Forex and Bitcoin news for Asia trading Wednesday 10 October 2018
- One for the Bitcoin technical analysts – chart suggests its biased for a fall
- Fed Williams: So far have not seen much impact of US economy from China tariffs
- RBA dep head of Economic Analysis Dept speech - full text
- NZ finmin Robertson says says its prudent to run surpluses, pay down debt
- More Fed Williams: US normalisation benefit - reducing imbalances in financial markets
- IMF on global debt, its 50% higher than at the beginning of the GFC 10 years ago
- PBOC sets USD/ CNY mid-point today at 6.9072 (vs. yesterday at 6.9019)
- Fed's Williams: Says again expects gradual rate rises
- More on the strong machine orders data from Japan
- US President Trump says can build the wall in a year, going up right now
- Japan data - August Core Machine orders +6.8% m/m (beats expectations of -3.9%)
- UK Times on expectations of an effective customs union with EU after Brexit
- Australia Westpac October Consumer Confidence: +1.0% m/m (prior -3.0%)
- UK car industry launches contingency programme for "no deal" Brexit
- UK TV report progress being made on Irish border Brexit negotiations
- Morgan Stanley reminded of fall of ' 87 - 'The 1987 playbook'
- NZ Card Spending (September): Retail 1.1% m/m (expected 0.6%)
- Westpac's updated AUD/USD view - short term risk of 0.69
- US Treasury currency manipulator report due next week, China to be named?
- NHC says Michael strengthens to a major hurricane, life-threatening storm surge
- Trade ideas thread - Wednesday 10 October 2018
Currencies generally (not all) continues their US time gains against the US dollar here during the Asian morning. EUR, AUD, NZD, GB, CHF all gained slowly, adding on on not too much (this is Asia after all).
The Australian dollar was helped along by a slightly improved consumer confidence result in the most recent data, but its not as if the small change gave it too much of a boost, a weaker USD was the more weighty factor.
Currencies have stopped rising as I post this update.
There was no news of impact. We got some comments from a Fed President (Williams, NY).
Data was the Australian consumer info, already mentioned, NZ spending (higher on the month) and Japanese machinery orders, a huge beat and a big positive for capex going forward. Speaking of Japan, the yen did very little today. While other currencies added a little strength yen has been barley net changed.
The PBOC weakened the CNY against the USD again today, not by much but enough to take CNY to its lowest against the big dollar at the setting since mid-March of 2017.
Still to come:
