Forex news for Asia trading Friday 26 April 2019
Look, ICYMI (I don't how you would have, but just in case) Japanese markets are closing for 10 consecutive days after today. April 27 to May 6. Loads of public holidays running together. So, how does one get a job in Japan? I know, asking for a friend, right?
Anyway, a heads up!
- Japan's Financial Services Agency is warning of possible increased volatility in financial markets.
- Japan 10-day market closure ... here's the reason there is huge fear of a yen flash crash
See you May 7!
Cryptocurrencies were big movers early here with news crossing of another scandal. Funds gone missing. You know the drill. Talk is the missing funds will total circa USD 850 million. The New York Attorney General has taken action against Bitfinex:
- NY AG alleges cryptocurrency exchange operator concealed missing funds
- Another cryptocurrency bad news story ... taking a toll on a hapless bitcoin
- Hope y'all got the heads up - Bitcoin, Tether prices hammered lower
Bitcoin dropped from above 5400USD to under 5100 before heading back towards 5300. Its just under there as I post
Other:
- Goldman Sachs have raised their US Q1 GDP forecast - preview
- China President Xi says will not pursue yuan deprecation that harms others
- Japan press: US and Japan at odds over linking currency to trade
- Australian Q1 Import price index -0.5% q/q (expected 0.4%) & export price index 4.5% q/q (expected 3.5%)
- Australian PPI for Q1 of 2019: 0.4% q/q (prior 0.5%) and 1.9% y/y (prior 2.0%)
- Recap of Poloz earlier - what would prompt the Bank of Canada to start hiking again
- PBOC sets USD/ CNY mid-point today at 6.7307 (vs. yesterday at 6.7307)
- Forex options expiring at the 10am NY cut today, Friday 26 April 2019
- More on the poor Japanese industrial output data (and the OK retail sales)
- BOJ senior official says its monetary policy aimed at inflation, not at a lower yen
- Heads up preview for the US GDP data due Friday
- More Japan data - Retail sales for March % m/m (vs. expected 0.0%)
- More Japan data - March Industrial Production (preliminary): -0.9% m/m (expected 0.0%)
- More Japan data - Jobless Rate for March: 2.5%(expected 2.4%)
- Japan data - Tokyo area CPI headline 1.4% y/y (expected 1.1%)
- BoC Gov Poloz: Not a looming recession for the Canadian economy
- Kudlow says Federal Reserve is moving towards a rate cut
- New Zealand Trade Balance March: NZD 922m (expected 131m)
- New Zealand ANZ Consumer Confidence April: +1.1% m/m (prior +0.8%)
- NZ media reports comments from RBNZ Gov Orr - room to cut rates if required
- Talk is of further back downs from the US in trade talks with China
- Trade ideas thread - Friday 26 April 2019
Currencies, however, were more sedate. EUR, GBP, AUD, NZD have all gained a little against the USD. The moves are all small. Helping the AUD along was data today indicating terms of trade improving again in Q1.
Mixed data from Japan today, with an improvement for retails sales in March but a very poor result for industrial production. Tokyo area inflation came in higher than expectations and priors across all three measures. Yen has barely moved.
