Forex and Bitcoin news for Asia trading Wednesday 17 January 2018
- US - more detail on House GOP spending stopgap to avert government shutdown
- Moody's says the yen could rise if North Korea conflict increases risk aversion
- There was export order data out of Singapore a little earlier - ICYMI
- Moody's does not expect imminent BOJ tightening in Japan
- Australian home loans data beat today - responses coming in
- Moody's says a China hard landing scenario has become more remote
- US Sec State Tillerson won't comment on possible military strike against North Korea
- Here are 3 reasons Bitcoin (& cryptos) surged. Same 3 explain why they have collapsed.
- US Secretary Of State Tillerson says world will not accept a nuclear-armed North Korea
- North Korea headlines crossing from the meeting
- PBOC sets USD/ CNY mid-point today at 6.4335 (vs. yesterday at 6.4372)
- The BOJ keeps it purchases of JGBs unchanged in today's operation
- EUR/USD hits a 3 year high
- Preview #4 and #5 of today's Bank of Canada meeting (both these banks expect a hike)
- US House Republicans discuss stop-gap government funding through to Feb. 16
- Australia: (Nov) Home loans +2.1 % m/m (expected flat at 0.0%)
- Rumors of the death of Ripple were greatly exaggerated
- Preview #3 of today's Bank of Canada meeting: "expected to hike rates"
- New Zealand data - (Dec) ANZ commodity price index down 2.2% (prev. -0.9%)
- Japan data - Nov core machine orders up 5.7% m/m (vs. expected down 1.4%)
- Its morning in Asia - why that's important to Bitcoin traders
- Australian Westpac Consumer Confidence (Jan): +1.8% (previous 3.6%)
- China bank regulator - shadow banking & illicit activity a threat to financial stability
- Everybody with fingers on the trigger for the "Bitcoin under $10,000 post"
- Preview of today's Bank of Canada meeting - rate hike expected
- Preview #2 of Australian housing finance data due today
- Trade ideas thread - Wednesday 17 January 2018
- Bitcoin - where is the love? Lower again as US trading draws to a close
- Preview of Australian housing finance data due today
- NZ - ANZ Truckometer (December): -4.2% m/m (prior +1.1%)
- BOC preview: The market is uncertain and nervous
- Here is what's on the economic calendar due from Asia today (spoiler - more BOJ)
ICYMI, yesterday I headlines the Wrap with USD/JPY has a bit of a bounce ... so I recycled it today ;-)
USD/JPY made a fresh low early, getting itself under 110.20, very briefly, before meeting those buyers ahead of 110 again. The bounce has not been as big as yesterday's though, falling short of 110.75 today.
EUR/USD traded higher around the same time USD/JPY bounced. EUR/USD got as high as circa 1.2320, a 3-year high. Alongside were rallies for AUD/USD, NZD/USD, and cable. It was a weird day for news, it appeared progress was being made on averting a US government shutdown, at least for the coming week s(through to February 16), but closer detail revealed the votes may not be there on the GOP proposed plan. We await more detail from the politicians, but as of right now it appears the shut down later in the week is happening. Stay tuned I guess.
The EUR, AUD, NZD, GBP gains against the USD have been reversed as I update and all are little changed net on the session ... and in fact NZD/USD has lost a few points on the day.
On the data front, Australian housing finance data was a headline beat, indicating growth in construction sector could well be sustained longer than expected. We'll see about that.
USD/CHF was an idiosyncratic performer today, the CHF not really benefiting alongside those that gained earlier, and as I update its lower for the session against the USD.
And so to crypto. A crypt is where you bury people, and there sure was a great deal of burying going on in late US/early Asia trade - a huge loss for bitcoin et al.
But, there was some recovery and as I update its sliding again although it is above the early session lows:
