Forex news for Asia trading Tuesday 2 January 2018
- More Bitcoin! North Korean hackers are hijacking computers to mine cryptocurrencies
- The FT's annual predictions survey - UK economy to slow further in 2018
- More on the China manufacturing PMI (private Caixin survey) out earlier
- Forex Tokyo morning update (and bitcoin too!)
- Oil - US crude futures trade to their highest since June 2015
- China Caixin Manufacturing PMI (December) 51.5 (expected 50.7)
- FX option expiries for the 10am New York time cut on Tuesday 2 January 2018
- PBOC sets USD/CNY reference rate for today at 6.5079 (vs. Friday at 6.5342)
- UK press - Brexit uncertainty weighs heavily on British companies
- A truck has driven into pedestrians in San Francisco
- Singapore - Q4 2017 GDP data
- NZD traders - heads up for the GDT dairy auction due today (Tuesday, London time)
- Australia - CoreLogic Hose Prices for December -0.4% m/m (prior -0.1%)
- North Korean media report that China has begun to deploy military units along border
- Australia: AiG manufacturing PMI for December: 56.2 (prior 57.3)
- Bitcoin and blockchain update, source for charts, and why you need to stay awake all night
- Australia - CBA's manufacturing PMI: 57.1 (prior 56.3)
- Trade ideas thread - Tuesday 2 January 2018
- Key Chinese economic data came out over the weekend, and more to come today
- Welcome to 2018 - here is the first economic calendar for the new year!
Weekend:
- Ripple adds a new twist to the "flippening"
- North Korea leader Kim Jong Un: I have a nuclear launch button on my office desk
- What are your best 2018 trade ideas?
- China Dec manufacturing PMI 51.6 vs 51.8 prior
- Trump's team bragged about stolen Clinton emails months before they were released - report
- Bitcoin falls 12%. Australian banks freeze accounts tied to crypto
The new year holiday on January 1 meant the forex markets only really got active on day 2 - today. Just a note to begin, though, many forex market traders will be taking this week as part of an extended break, which will mean liquidity won't really be back to 'normal' until next week. Just something to be aware of.
The Australian and New Zealand dollars were standouts on an otherwise subdued sort of session. AUD/USD has popped itself above 07830, with a better Chinese PMI (the private survey Caixin) adding to some short covering ahead of and above the recent high (late last week) circa 0.7825. Along with the PMI helping the AUD are rates edging a little higher (the 10 yr rate spread hits its highest since early in November 2017). NZD/USD was not left behind, it gained to above 0.7110.
EUR, GBP, CHF and yen are little changed against the USD to open the week, none are too far from late Friday trade in the US.
The mid rate for USD/CNY was sent to its low since early September by the People's Bank of China setting today; the bank did not inject funds via open market operations either (for the 7th business day in succession). The Bank is getting a jump on what is likley to be a year of slightly tighter financial conditions in China (at least while the economy holds a steady rate of growth and does not slip too much).
Bitcoin has traded circa mid-1300s (USD) on the session here after an early attempt higher:
And is getting a bit of a chop as I update ...
