Forex and Bitcoin news for Asia trading Tuesday 16 October 2018
- China inflation data recap
- Huge US budget deficit increase, up by 30% in a year!
- RBNZ's own inflation measure, 1.7% y/y for Q3
- Japan's fin min Aso says US Treas Sec Mnuchin has not mentioned currencies
- CA analyst says the People's Bank of China will defend 7 in USD/CNY
- China September inflation: CPI 2.5% y/y (expected 2.5%)
- PBOC sets USD/ CNY central rate at 6.9119 (vs. yesterday at 6.9154)
- RBNZ accepts the inevitable, invites Treasury observer to monetary policy meetings
- US cryptocurrency exchange Coinbase expanding Dublin office on Brexit uncertainty
- RBA October minutes: Fall in AUD helpful for domestic eco growth
- Citi analysts; ‘There is only one standout safe haven currency to own’ (spoiler, its yen)
- UK taxes to go to their highest since 1940s says IFS
- A huge jump in the number of Japanese firms impacted by US - China trade war
- Australia weekly consumer confidence data 119.5, from 117.3 the previous week
- NZ inflation data driven by petrol prices, core still subdued. NZD giving back some gain.
- News that Microsoft co-founder Paul Allen has died
- NZ Q3 inflation, CPI 0.9% q/q (vs. expected 0.7%)
- EUR/USD: Here is a forecaster tipping a 40% decline for the USD against the euro
- UK PM May met Sinn Fein leader to discuss Brexit negotiations with the EU
- Trade ideas thread - Tuesday 16 October 2018
New Zealand kicked off the Asian session today with third quarter CPI data. The read came in higher than expected and saw the kiwi marked higher immediately. NZD/USD topped out soon after ahead of 0.6600 and has spent the balance of the day here slowly ticking down just a few points.
AUD/USD added about 10 points alongside the higher NZD/USD and then settled sideways and eventually coming back to be pretty much unchanged. Speaking of unchanged, the RBA minutes provided nothing to surprise, with broadly familiar matters raised once again.
Chinese inflation data for September was a touch higher than August although under the 3% target level. PPI dropped. Its a very mixed picture from China, the trade data showed exports rising, and not slowly, this despite the accelerating trade restrictions imposed by the US.
The PBOC set the CNY a little stronger today, reversing a string of weakening's.
We received more inflation data from NZ in the afternoon, an RBNZ measure of core inflation coming in unchanged on Q3 from Q2. Kiwi did little on the release.
Regional stocks had gained early here but there has been a turn around (for the Shanghai Comp at least) to little change on the session as I post.
FX land was subdued. USD/JPY popped above 112 (its straddling there as I update), EUR, GBP, CHF, CAD, gold, all a little lower against the big dollar.
Still to come:
