Forex and Bitcoin news for Asia trading Friday 19 January 2018
- PBOC instructs payment institutions stop providing services for virtual currencies
- More on the oil drop earlier - WTI down almost 1% on the day
- Reuters poll on expectations for Australian GDP: 2.3% 2017, then 2.8% in '18 & '19
- The European Central Bank meet next week - what to expect
- Oil - sharp fall in price, big volume
- US Senate vote on the stop gap funding bill has been delayed until Friday
- UK data coming up Friday - December retail sales - previews
- Here's how to make your bitcoin wallet secure for around 100 bucks
- US government shutdown voting - Senate expected to vote within hours
- China's NDRC says GDP expected to grow by 6.5%-6.8% y/y in 2018
- PBOC sets USD/ CNY mid-point today at 6.4169 (vs. yesterday at 6.4401)
- Bank of Japan keeps the amounts of JGB it purchased today unchanged
- US govmt funding vote (to avert a shut down) passes House (here's what's next)
- A heads up for NZD traders - PM to take leave from June (but don't panic)
- WSJ reports the White House is thinking of SF Fed head Williams for Fed vice-chair
- More from Fed's Mester - says actions to lift long-run US economic growth are positive
- US govmt shut down: House to vote on a stopgap spending bill at 0000 GMT
- Fed's Mester says pace of 2018 rate hikes should be similar to 2017
- US House majority leader McCarthy: "we're in very good shape" for passage
- Here is more on "Deciphering the EURUSD puzzle"
- China state researchers expect 2018 GDP at 6.7% growth
- Morgan Stanley wary of a USD bounce within a still bearish trend
- House freedom caucus leader: not enough votes to pass stopgap funding ... yet
- Forexlive Americas FX news wrap: US dollar moves back to the downside as ups and downs continue
- 3 scenarios: How a bitcoin crash could in turn crash the stock market (& the Wile E. Coyote effect!)
- Trade ideas thread - Friday 19 January 2018
- New Zealand - BusinessNZ Manufacturing PMI (December): 51.2 (prior 57.7)
- NAFTA talks extended
- US major stock indices are ending the session with declines
- SG on the BoE - "not at all trying to suppress GBP strength"
- Economic calendar due from Asia today - a light one but heads up for the BOJ
- Here is Lloyds on what will underpin risk (spoiler - China!)
- BoA / ML on "Deciphering the EURUSD puzzle"
Small ranges pretty much across the forex board today with not a lot to focus on - continuing higher UST yields and US politics (funding vote) notwithstanding.
Nevertheless, there were a few items of interest. Ordinarly the New Zealand manufacturing PMI data passes by without much notice, but the December result announced today showed a sharp drop. This weakened the NZD, but not by too much (I mention small ranges, right?). It seems its post-election related uncertainty, which may well pass, but something to note.
While we're on New Zealand, a bit of non-market news. The Prime Minister Jacinda Ardern announced she is expecting her first child in June. Congrats from all at ForexLive! Ardern will take 6 weeks leave after the birth, leaving Winston Peters as acting PM during that time.
Apart from the NZ data news and data flow was light indeed. The stop gap funding bill for the US government passed the US House and progressed to the Senate for a vote - which is expected on Friday (see bullets above).
EUR/USD is edging a little higher as I update, AUD/USD has spent the session above 0.8000 (not by too much) . GBP and CHF have each gained a few tics against the USD, as has the yen.
Oil dropped sharply in the Asian morning. There was no fresh news about, but volumes were quite big on the selling indicating there was something behind it (which may have been a position adjustment/square).
Bitcoin is near its session low as I update but still above 11,000 USD (as of writing ... no-one hiccup, K?). The latest from the People's Bank of China on virtual currencies would not seem to be a positive for crypto (see bullets above).
MSCI's broad index of Asia-Pacific shares ex-Japan gained further today, adding to a strong week:
- Up 1.2% on the week
- up 0.3% today to a new record high
Still to come in the UK today:
