Crypto:
- El Salvador's President says bought 80 bitcoin at $19,000 each (your taxes at work)
- Deutsche Bank forecasts Bitcoin back as high as US$28K by the end of this year
- Reports that Japanese authorities are moving to allow trust banks to manage crypto
- Update: US government easily tracking your crytocurrency transactions (thanks Coinbase!)
Other:
- Ecuador hopes to be able to remove Oriente crude exports force majeure by July 7
- ICYMI - RBA to raise the cash rate target by 50bp in July - BoA forecast
- China Manufacturing PMI for June: 51.7 (expected 50.1). Private survey Caixin / Markit PMI
- PBOC sets USD/ CNY mid-point for Friday, 1 July 2022 at 6.6863 (vs. estimate at 6.6851)
- BOJ says manufacturing output prices highest since 1980, CPI expectations highest ever
- Japan June Manufacturing PMI 52.7 (prior 53.3)
- Japanese firms expect prices to rise faster in the years ahead
- BOJ Tankan survey for Q2: Manufacturing and non-manufacturing indexes fall
- Japan May unemployment rate 2.6% (expected 2.5%)
- Japan data - Tokyo headline CPI for June 2.3% y/y (vs. expected 2.2%)
- Australia manufacturing PMI (second one for June) 56.2 (prior 55.7)
- Japan’s tax revenue the highest on record, about 67 tln yen in FY2021
- New Zealand building permits for May -0.5% m/m (expected -0.6%)
- Morgan Stanley Research maintains a bullish bias on CAD, short AUD/CAD
- Australian manufacturing PMI for June 54.0 (prior 52.4)
- CNBC report that American Airlines has offered pilots nearly 17% raises
- Quarantine order for residents of Florida's Pasco County (not COVID, nor monkeypox)
- ECB's Holzmann says he would have preferred to hike sooner, & 2% inflation some time away
- New Zealand June consumer confidence drops to 80.5 from 82.3 in May
- UK government plans VAT (tax) cut to ease pain of rising prices
- Asia market holidays today - Hong Kong is out
- Oil - Ecuador agrees to a suspension of protests. Limits oil exploration, mining.
- Trade ideas thread - Friday, 1 July 2022
- Libya says oil output dropped by nearly 1 mn bbl / day
El Salvador’ s President Nayib Bukele announced on twitter that the country bought another 80 BTC, at US$19,000 each. BTC/USD has jumped from lows under $18,800 to back above $20K.
In major FX the movers were yen crosses. We had a barrage of data from Japan today but the yen buying on Thursday US time in response to the slight moderating in US inflation was what carried on during the Asian timezone.
USD/JPY tested towards 136.00 but has slipped from there to be circa 135.30 as I post. AUD/USD, NZD/USD, cable are all notably lower. Yen crosses even more so.
EUR/USD has dribbled off a few tics but its been a big mover. USD/CAD has gained a little.
