Forex and Bitcoin news for Asia trading Thursday 1 February 2018
- Big oil-field service firms say more positive on 2018
- The US is fighting and winning a 'cold currency war' - PIMCO
- Heads up for 'Mr. BOJ' to speak at 0500 GMT
- Previews of the US data coming up Thursday - manufacturing PMI for January
- The PMIs continue later - UK January manufacturing coming up - previews
- Japan press: Calls for stimulus tapering growing within Bank of Japan
- Australian building permits data for December down sharply - responses coming in
- China - Caixin / Markit manufacturing PMI for January: 51.5 (expected 51.5)
- Jeff Gundlach with "Just the facts" on cryptocurrency (ps. bulls wont won't like this)
- The UK launches a Gold-backed cryptocurrency
- PBOC sets USD/ CNY reference rate for today at 6.3045
- China wants a weaker currency but it’s not something they really, really want ...
- HSBC say the yuan "can strengthen further this year" )and comments on EUR/USD also)
- Japan - Nikkei / Markit manufacturing PMI for January to 54.8 (prior was 54.0)
- Australia terms of trade data for Q4 2017: Export price index +2.8% q/q, import +2.0% q/q
- Australia - Building permits data for December: -20% m/m (vs. expected -7.6%)
- EU threatening sanctions to stop Britain undercutting Eu economy after Brexit
- Soc Gen on USD/JPY: 105-115 for the rest of the year?
- Blockchain & cryptocurrency pivot ... a "magic money making machine"?
- Here is a forecast for what the RBA will do in 2018 (spoiler - flatline)
- Australia - CoreLogic house prices for January: -0.5% m/m (prior -0.4%)
- Australia data - AiG manufacturing PMI, January: 58.7 (prior 56.2)
- UBS on EUR/USD - support and resistance levels
- Italian election - Leader of 5-Star Movement says he is willing to govern with rivals
- HSBC have revised their call for an RBA rate hike to Q3 2018 (previously Q2)
- Australia - CBA / Markit manufacturing PMI for January: 55.4 (prior 57.1)
- Forexlive Americas FX news wrap: FOMC statement does not rock the market
- Australian Q4 terms of trade data due today - preview
- Trade ideas thread - Thursday 1 February 2018
- Economic calendar due from Asia today ... plenty!
- The final tally for how major currencies did in January 2018
- Australia building approvals data for December due today - previews
- New Zealand ANZ job ads data for January: +3.1% m/m (prior -0.3%)
- Early heads up for some Kiwi data due soon (2100 GMT)
Narrow ranges here in Asia today following the FOMC in the US overnight.
USD/JPY has managed to approach its US trading session high again, dragging yen crosses generally higher with it; but, yeah only a small range. 109.40 is under threat and looks vulnerable as Europe trading gets closer.
EUR/USD was fairly stable around 1.2420 for much of the session here with little in the way of fresh news nor data to move it. USD/CHF, also a subdued range. Cable ... well ditto. In fact, AUD, NZD, CAD, gold ... all range bound and fairly subdued for the session.
We did get some data today - Australian building permits for December had a huge miss ... it is a volatile data series but wow, the drop on the month was large indeed. AUD/USD lost a few points on the data but hasn't done much at all since (did I mention ranges were small?)
Cryptos are slightly heavy but there was little in the way of fresh market-moving developments today. Bitcoin near session lows as I update:
We got PMIs from Australia, Japan and China today (manufacturing PMIs that is), there is plenty on the bullets above on them, but in brief:
- Australian manufacturing PMI for January slightly down from December but the readings for current and future conditions remain strong
- China manufacturing output growth hit a 13-month high in January ... but increases for new orders and export sales were slower compared to December
- Japan manufacturing ... New order growth at four-year high and employment measure increased further
& there are more PMIs still to come:
