Forex and Bitcoin news for Asia trading Tuesday 6 February 2018
- Full text of the February RBA cash rate decision
- RBA announce an on hold decision - as expected
- A quick look at the red sea in Asian trading
- German wages talks - Labour union says they've led to a result
- Janet, if you're still in the office, now's a good time to show Powell the 'buy' button
- South Korea says North stole millions of dollars of cryptocurrencies last year
- Australian data earlier (retail sales, trade balance) - analyst response
- Equity sell off extending in Asia, 'risk' lower everywhere
- Malaysia's PM Najib says intraday short selling will be allowed to all investors
- Paul Tudor Jones says inflation is about to come back with a vengeance
- Singapore doesn't want to ban crypto trading - Bitcoin gets slammed anyway
- Heads up for NZD traders - dairy auction due during London time
- PBOC sets USD/ CNY central rate at 6.3072 (vs. yesterday at 6.3019)
- Once the market wraps its head around the XIV volatility implosion. It will aid a recovery
- Singapore deputy PM says no strong case to ban cryptocurrency trading
- MOAR Japan officials not commenting on stock market moves
- Here we go again ... US House to vote on govt funding on Tuesday
- Australia retail sales (December): -0.5% m/m (expected -0.2%)
- Australia December trade balance: AUD -1358m (vs. expected surplus of AUD 200m)
- The XIV is going to be the first big ETF blowup and Credit Suisse is going to be hit hard
- Singapore deputy PM says the MAS is closely studying cryptocurrency
- Y'all ready for higher trading margins?
- UK data - BRC sales like-for-like (January) +0.6% y/y (expected +0.7%)
- Japan finance minister Aso says he has no comments on stock market movements
- Japan economy minister Motegi says he wants closely watch financial market moves
- Malaysian Securities Commission chair says "froth" in cryptocurrency markets
- Could this be why the XIV crashed? It's only worth $4.22
- BOJ Governor Kuroda to appear in Japanese parliament today from 0400 GMT
- XIV, SVXY collapse in after hours - not reflected in forex moves
- No one knows what's happening in XIV and it's causing a panic
- All the previews of today's RBA decision in one place (and the Aust. data previews too)
- Australia - weekly consumer confidence 122.7 (prior 120.9)
- White House response to stock market drop - Trump focus on long term fundamentals
- Reserve Bank of Australia meet today – previews again
- Something incredible is happening in the short-volatility ETF XIV and Jim Cramer is having a meltdown
- Reserve Bank of Australia meet today – more previews
- Bundesbank director Wuermeling denies QE favours certain countries
- Reserve Bank of Australia meet today – previews
- Brexit leak: The 37 EU rules Britain could be forced to accept during Brexit transition
- Forexlive Americas FX wrap: Stocks tumble. Flight into the JPY.
- Trade ideas thread - Tuesday 6 February 2018
- The rout continues: S&P E-mini futures hit fresh low
- Australia data due today ahead of the RBA announcement – trade balance (Dec.) previews
- Australia data due today ahead of the RBA announcement – more retail sales previews
- Australia data due today ahead of the RBA announcement – retail sales previews
- Heads up for NZD traders - its a it's a New Zealand holiday today
- CRASH! Dow down -1175 points. S&P steepest decline since August 2011.
- The drop in the S&P 500 was the biggest fall since August 2011. Here's what happened then
- Economic calendar due from Asia today – Reserve Bank of Australia meeting
It was all about the stock market fall today - US stocks plunged on Monday and that followed though here today in Asia with local exchanges opening lower (d'uh) and then falling further:
- Check out Justin's post on A quick look at the red sea in Asian trading
The fallout for forex was relatively minor during the session here. 'Risk' had fallen during the Monday US session but extensions here were small only.
The yen and gold managed a pop. USD/JPY down toward 108.50 and the yellow rock rocking it towards $1346.
AUD/USD fell in line, but the fall was limited especially as given data for it today was a miss on both the trade balance and retail sales (for December). Details for both were not as bad as the headline, but not great either (see bullets above). The AUD response to the RBA announcement was tiny - barely anything to the as expected announcement. Yes, that's right, the RBA's first meeting of the year was today ... good day for it, eh? Welcome back, gang ....
An 'on hold' decision was unanimously expected and that's what we got. More detail on changes in the statement in the bullets, above.