Forex and Bitcoin news for Asia trading Thursday 25 January 2018
- Bitcoin buyers quietly making their move
- USD slipping again - update
- Mexican central bank governor expects inflation rate to continue to slow
- China speaking softly on trade protectionism ... but carrying a big stick
- Draghi has been Alex the seal since December but today he speaks - risk for the euro
- NZD - RBNZ's own inflation model comes in at 1.4% y/y (unchanged from Q3)
- ECB meeting today - MOAR preview
- South Korean Q4 GDP - surprise contraction
- PBOC sets USD/ CNY reference rate for today at 6.3724 (vs. yesterday at 6.3916)
- Moody's say credit conditions in Asia to be stable in 2018
- Credit Agricole on AUD implications from the increase in US protectionism fears
- CPI fun don't be done - Japan data due Friday - previews (quickies)
- More from MS on the ECB meeting today - a word (or two) on FX - what for the euro?
- NZ labour law amendments announced (and efforts to lift wages)
- Its ECB Thursday - what does Draghi have in store for us? Here's a preview (plural!)
- US President Trump says wants a USD25bn fund to build the wall
- Response from ANZ to the NZ CPI miss - RBNZ on hold until the middle of 2019
- We just had the NZ Q4 CPI data, Australia's is due next week - what are the implications?
- Ladies and gentlemen trading the NZD ... MOAR inflation data to come today!
- NZD after the inflation data ... No soup for you!
- ForexLive Americas FX news wrap: US dollar dumped
- NZ Q4 CPI: 0.1% q/q (expected 0.4%)
- Trade ideas thread - Thursday 25 January 2018
- NAFTA - Canada reported to suggest ideas on review clause over sunset clause
- NZ fin min says activity levels pointing to growth in GDP
- Dow closes at record, but the tech market lags
- Ahead of NZ inflation data, budget projections looking better than expected
- Economic calendar due from Asia today - CPI data from NZ coming up soon
The day got off to an active start for NZD traders, with the release of Q4 CPI from New Zealand. It was a huge miss on expectations (0.1% q/q vs. 0.4% median consensus) and the NZD was marked lower (from circa 0.7430 to around 0.7350 and then lower again in following minutes).
I posted on buyers circa 0.7330 and they held (it dipped towards 0.7325 before bottoming) and as I update its spent the past few hours grinding it out back up again, to a high just above 0.7385 (as I post). NZD/USD was helped on its uphill course by a weak USD: EUR, AUD, GBP all making fresh highs against the big dollar compared to the overnight trade.
USD/JPY topped above 109.40 and has slipped from there but is above its overnight low. USD/CHF is barely hanging in there also.
Apart from the NZ data news and data flow was slow - Korean Q4 GDP showed a surprise contraction (see bullets above).
We await the ECB meeting and Draghi's presser during the Europe session.
- Draghi has been Alex the seal since December but today he speaks - risk for the euro
- ECB meeting today - MOAR preview
- Its ECB Thursday - what does Draghi have in store for us? Here's a preview (plural!)
- More from MS on the ECB meeting today - a word (or two) on FX - what for the euro?
- European Central Bank meet Thursday - preview: "Tricky"
- A preview of the European Central Bank meeting coming up Thursday
- ECB meet this week - preview
- Two things to expect from the ECB
