ForexLive Asia FX news wrap: USD/JPY a slow, small grind up
Forex and Bitcoin news for Asia trading Wednesday 13 June 2018
- RBA Gov Lowe: Likely next move in rates is up not down, but not in near term
- Reuters Japan poll shows even split (2019 or 2020) when BOJ will start unwind
- Trump says no war games while negotiating in good faith with North Korea
- PBOC sets USD/ CNY central rate at 6.4156(vs. yesterday at 6.4121)
- Meanwhile, in the real world - Japan plans to bolster ballistic missile defence
- Australian June consumer confidence data: +0.3% m/m
- Australia - weekly ANZ Roy Morgan survey of consumer confidence: 123.0 (prior 116.5)
- NZ data: May food prices flat at 0.0% change m/m (prior +0.1%)
- More: Gundlach says 'excellent time' for a partial shift into emerging markets
- Japan set to loosen immigration rules for guest workers: to allow up to 0.5m in
- More from Gundlach: Expect oil to rise toward $80-90 a barrel
- Trade ideas thread - Wednesday 13 June 2018
- Jeff Gundlach says global growth is slowing but there are no winds of recession
A morbid session with only a little yen movement notable.
USD/JPY gained from around 110.35 to circa 110.65 (as I update). USD/CHF managed a similar size gain, 20 or so points. Elsewhere moves were smaller still.
AUD/USD is off 5-10 points (depending on where you want your start point to be), while NZD/USD, EUR/USD, cable ... all barely changed.
News flow was barely existent, while on data we got a few minor tier pieces of info only.
One thins that might be worth noting is that US President Trump was interviewed on Fox. The focus was mainly on the summit, of course, but he did mention China and trade - that China's agricultural purchase commitment from the US was not enough. This could have implications for the 15th June and new tariffs - watch your risk trades on Friday and in the lead up (ps. China stocks are down at the lunch break today, Shanghai Comp down 0.8%)
For now though the focus is on what is still to come today and tomorrow … Still to come:
- UK inflation data due Wednesday 13 June 2018 - preview
- Forex options expiries for Wednesday 13 June 2018
- Federal Reserve FOMC meeting today - preview
- FOMC today, ECB on Thursday (preview)
- Large option expiries coming up for the rest of the week
- Not long until the Australian jobs report - preview (Thursday)
- BOJ June 2018 meeting - heads up and preview (Friday... )