Forex and Bitcoin news for Asia trading Monday 12 November 2018
- European markets open soon - here is some Italy weekend news
- Japan PM Abe wants more fiscal stimulus to support economy
- AUD: number of risk events ahead that could take a toll
- Comments from China's finance minister on lowering tax on firms
- US VP Pence says will speak with Japan's PM Abe about trade agreement
- PBOC sets USD/ CNY central rate at 6.9476
- China's Li Keqiang says country is committed to opening up economy
- Remember the EUR/GBP trade on Friday? Here is another
- New Zealand private monthly inflation measure 'kicking Q4 off on a softer note'
- EUR/USD and USD/JPY forecasts
- Japan PPI for October: 2.9% y/y (expected was 2.8%)
- Brexit approach has been great news for bunker building
- ForexLive exclusive pic of Boris and Jo Johnson Brexit plotting (only for fun!)
- Trade ideas thread - Monday 12 Nov 2018
- Bank updates to AUD and NZD views against the backdrop of a favoured USD
- NZ retail sales data, card spending misses estimates
- UK press reports PM May to cancel cabinet meeting to approve Brexit deal
- Boris Johnson mouthing off again - UK government on brink of total Brexit surrender
- AUD traders - busy data week coming up starting Tuesday
- French fin min says Eurozone will not last long without fiscal convergence
- Monday opening FX rates - 12 November 2018 - foreign exchange early indications
- Saudi Arabia to cut oil exports as much as 500,000 barrels per day in December
- Trump notes progress on trade with Europe, will see if "can get it over the line"
- Liam Fox: We may not be able to reach Brexit agreement with EU
- Video: The Fed and the big question about US-China relations
Some gaps opened in very early trade here in Asia today, lower against the USD for EUR, GBP, AUD, NZD; all down a few points from late Friday levels.
There were various news items about, noticeably from the usual Brexit weekend headlines weighing on GBP. Cable dropped to circa 1.2910 before gradually edging itself back higher to around 1.2940. Not a large range, and the same goes for EUR/USD. It dropped a few points early and then retraced partially.
AUD and NZD were outperformers; after both opened with small gaps down of their own they each traded back up, retracing and then added gains. Having said that they have since stabilised to be little changed from late Friday. Some positive indications from China (industry support type statements) did them no harm, but news flow was otherwise light.
USD/CAD has fallen (stronger CAD), given a little nudge by higher oil prices. Saudi talks of cutting oil production and exports gave oil a boost in early trade for the week.
USD/JPY has had a subdued and steady tiptoe higher, above 114 in a small range only. AUD/JPY and NZD/JPY have been solid performers (relatively) on the session.
Gold is little changed from late Friday.
Still to come:
- FX option expiries for Monday 12 November 2018 at the 10am NY cut
- Coming up in US and Cad time today - holiday! And Fedspeak
- AUD traders - heads up preview for business conditions and confidence data due Tuesday
- Heads up for FX options expiry in coming days
- US inflation data a focus for the week - CPI preview
- What's coming up in the week ahead
