Forex and Bitcoin news for Asia trading Tuesday 9 October 2018
- ANZ's October outlook includes 5 'hot spots' for volatility
- HFT won’t supply liquidity when it’s most needed! So, what's your point? (rant alert 2)
- IMF Chief economist Maurice Obstfeld says fund has an optimistic Brexit outlook
- NW on the euro, yen and USD - dollar set for new highs
- Here is why China may link the yuan to gold (and maybe they already have)
- "Its all the algos fault!" Why you should avoid this b/s explanation. (rant alert 1)
- PBOC sets USD / CNY central rate at 6.9019 (vs. yesterday at 6.8957) (and drained liquidity again!)
- IMF cuts its global economic growth forecasts, citing tariff hikes, EM issues
- Australia September business conditions: 15 (prior 15), Confidence 6 (prior 4)
- Japan BoP current account balance for August: ¥ 1838.4B (vs. expected ¥ 1889.6B)
- China is to raise its export tax rebates
- UK data - BRC September like-for-like retail sales -0.2% y/y (August was +0.2%)
- Australia weekly consumer sentiment survey; 117.3 (prior 118.1)
- Goldman Sachs on 3 FX implications of the new Nafta (USMCA)
- NZ - ANZ Truckometer indexes fell in September: Heavy traffic -2.6% m/m & Light -0.7%
- Natwest on the AUD and NZD (bullish AUD/NZD)
- Trade ideas thread - Tuesday 9 October 2018
And here we are, barely changed from late US levels. Yes, the US (and Canada) were on holidays (drinking vodka milk I'll wager) but it was an active forex session there in the thinner than usual liquidity. Not so here in Asia.
EUR/USD, USD/JPY, USD/CHF, GBP/USD, NZD/USD are all barely different from around 4pm NY time.
AUD/USD has managed to gain a few points, some of it due to a nudge of buying against the hapless kiwi. We got some AUD data today, business conditions and confidence hanging in at reasonable levels. Gold has drifted a dollar or two to the better.
We did get some more action from China today, USD/CNY reference rate marked up again from the PBOC and another net drain in liquidity. Today the Shanghai Comp didn't plunge, so that's something.
There was barely any news to report, and what there was (IMF downgraded its forecasts for the world, yawn) was non impactful.
Oh, the ASX is flying, like a rock ... it dropped to negative for the whole of the year. The event was marked (by me, with a fake) tweet from the US Prez:
Still to come:
