Forex news for Asia trading Monday 11 December 2017

Bitcoin futures - first day of trade!


Some minor currency moves to open the week in Asia today, but many eyes were on the launch of Bitcoin futures. Volatility there didn't disappoint, on its first ever day of trading the new contract triggered a circuit breaker (two!) after rising 20%, pausing trade. At +10% on the session trading stopped for 2 minutes and for 5 minutes at +20%. This is Bitcoin, the exchange may need wider limits :-D.

While not comparable n scale, forex markets had a notable move on the NZD, it spiked on news of the appointment of a new RBNZ Governor

Why? I'd suggest it was an excuse to run short stops, but I'm sure there will be a better narrative in time ;-)

EUR/USD has gained a few points on the session but is little changed really. Cable too is up from very early lows but again, not too much changed . AUD/USD hasn't matched the NZD for its move, but is a up a few points nevertheless.

Overall a subdued beginning to the week for most of the forex. It will be a busy week, though, with the Federal Reserve FOMC meeting, and meetings also at the ECB, BoE and SNB coming up: