Forex news for Asia trading for Monday 11 January 2021
- Bank of Canada business survey due on Monday - what to expect
- There are two Federal Reserve speakers on the docket for Monday
- US Ambassador to meet Taiwan's President on Thursday
- Trump's 2nd impeachment will likely be this week, a conviction could take until mid-April
- China inflation data for December: CPI +0.2% y/y (expected 0.0%) & PPI -0.4% (expected -0.7%)
- PBOC sets USD/ CNY reference rate for today at 6.4764
- FX option expiries for Monday January 11 at the 10am NY cut
- US examining further options to respond to China over HK arrests, virus
- Australia Retail Sales for November, final: +7.1% m/m (prior +1.4%)
- Australia data - monthly inflation report (December) 1.5% y/y
- South Korea 1st ten days of January exports +5.8% y/y per working day
- Pelosi: US House will bring Trump impeachment legislation to the floor
- Weekend - Reserve Bank of New Zealand responding "with urgency" to a hack
- Goldman Sachs 2021 gold forecasts (to end the year higher ... WTI forecasts too)
- Old news (ICYMI) --> "Bitcoin holders barred from depositing profits in UK banks"
- New Zealand November job indicators, headline (sa) -0.3% m/m
- Japanese markets are closed for a holiday today, Monday 11 January 2021
- Trade ideas thread - Monday 11 January 2021
- Goldman Sachs, Morgan Stanley, JPMorgan to delist 500 Hong Kong-listed structured products
- Monday morning open levels - indicative forex prices - 11 January 2021
- The US is to remove all of its restrictions on its relationship with Taiwan
- Six new reasons for a US dollar rally
BTC/USD has had some large price swings in late weekend/early Monday trade and is on its lows for the session in Asia as I post, under US$34,000. The weakness for bitcoin came in the wake of weekend moves from BitStamp as it started halting XRP trading and deposits for US customers (order placing and deposits having already being disabled, open orders being cancelled). This was early in the weekend, later news saw Coinbase services down for a period of time).
If you use BTC as a sentiment indicator it may well have served you well for the day here, currencies and gold lost ground against the US dollar, and US equity index futures softened to open the week. On the news front there are many potential catalysts:
- The US military is opening domestic terrorist cases on 25 members involved in the assault on the Capitol last week
- US House leader Pelosi has set in train steps for the second impeachment of Trump, which could be completed as soon as this week, although a conviction (if it comes) could take as long as mid-April
- The US removed all its self-imposed restrictions on its relationship with Taiwan and the US Ambassador to the UN will meet with Taiwan's President on Thursday - moves that will anger China
- The US is also canvassing other options to respond to China in the wake of the arrests (50+) in Hong Kong last week
Rising US yields a usual suspect also.
BTC/USD weekend gyrations & Asia Monday:
