Forex and Bitcoin news for Asia trading Tuesday 19 June 2018
- North Korean Kim Jong Un is in Beijing today says state media
- All done - PBOC injects 200bn yuan through 1-Year MLF
- China's Comm Min says US trade war will hurt firms, people of US and China
- RBA minutes: Rise in AUD would slow inflation and growth
- PBOC sets USD/ CNY reference rate for today at 6.4235
- Former BOJ official says the BOJ should just give up on inflation
- Australia - ANZ Roy Morgan weekly consumer confidence drops to 122.1 (123.0 prior)
- Trump has asked US trade rep to identify $200b in Chinese goods for more tariffs
- "AUD lacks any catalyst to pursue a sustained move higher"
- ING highlight "a real source of menace" for the Australian dollar
- US Commerce Dept says China aluminium sheets being dumped in the US
- South Korea and the US agree to suspend military drills
- Trade ideas thread - Tuesday 19 June 2018
The headline to the wrap was the driver of moves today, link is here:
The potential escalation in trade wars sent AUD lower and yen higher, AUD/JPY copped it:
Other yen crosses were down, USD/JPY is off around 65 or so points from the US end of day, a big factor.
Regional stocks are lower alongside.
So, yeah, it was pretty much all about trade tensions again today. We got some liquidity easing moves from China, with short-term and year-long cash injections and also minutes from the RBA. The RBA hit familiar themes in the minutes but notably dropped the comments that the next move in their cash rate was likely yo up rather than down. Apart from that they were not downbeat - gradual improvement for the economy and towards their policy goals is what they expect.
AUD/USD had a bit of a bounce from its earlier lows and is pretty much mid-range for the day (just below)as I update.
Cable gained for the session, as did EUR/USD and gold.
Still to come:
