Forex and Bitcoin news for Asia trading Wednesday 21 November 2018
- Japan data - All Industry Activity Index for Sept. -0.9% m/m (prior +0.4%)
- More on the US Treasury saying China has failed to alter unfair trade practices
- China tells market analysts to adhere to the party line in research
- ICYMI - Oil 'God' sees recovery in price for crude
- The extraordinary EU Brexit summit is scheduled for this weekend - what to expect
- New Zealand data - credit card spending for October: -0.1% m/m (prior +0.8%)
- PBOC sets USD/ CNY reference rate for today at 6.9449 (vs. yesterday at 6.9280)
- China press (opinion piece) says not to expect much monetary policy loosening
- GBP, Brexit and UK politics - here is why Prime Minister May is safe
- Australia - Westpac's Leading Index for October: +0.08% m/m (prior -0.06%)
- UK Times reports - 'Voters rally behind PM May'
- US Trade Rep says China has not altered its unfair market practices
- JP Morgan is still looking for 4 Fed rate hikes in 2019 (and a higher USD)
- Trade ideas thread - Wednesday 21 November 2018
- Private survey oil data shows surprise draw in headline crude inventories
Emphasis on small, K? The Australian and New Zealand dollars had slumped in overnight trade (along with other currencies, equities, industrial commodities also) but found a small bid here in Asia today. USD/JPY was a gainer (small too), which prompted some of the shorts in yen crosses to take some in. EUR, GBP, CHF and CAD were all lacklustre though, not doing too much at all. So, an outperformance for the two down under currencies.
News flow was light indeed, not much of market impact. Of most note was the report from the US Treasury saying China's unfair trading practices persist. There are still expectations that Trump and Xi will get something agreed to ahead of the G20 summit (Nov 30 - Dec 1) but Lighthizer will keep the pressure on the White House with this report.
Oil had a price pop on the private inventory survey results (surprise draw) and managed to sustain that gain in Asia.
Still to come:
