Forex and Bitcoin news for Asia trading Friday 21 September 2018
- NZ data - credit card spending for August +2.6% m/m, vs. July was -1.1%
- More on S&P lifting their outlook for Australia
- Japan finance minister Aso - need to ensure sales tax hike next on schedule
- Japan PM Abe and US President Trump to meet September 23
- Japan econ min Motegi: Wants 'win-win' outcome in trade talks with Lighthizer
- PBOC sets USD/ CNY mid-point today at 6.8357 (vs. yesterday at 6.8530)
- BOJ has cut the amount of 25+ year JGB purchases by Y10bn to Y50bn today
- Morgan Stanley long EUR/CHF trade (entry, stop, target)
- Goldman Sachs cuts its forecasts for gold (gold price pops)
- Japan manufacturing PMI for September, flash: 52.9 (prior 52.5)
- Former BOJ board member Shirai: "the likelihood of achieving 2% inflation is low"
- Japanese inflation data, headline CPI for August: 1.3% y/y (expected 1.1%)
- SG's 7 key calls and implications for currencies (1st place goes to the AUD)
- Trade ideas thread - Friday21 September 2018
The yen was the mover, albeit only small, in Asia today. Sentiment in the market was said to be leaning risk on (more on this is a moment) sending a bit of flow out yen. USD/JPY and in turn yen crosses are little higher on the session.
The risk on, if that's what it was, seemed confined largely to stocks though with very little movement on currencies. EUR, GBP, AUD, NZD have barely moved. Oh, the HKD did have a sharp jump and shorts were squeezed.
Gold popped above 1208 on a small stop loss run.
Just on the Australian dollar, check out a longer term chart and have a look at the area around 0.73. Price appears to be on approach to a down trending line and it could well be sticky just above the figure.
Data flow today - the focus was Japanese CPI (August) although the release saw yen barely move. Core is still missing target, of course. The BOJ trimmed its purchase of JGBs today, the very quiet, very tiny stealth taper tip toes along.
Still to come: