Forex news for Asia-Pacific trading on Nov 27, 2017
- Bitcoin jumps more than $1000 to $9600
- Shanghai Composite falls to lowest since August
- China Oct industrial profits +25.1% y/y vs +27.7% prior
- PBOC sets yuan mid-point at 6.5874 vs last close at 6.6028
- Japan PPI services +0.8% y/y vs +0.9% expected
- Ireland's EU Commissioner says they will "play tough" over Brexit talks
- Online US Black Friday sales up 17.9% yy
- Merkel still hoping "to get a German government in place quickly"
- EU's Tusk says 4 Dec the deadline for UK to improve Brexit divorce bill offer
Markets:
- Shanghai Comp -0.8% to 3326
- Nikkei -0.3% to 22491
- JPY leads, NZD lags
- Gold up $1 to $1289
China-led jitters are the story so far in trading but the overall moves are modest to start the week. USD/JPY climbed early but all the yen crosses faded after Chinese shares opened lower.
USD/JPY touched 111.69, topping Friday's high, before it turned around and slipped to 111.40.
AUD/USD hit 85.05 and then slid to 84.57, falling by as much as 0.5%.
EUR/USD came under some modest pressure in a slow slide to 1.1913 but it's crawled 10 pips off the lows.
There is some chatter about more trouble for Theresa May in Brexit negotiations and that's pushed cable 20 pips lower but it's still well-within Friday's range.
Meanwhile, Bitcoin is on an absolute scorcher and will undoubtedly be something you're hearing a lot about today.
