Forex and Bitcoin news for Asia trading Friday 9 November 2018
- CAD - the Keystone XL pipeline has been blocked by Federal Court
- Response to RBA Statement on Monetary Policy, and what now from the Bank
- China inflation (October). CPI 2.5% y/y (expected 2.5%) PPI 3.3% y/y (3.3%)
- Poll shows expectations of a disorderly Brexit holding firm around 25%
- PBOC sets USD/ CNY reference rate for today at 6.9329 (vs. yesterday at 6.9163)
- RBA says no strong case for a near term change in cash rate (SoMP)
- Australian home loans for September -1.0% m/m (expected -1.0%)
- EUR/GBP trade - entry, target, stop loss
- An ICYMI for gold traders - SNB not buying, not selling
- Will the China - US trade war drag on? Most Japanese firms say yes
- UK PM May spokesman says will not agree anything that bring a hard Irish border
- UK Times reports the EU is planning a customs border in the Irish Sea if no Brexit deal
- ANZ market outlook - ''roiled by slowing growth, rising rates"(also on Brexit)
- Trade ideas thread - Friday 9 November 2018
- AUD/NZD trade recommendation - entry, target, stop loss
- US - China headlines crossing, no mention of trade war
- New Zealand ANZ Truckometer for October: +4.6% m/m (prior was -3.2%)
Yen crosses were the movers here today. USD/JPY continued its US-time gains in very early Asia trade but above 114 it stalled and has since been rejected. USD/JPY dropped 20-odd points and is circa 113.90 as of posting. Currencies continued their slide, but only barely. The ranges here were small only, which combined with the USD/JPY move has seen yen crosses taking the biggest loser crown for the session. EUR/JPY, for instance, is off 40 points (did I mention ranges were small only?).
There were news and data items (see bullets above), of most focusy the Reserve Bank of Australia Statement on Monetary Policy with a positive tone from the RBA (they have been seeing silver linings all over the place this lot, today's most notable being an expectation that wage growth is just about to pick up (they have, however, been saying this for a number of years now)). AUD fell away a few points on the release of the SoMP, with continued weak housing credit growth (a negative m/m) not a positive for it either, and has since slid further, bottoming just under 0.7240 as I post.
NZD/USD slid alongside. EUR, GBP, CHF all a little soft also to varying degrees but within small ranges.
Chinese inflation data hit expectations. The People's Bank of China further weakened the onshore yuan today, against a backdrop of USD strength overnight admittedly.
Still to come:
