Forex and Bitcoin news for Asia trading Friday 7 September 2018
- M6.4 earthquake Ecuador
- USD CAD extending its drop - Trump says believe Canada will be part of Nafta
- Bloomberg: Here's How Trump Can Formally Call China a Currency Manipulator
- PBOC injects funds into market, 1 year MLF 176.5bn yuan
- US politics update: Giuliani says Trump will not answer Mueller's obstruction questions
- Australia Home loans for July: +0.4% m/m (expected -0.1% )
- PBOC sets USD/ CNY reference rate for today at 6.8212 (vs. yesterday at 6.8217)
- New Zealand Prime Minister says her government is stable after minister resigns
- Canada official says its unlikely a Nafta deal to be agreed to this week
- I am reading this Goldman Sachs research as saying they do not like the AUD ;-)
- Canada's Freeland says Nafta talks will continue on Friday
- Japan wages data for July: Labour cash earnings: +1.5% y/y (expected +2.4%)
- Japan data: Overall Household Spending for July +0.1% y/y (expected -0.9%)
- Macquarie says 'USDJPY: Topping out here' (and comments on AUD also)
- Australia construction sector PMI for August 51.8 (from 52 in July)
- More from RBNZ Gov Orr - economic outlook is not that bad
- Fed's Rosengren wants to pay more attention to buffers for future shocks
- Goldman Sachs CFO says Bitcoin trading speculation is fake news
- Trade ideas thread - Friday 7 September 2018
Hopes were up for an agreement Thursday night, but now they are up for an agreement on Friday! Talks resume in the morning, US time. But, please note this little snippet from an unnamed source:
Later USD/CAD took a tumble on comments from President Trump addressing supporters at a rally in Billings, Montana. He said he the US will make a far deal with Canada on Nafta.
USD/CAD edged ever so slightly higher in the session until 1.3160-odd and then slid back toward its overnight low circa 1.3140. It fell further from there on Trump's later comments to around 1.3120 lows.
EUR, CHF, GBP are all very little changed against the big dollar.
USD/JPY slid late US time on reports President Trump has Japan in his sights for the next escalation of the trade war, Adam with the heads up to short the USD/JPY just before it hit:
USD/JPY had a wee retrace to circa 110.70 before the Tokyo desks grabbed hold of it and gave it a shake, its been done to around 11.40 and sits sideways above 110.50 as I post. Yen crosses are lower alongside.
AUD, NZD are both a few points worse off on the session also, weighed on by the yen cross and an end of week malaise. NZ politics is seeing a little wobble, the PM announcing the government is stable ... which is rarely a good sign.
AUD data was home loans, a beat but the details are not going to convince the housing bears to back off, probably more pain to come before it gets better in that sector, but lets not get too heavy on the doom just yet.
Still to come for Friday, plenty! NFP is the biggie in the US morning, preview below.
Still to come:
