Forex and Bitcoin news for Asia trading Monday 5 November 2018
A weekend Brexit headline (one of the 'there will soon be a deal' type news items) saw GBP marked higher in early hours of the forex week as NZ traders hit the desks:
This was soon countered by a piece saying the Brexit secretary Raab had stuck a roadblock back in place:
- UK's Brexit Secretary Raab takes a hard line, sets back Brexit negotiations
- FT now on UK's Brexit Secretary Raab's hard line stance on Irish border
GBP traded back lower as this filtered through. I saw highs up just above 1.3060 before it began subsiding; its below 1.2990 as I post.
Other
- Trade ideas thread - Monday 5 November 2018
- More from BOJ Gov Kuroda - will seek to exit easy policy if inflation reaches 2%
- China's President Xi speaking - calls for more open global trade
- China - PBOC adds liquidity via one year fund injection
- China October Services PMI 50.8 (vs. expected at 52.8)
- PBOC sets USD/ CNY reference rate for today at 6.8976
- New Zealand - Treasury says business confidence appears to have stabilised
- BOJ Governor Kuroda speaking now, says will continue with easing policy
- Australian monthly jobs ads series +0.2% m/m in October, from Sep. -0.7%
- Japan services PMI higher in October, to 52.4 from Sep. at 50.2
- NZ export prices fall again in October, fifth month in a row
- Monthly Australian inflation gauge
- BOJ meeting minutes - link to full text
- Barclays on AUD (they like), NZD (not so much)
- UK press on Brexit: EU and British red lines remain incompatible
- More Australian service PMI data out now, CBA's index higher in October
- Australia service sector PMI for October down 1.4 points on the month to 51.1
- Goldman Sachs says fear over US recession are overdone
- Australia - Westpac comments on the economy, housing, mortgage delinquencies
Weekend:
- What's on the economic calendar in the week ahead
- Brexit deal almost done - report
- How to find a great entry price and reduce your stop size
We got plenty of data and news today, but the impact on FX was minor only.
PMIs from Australia, japan and China were a mixed lot, but as they were services (and some composite) they did not have much effect.
Bank of Japan Governor Kuroda spoke, pretty much sticking to his normal script with no indications of any policy change hinted at.
USD/JPY has maintained a flat sort of range, minor wiggles centring around 113.15. EUR/USD is pretty much unchanged on the session also, and little change from late Friday for USD/CHF too.
AUD and NZD had some minor movement but are net little altered. USD/CAD up a few tics on the session only.
All in all a quiet Monday start in Asia for forex except for the those GBP moves.
Still to come:
