Forex and Bitcoin news for Asia trading Monday 20 August 2018
- Latest Bloomberg survey shows economists cranking up expectations for BoE rate hikes
- PBOC sets USD/ CNY central rate at 6.8718 (vs. yesterday at 6.8894)
- Some (not much) chatter of an early Australian election
- Head of Mersk says US will be hit harder than the rest of the world by trade war
- Italy's Giorgetti says hopes ECB QE program will be extended to help protect the country
- Barclays trade of the week is short AUD/USD
- ANZ change their call on RBNZ, see balance of risks pointing to a cut
- UK Rightmove house prices (August) -2.3% m/m (prior -0.1%)
- Japan - Weekend press on BOJ 'stealth tapering' in the stock market
- Japan's governing party will have a leadership vote on September 20
- German finance ministry says TRY crisis an additional risk to German economy
- AUD traders - heads up for some politics - looming challenge to Prime Minister
- PBOC moves to curb arbitrage funds from shorting RMB
- 20 August is the date marking the formal end of the bailout of Greece
- Qatar and Turkey central banks sign swap agreement
- Italy government €80bn plan to rebuild infrastructure … 'smash EU budget rules'
- Weekend China: Beijing orders banks to boost lending to exporters
- EU migrants will be given right to stay in event of no-deal Brexit (Cabinet papers)
- Trade ideas thread - Monday 20 August 2018
- Buba head Weidmann says ECB on course to normalise monetary policy
- Weekend - North Korea to allow UN agency to conduct on-site missile safety inspection
- Weekend - Venezuela to peg currency to the value of its cryptocurrency starting Monday
- Monday morning open FX levels - indicative forex prices 20 August 2018
- 10 years of the things we've learned at ForexLive
- White House budget director says on track to avoid gov't shutdown
- Iran tells OPEC not to take its share of exports
The FX opened Monday morning here in Asia, but I don't think anyone noticed. There was plenty of weekend news, some of which seems quite significant (Italy, for example). But moves have been very subdued with tiny ranges across the board.
NZD/USD is down around 25-odd points from early levels, taking a gold star for wild swings today (I jest). AUD/USD is down a little also, maybe 15 points if that for the session. We have had some speculation on a Federal government leadership challenge, hence the wild drop for the currency (ditto on the jest, right?). Political volatility might impact the AUD but so far there is little sign, watch this space.
There were the usual Brexit headlines, one of which is above. GBP did little on the session.
USD/JPY is barely changed, USD/CHF is a touch weaker.
The People's Bank of China added a little strength to the yuan today at its daily reference rate setting.
Still to come:
- Monday 20 August 2018 FX option expiries at the 10am NY cut
- Events to watch for in the week ahead
- RBA minutes due Tuesday 21 August - preview
- Coming up (much) later - speech by RBA Governor Lowe
- AUD traders - 3 items to watch for coming up from the RBA this week (plus 1*data)
- Federal Reserve Chair Powell is speaking Friday - what to listen for
