Forex and Bitcoin news for Asia trading Wednesday 17 October 2018
- Here is a forecaster looking for USD/CNY above 7
- CAD: sentiment turned; EM, interest rates fears have completely dissipated for now
- Nomura raises its forecasts for USD/JPY
- PBOC sets USD/ CNY mid-point today at 6.9103 (vs. yesterday at 6.9119)
- No sign of the US Treasury’s currency manipulator report … what to watch re China
- Here is a bank trade recommendation to short NZD/USD
- TD eyes US risks into mid term elections
- Australia Westpac Leading Index for September: -0.06% m/m (prior +0.06%)
- G7 issue statement on disappearance of Khashoggi
- China Premier Li says confident to achieve economic goals this year
- BRL: Brazil Bolsonaro says if elected central bank will remain independent
- More from RBA's Debelle: Drag on economy from lower house prices is unclear
- UBER said to be worth +100 billion USD … will issue 500mln debt at 7.5%? Go figure
- RBA's Debelle says unemployment could fall further before wages pick up
- More Fed's Daly: Stock market correction not necessarily a worrisome thing
- Trade ideas thread - Wednesday 17 October 2018
- Fed's Daly: Inflation effectively at target, beyond full employment, growth robust
- OIL - private inventory data shows surprise draw in headline stocks
- FT report that Barnier open to possibility of a 1-year extension of Brexit transition
A small range day across the board but a consistent move for the USD within.
USD/JPY kicked it off, in a small way, with a pop above 112.30 as new Trade drew to a close and then extended a few points higher throughout the Asian morning. It was more of a drift than anything else, and let me reiterate, small range.
EUR/USD has dropped away in the past 90 minutes or so, down 20 points or so from the session high. USD/CAD is up a similar number of points, USD/CHF not quite so much.
Cable, down small. AUD/USD, ditto. NZD/USD is barely net changed on the session.
XAU/USD wona few dollars. Oil popped further on the inventory data at 4.30pm NY time, a draw instead of the expected build shown.
Data was, well, we got the Australian leading index, which is an indicator I find very good, but it does not have an immediate FX influence upon release. Otherwise we got a few central bank speakers, Fed and RBA (see bullets above). News flow was thin also.
We have some UK data and FOMC minutes to look forward to in the hours ahead, previews below.
Still to come:
