Forex and Bitcoin news for Asia trading Tuesday 6 November 2018
- How RBA Governor Lowe's monetary policy statement changed in November
- RBA announce no change to monetary policy, as expected
- Goldman Sachs says the Federal Reserve is going to hike more than you think
- PBOC sets USD/ CNY central rate at 6.9075 (vs. yesterday at 6.8976)
- JP Morgan expect the USD to weaken after the US mid-term elections
- More UK data - card spending up
- UK data - BRC like for like sales October: +0.1% y/y (expected +0.5%)
- Japan September Overall household Spending -1.6% y/y (expected +1.5% y/y)
- Australian data shows consumer sentiment on the improve
- US and China officials to meet on Friday - diplomatic and security discussion
- Here's the other Brexit headline, not so supportive (Raab at it again)
- UK Times: EU to offer border compromise in Brexit boost for May
- Fund manager says UK the biggest global risk - which two banks for the big short?
- Here is one for the contrarians, anyone want to buy bitcoin?
- Trade ideas thread - Tuesday 6 November 2018
Wow, what a session here in Asia. Today's excuse for not doing much at all was the upcoming election in the US on Tuesday. Currency ranges were bottled up into very narrow ranges indeed.
Apart from the RBA news and data flow was non impactful. Let me rephrase that, including the RBA news and data flow was non impactful.
The RBA left its cash rate target unchanged at 1.5%, where its been for over two years now and this looks set in stone for some time to come. There were minor changes to Governor Lowe's statement, a little happier on the labour market and GDP growth, and yet again saying inflation is expected to pick up into the target area. AUD response was negligible. As a not today was a big sporting event day in Australia, the Melbourne Cup horse race. This can see thinner than usual liquidity in Australian financial markets. AUD did little all session.
NZD/USD has drifted off a few points. There is an RBNZ meeting this week and Wednesday morning (NZ time) will bring the latest quarterly jobs report.
EUR, GBP, yen, CAD, CHF all not too much changed, minor movement indeed.
Still to come:
