Forex news from the Asian trading session - 29 January 2018:
Headlines:
- A rough estimate at how much NAFTA uncertainty has hurt the Canadian dollar
- The Fed will take a 'slightly hawkish' turn this week - Goldman Sachs
- Trump faces a Monday deadline to impose Russian sanctions
- Canada and Mexico hold 'red line' on NAFTA arbitration but talks positive
- Japan MOF, BOJ and FSA officials to meet Monday to discuss markets - report
- Crytocurrencies take a leg lower. Talk of stops
- PBOC sets yuan mid-point at the strongest since Nov 2015
- National 5G network debate still at low level, 6-8 months away from Trump decision - report
- The rumors were true: Tether has abandoned its audit
- The White House is considering nationalizing 5G cell phone network - report
- Big tech company earnings will be a focus this week. Here are the highlights
- Theresa May has plenty of critics in the UK; now she has one in the White House too
- Trump doesn't plan to use State of the Union to quit NAFTA - report
- Finland's President has a vacancy to fill at the ECB
- Bank of Japan said there is no need to issue cryptocurrency because there is no demand
- The ECB's Knot had some hawkish comments on Sunday
It was a session with nothing much on the economic calendar, but some action to be had. Things started off rather slowly, but in general the pickup in liquidity sees the dollar march ahead as the top performer on the day. The PBOC strengthened the yuan once again in today's fixing, but Asian currencies are generally mixed against the greenback as we start off the week.
Meanwhile, in equities it's mostly another positive day in Asia following the mood of US stocks on Friday. There are some key earnings releases in the US this week, so just be on the lookout. You can check out Adam's post here for more details.
In the cryptocurrency space, prices were dragged lower early in the day and has been trading thereabouts since. Not a whole lot happening yet, but you never know when it comes to cryptocurrencies - things can happen in a flash.
News on NAFTA talks continue to creep in, and there should be more coming later in the day as well. So, keep your eyes peeled for that.
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