Forex and Bitcoin news for Asia trading Monday 11 June 2018
US President Trump made nice at the face to face G7 meetings but once he was back safely on his plane he started with bully tweets again. Initially it was attacks on Canadian Prime Minister Trudeau:
- CAD the big mover in very early Asia forex trade - Trump reneges on G7 agreement
- Merkel: US withdrawal support for G7 communique via tweet is sobering, a bit depressing
- CAD, yen big movers in early Asia - and a note on liquidity ICYMI
- US President Trump makes fresh attack on Canada's PM Trudeau
The CAD traded weaker in the very early Asian Monday opening. While New Zealand was operating Australian markets were closed today, leaving market liquidity reduced for a longer period than normal this Monday.
USD/CAD traded higher but has put in a bit of a retrace as I update:
Later, Trump tweets went after the European Union
and then Germany
Trump then brought up 'enemies':
The impact on EUR was minimal, its has managed to net trade higher against the USD on the session. AUD and NZD too have net gained against the USD, as has GBP.
USD/JPY opened a little weaker but has since retraced to be little changed on the session before popping for a gain on the day to be above 109.70 at one stage.
Bitcoin had a shocker of a weekend:
- Bitcoin update - it hasn't had a good weekend
- BTC: Investigators to probe whether manipulation is distorting cryptocurrency prices
Other:
- PBOC sets USD/ CNY reference rate for today at 6.4064 (vs. Friday at 6.4003)
- US military has confirmed pilot is safe after crash of US jet into sea off Japan
- Japanese data: Core machinery orders for April: +10.1% m/m (expected +2.4% m/m)
- ICYMI: China inflation data (May) was out over the weekend
- UK press: Market jitters caused by Italy politics could delay Greek bond issue
- NZ data - total volume of manufacturing sales up 1.4% q/q for Q1 2018
- Weekend: Italy's Economy Minister says the country is not going to leave the euro
- Trade ideas thread - Monday 11 June 2018
- Swiss voters reject Vollgeld 'sovereign money' initiative at referendum
- Monday opening FX rates - foreign exchange prices indications
Weekend:
- So it is off to Singapore with hopes of peace, while G7 is not peaceful
- G7 on trade: Some emotion but civilized, diplomatic
Still to come:
- Forex order expiries for Monday 11 June 2018
- North Korean state media: Summit between Kim & Trump will discuss denuclearisation
ps. Its FOMC week:
