Forex news for Asia trading Monday 11 December 2017
Bitcoin futures - first day of trade!
- What's priced in for the FOMC meeting this week?
- 4 reasons gold is going up
- Bitcoin starting to pick up as futures soar
- More on the improving sentiment amongst Japanese manufacturers
- NZD higher - only news is the appointment of an RBNZ governor
- The Reserve Bank of New Zealand has a new governor
- Deutsche Bank's 30 material risks for markets in 2018
- UBS sees 'short term pain' for gold
- Goldman Sachs preview of this week's FOMC meeting
- Brace for the biggest tightening of monetary policy in more than a decade
- Nearby FX options for Monday (11 December 2017) expiry
- PBOC sets USD/CNY reference rate for today at 6.6152
- Heads up for US President Trump to speak on Wednesday - on tax
- ANZ on the CFTC positioning data
- British Chambers of Commerce sees continued stifled business investment in 2018
- Visa (payment card) survey: UK Nov. consumer spending -0.9% y/y (prior -2.1%)
- UK data: Rightmove House Prices (December) -2.6% m/m (prior -0.8%)
- Japan data - November money stock and BSI survey
- CBOE says its website is being slowed by heavy traffic (Hello BTC trading!)
- "Upstart hedge funds" using artificial intelligence for trading (... well, a bit)
- NZIER survey of economists shows expectations of slower growth
- The BOJ own >74% of Japan's ETFs ... future purchases expected to slow ...
- Plenty of data due from China this week
- Never mind the bitcoin ... check out this bubble in Santas
- Bitcoin futures about to launch ... and BTC is a bubble says RBNZ head
- New Zealand data - Nov. Retail card spending +1.2% m/m (expected +0.5%)
- Brexit Sec Davis says UK wants a free-trade deal when it leaves the EU
- Outlook for the USD this week - politics and FOMC ahead
- "Clear turnaround in NZD sentiment" says ASB in its latest currency survey
- Economic calendar in Asia today
Weekend
- It's a big week for central banks. What's on the agenda
- Kuwait says oil production cuts can stop in June if market re-balances
- Other EU trade partners say UK shouldn't get a better deal
- Election poll puts Catalan separatists short of majority
- Five simple trading rules you can use
- Trump describes an extremely bizarre trade negotiation
- CBOE Bitcoin futures launch on Sunday. Seven things you need to know
- China November CPI 1.7% y/y vs 1.8% expected
Some minor currency moves to open the week in Asia today, but many eyes were on the launch of Bitcoin futures. Volatility there didn't disappoint, on its first ever day of trading the new contract triggered a circuit breaker (two!) after rising 20%, pausing trade. At +10% on the session trading stopped for 2 minutes and for 5 minutes at +20%. This is Bitcoin, the exchange may need wider limits :-D.
While not comparable n scale, forex markets had a notable move on the NZD, it spiked on news of the appointment of a new RBNZ Governor
- NZD higher - only news is the appointment of an RBNZ governor
- The Reserve Bank of New Zealand has a new governor
Why? I'd suggest it was an excuse to run short stops, but I'm sure there will be a better narrative in time ;-)
EUR/USD has gained a few points on the session but is little changed really. Cable too is up from very early lows but again, not too much changed . AUD/USD hasn't matched the NZD for its move, but is a up a few points nevertheless.
Overall a subdued beginning to the week for most of the forex. It will be a busy week, though, with the Federal Reserve FOMC meeting, and meetings also at the ECB, BoE and SNB coming up:
