Forex and Bitcoin news for Asia trading Monday 21 May 2018
- Chinese State TV says cryptocurrency bubble continues to grow
- Goldman Sachs Elliot Wave technical analysis on gold - levels to watch
- PBOC sets USD/ CNY reference rate for today at 6.3799 (vs. yesterday at 6.3852)
- German eco min says govmt will help German firms with business in Iran where it can
- Survey - British CEOs turn more pessimistic about growth outlook
- Sony to buy out EMI Music Publishing (deal around 1.9bn USD)
- Australia - weekly ANZ Roy Morgan survey of consumer confidence: 121.6 (prior 120.8)
- Spoofing, front-running, manipulation in cryptocurrency trade ... forewarned is forearmed
- German fin min report says current upturn in economy to continue
- Goldman Sachs on EUR/USD and the levels to watch
- Citi sees a need for the US to offer investors a discount on its assets (i.e. USD)
- Trade ideas thread - Tuesday 22 May 2018
After the weakness on the USD during the US timezone Asia did little, with moves in small ranges nearly across the board.
USD/JPY managed to make a fresh low (compared with overnight trade), dipping under 110.90. EUR/USD hovered mainly circa 1.1790 but has lost a few tics as I update.
Cable was a little more interesting, its been rejected from circa 1.3435 again ahead of a day jam-packed with central bank speakers:
AUD and NZD both traded mainly sideways, as did USD/CHF.
There was very little news nor impactful data. We did get comments from the BOJ governor and deputy governor, but nothing to shock us from either of them:
- BOJ dep gov Wakatabe: BOJ can achieve price target with current policy
- BOJ's Kuroda - no change in commitment to hit inflation target ASAP
- More Kuroda: Prolonged low rates could push down household income, consumption
- BOJ Governor Kuroda says Japan's economy is expanding moderately
Also, Fed's Kashkari spoke:
- Fed's Kashkari comments on how cryptocurrencies have become "a farce"
- More from Fed's Kashkari - comments on US interest rates
- Fed's Kashkari says might still be slack in jobs market, wages not picked up
Still to come:
And for a rangy sort of day: