Forex and Bitcoin news for Asia trading Wednesday 7 February 2018
- And here is Goldman Sachs' Hatzius (more on his 4 Fed rate hike call)
- More on Goldman Sachs' bullish commodities call
- Wall Street starts to revise EUR/USD calls as initial forecasts fall short
- ANZ say "heightened near-term risks for sterling"
- NZD traders heads up - RBNZ meeting - previews all in the one place
- Bank of England meet on Thursday - preview
- More from Goldman Sachs - Hatzius still looking for 4 Fed rate hikes in 2018
- Goldman Sachs in positive on commodities
- Japanese fin min Aso says he can't comment on if Coinbase hack was North Korea
- PBOC sets USD/ CNY reference rate for today at 6.2882 (vs. yesterday at 6.3072)
- Fitch sounding positive on China WMP - less contagion risk
- Bitcoin freeloads on institutions’ trust says group of bankers (stop LOLing you lot!)
- AUD traders - heads up for RBA Gov Lowe speaking later this week
- Japan wages data - adjusted for inflation December showed a rapid fall
- Forex option expiries for Wednesday 7 February 2018
- NZD traders heads up - more to come! RBNZ meeting preview
- Australian Industry Group Performance of Construction Index for January 54.3 (prior 52.8)
- NZD higher this morning in early Asia - marked up following strong jobs report
- US shut down debate - House votes to have a vote
- More from BlackRock on the equity market downdraft and what comes next
- NZ Q4 Unemployment rate 4.5% (expected 4.7%) Employment change 0.5% q/q (exp 0.4%)
- Trade ideas thread - Wednesday 7 February 2018
- OIL - private inventory data reports surprise draw in US crude inventory
- ForexLive Americas FX news wrap: Stocks gain the most in two years
- Stick this in your diary - Fed Chair Powel to testify on February 28
- Watch for stops if USD/CAD falls below 1.2500
- BlackRock on the equity 'downdraft' ... driven by populism
- Ahead of the RBNZ meeting - Shadow Board recommends 'on hold'
- Oil traders - your attention please! Heads up for inventory data due bottom of the hour
- Trump met with Rosenstein in the last hour to discuss Democratic memo
- White House saying now Trump is not advocating for a government shut down
- Time of a long-VIX implosion now?
- Sth Africa - President to resign 'as soon as list of pre-conditions finalised'
- NZD traders heads up - NZ jobs report – more preview (Note – RBNZ meet tomorrow)
- USD/JPY creeps towards session high on stock market rebound
- New Zealand jobs report coming up soon – preview (Note – RBNZ meet tomorrow)
- Economic calendar due from Asia today
Turnaround Tuesday for stocks in the US and Asia FX celebrated by doing what it does best, which is not much at all. To be fair, it didn't do much after the plunge in US stocks on Monday either.
USD/JPY popped above 109.60 in early Tokyo, and with the release of another set of poor wages data the yen fell again ... rose. Poor wage growth argues for continuing Japanese monetary policy accommodation (and thus a soft yen), but USD/JPY fell back a little. The move was small.
USD/CHF, EUR/USD, cable ... all little changed on the session.
AUD/USD didn't do too much either, little changed from its late US time session highs. Positive commodity comments from Goldman Sachs and a stronger yuan may have contributed to its hovering in just a small range near the highs. Its dropped just a little since as Chinese shares weakened a little in morning trade there.
NZD/USD was more interesting - the Q4 employment report showed solid beats (see bullets above) with the NZD/USD marked higher immediately. Since the circa 0.7350 high its drifted back a little, which at this stage looks to be little more than a 'gap' fill move. Traders are on alert though, there is an RBNZ monetary policy announcement due at 2000 GMT and more to follow (see bullets above).
CAD was a little stronger early, USD/CAD dropping under 1.2500 and pretty much sideways since. Oil is higher on the session - private inventory data showed a small draw instead of the build expected, helping to support the price.
Bitcoin turned down a little after a good rally from 6K USD:
