.2760.
From Australia we got trade balance data - a smaller surplus than the previous month but better than expected and gas exports are moving higher (and will continue to contribute strongly to exports). AUD/USD popped 0.7720 but there is a big band of resistance around 30/40 (stops above) which halted its advance and its on session lows back around 0.7700 as I post. NZD/USD ha a similar pattern, higher and back on session lows now (lower tier data from NZ today was supportive).
Still to come:
