Forex and Bitcoin news for Asia trading Thursday March 1, 2018
- JP Morgan's chief asset market strategist is upbeat on emerging markets
- Plenty on the US eco calendar today - preview
- SegWit adoption pickup is a positive note for Bitcoin
- UK data coming up Thursday - manufacturing PMI and BoE data
- Former BlackRock bond manager says Treasury yields may hit 4% this year
- NZD traders - Fonterra raises 12-month auction offer volume by 3,000 ton
- White House planning major trade announcement Thursday on steel and aluminium imports
- US considering broad oil-related sanctions on Venezuela
- Heads up for large FX option expiries in coming days (EUR/USD, USD/JPY)
- Political risk for the euro coming up real soon - Italy election, Germany vote count
- Australian GDP data due next week - forecasts being cut after poor Q4 capex headline
- AUD chipping away at the bids ... still
- China (Feb.) Caixin / Markit Manufacturing PMI: 51.6 (expected 51.3)
- Japan PM Abe comments now - supporting BOJ policy and Kuroda
- FX option expiries for Thursday 1 March 2018 2018 - 10am NY cut
- BOJ's Kataoka says BOJ must ease more to achieve inflation target quickly
- BOJ's Kuroda: Wages and inflation have been somewhat weak
- PBOC sets USD/ CNY central rate at 6.3352 (vs. yesterday at 6.3294)
- AUD chipping away at the bids, lower after capex data
- Australia Q4 capex headline: -0.2% q/q (expected +1.0%)
- Japan - Nikkei Manufacturing PMI (final, February): 54.1
- Levels in play for the AUD/USD coming into the big data release (capex due at 0030GMT)
- Japan - Q4 Capex: Capital Spending +4.3% y/y (vs. expected +3.0%)
- BOJ Gov. Kuroda will appear in the Japanese parliament again today, from 0000GMT
- Australia - CoreLogic house prices for February: -0.3% m/m (prior -0.5%)
- US SEC launches cryptocurrency probe
- Mexico & US spoke about aluminium, steel - looking at actions
- Exxon Mobil to withdraw from Russian JVs due to sanctions from US and EU
- Australia - CBA / Markit Manufacturing PMI (Feb.): 55.6 (prior 55.4)
- New Zealand Q4 terms of trade: +0.8% q/q (vs. expected +0.5%)
- White House communications director Hope Hicks to resign
- Australian February Manufacturing PMI: 57.5 (prior was 58.7)
- Australia Q4 capex data due today (a market focus) - preview
- US stocks end the session at the lows
- Economic calendar due from Asia today – Japan and Australia capex, China, BOJ
- Trade ideas thread - Thursday 1 March 2018
- New Zealand - ANZ Job Ads for February: -1.2% m/m (prior was +3.1%)
- ForexLive Americas FX news wrap: Yen climbs into the monthly close
AUD, CAD and NZD movers today (not by too much). There is expected to be announcement on Thursday from the US re aluminium and steel - it would seem trade rstirctions are the likely outcome but this is not a certainty (I think there will be but that could be just me). This weighed a little on these currencies. NZD got a boost from the Fonterra announcement of better offering in dairy volumes.
Further on the AUD was the Q4 capex report which was mixed, with some bright spots (small spots) but, for me, an overall poor result. The headline miss will weigh on Q4 GDP (due March 7) but the 'estimates' were better ... although an improve still they are enormously under the spending plans during the mining infrastructure boom. More in the bullets above. AUD/USD bottomed circa 0.7720.
EUR/USD tracked a small range, a little lower before coming back to be more or less unchanged on the session. Cable and USD/CHF are both little changed net also.
USD/JPY is pretty much ditto despite a stack of data (capex) and plenty of remarks from the BOJ (Gov. Kuroda and dissenter Kataoka (see bullets above).
A further manufacturing PMI from China today saw another steady result.
Bitcoin saw some selling on news the US SEC is launching a large scale cyrpto investigation, with 'scores' of subpoenas issued
