ForexLive Asia FX news wrap: USD/JPY has a bit of a bounce
Forex and Bitcoin news for Asia trading Tuesday 16 January 2018
- 9 cryptocurrency hedge funds that surged almost 1,200% (as a group) last year
- Five shocks that could potentially derail the emerging market rally
- UK inflation data due Tuesday - yet another preview
- Heads up for AUD traders - Barclays warning of an imminent sell off in iron ore
- China's fake data has been masking how well the economy is really doing now
- More on the comments from Japan's Aso and Motegi - responding to strong yen
- UK inflation data due Tuesday - another preview
- Bitcoin sliding again, been soft most of the session
- UK inflation data due Tuesday - preview
- Large USD/JPY option expiry to keep an eye on
- Japan economy minister Motegi - closely monitor impact of FX moves
- Higher USD move washing over into EUR, CHF, AUD ... not just USD/JPY now
- PBOC sets USD/ CNY central rate at 6.4372 (vs. yesterday at 6.4574)
- Japan finance minister Aso says no comment on FX levels
- Citi analyst says USD/JPY needs to go to 118 for the BOJ to change policy
- Big trading event coming in London today (spoiler - it's the dairy auction. NZD traders note)
- More on China's ratio of Treasuries in FX reserves unlikely to fall in 2018
- Moody's on rising European interest rates - and their forecasts for US, EUR, UK rates
- Was the USD/JPY drop to circa 110.35 the final gasp in the down move?
- Japan data - Dec PPI +3.1% y/y (expected +3.2%)
- Sth Korea fin min says irrational speculation in cryptocurrencies
- More bitcoin warning from South Korea - Govmt may ban crypto trading
- Greek January - December government budget surplus beats target
- China press: Ratio of Treasuries in Chinese forex reserves is unlikely to fall in 2018
- Australia - weekly consumer confidence 123.5 (prior 122.0)
- Bitcoin price manipulation: "Unregulated cryptocurrency markets remain vulnerable ... "
- Nissan says it an Mitsubishi may add more US car production capacity
- New Zealand - Card spending (December): Retail +0.5% m/m (vs. expected 0.5%)
- Trade ideas thread - Tuesday 16 January 2018
- Buckle up for the economic calendar due from Asia today
- More from NZ - Q4 employee confidence highest since before 2008 GFC
- NZD - NZIER business confidence survey for Q4 down to -12 (prior 5)
- ForexLive Americas FX news wrap: No holidays for the dollar bears
The day kicked off with some New Zealand data, business confidence down but employee confidence up, which combined had little immediate impact on the NZD.
Australian consumer confidence (weekly data) gained again, consolidating a big jump the prior week with further improvement this. The Reserve Bank of Australia will be watching to see how this translates into consumer spending (if it does). Again, little immediate currency impact.
Meanwhile, South Korea was making noises on crypto and Bitcoin again - the finance ministry warning of irrational speculation and once again waving the 'regulation' stick. Over the course of the session here BTC has lost some ground, down around 4%. Huh, I just described a fall of 4% as 'lost some ground'. OK, a big drop for it.
Japanese business-level inflation was next (PPI for December), a touch lower than expected but showing signs of leaking through into consumer prices, at levels still well short of the 2% Bank of Japan target though (see bullet above for more detail). USD/JPY began to rise (along with other yen crosses) and fuel was added to the gain by the beginnings of jawboning from Japanese officials (Japan finance minister Aso: and economy minister Motegi), perhaps starting to try to stem the gain in the yen.
The Australian dollar lost a little ground,w ith some USD strength also evident against the EUR, CHF, GBP, NZD. But the losses for these currencies against the USD was small only. EUR, CHF, GBP, CAD are all very little net changed on the session. AUD/USD and NZD/USD are a few pips lower (though if you said little changed also you'd be correct).