Forex and Bitcoin news for Asia trading Thursday 20 September 2018
- Alibaba's Ma says make preparations for 20 years of China/US trade friction
- New cryptocurrency platform, Elixxir to process thousands of transactions a second
- Pompeo says ready to transform US-DPRK ties immediately
- Japan authorities conducting emergency checks on cryptocurrency exchanges
- AUD/NZD to 1.20 says this fund manager - TOTes why
- PBOC sets USD/ CNY reference rate for today at 6.8530 (vs. yesterday at 6.8569)
- A rate hike on the cards from the BOJ - perhaps before year end says this analyst
- Australia - private sales data shows 26 consecutive months of growth in spending
- New Zealand Q2 GDP: +1.0% q/q (expected 0.8%)
- Lithuanian President says Brexit talks at a standstill
- Nafta - Freeland says meeting with Lighthizer was constructive
- Trump to nominate a former Fed economist to the board of governors
- UK PM May set to tell EU to drop unacceptable Brexit demands
- The EU has launched an antitrust investigation into Amazon
- Trade ideas thread - Thursday 20 September 2018
The NZ Q2 GDP data dogs breakfast continued today. You'll recall from Tuesday the New Zealand Prime Minister commented on the data two days before its release;
With an official quickly denying, saying no she didn't see it ....
Yeah, well, that was followed today by Stats NZ releasing the GDP a minute early by mistake (actually the embargo was lifted one minute early, which amounts to the same thing) and have now said they will ensure equal access to the data in future.
Its a circus down here in the antipodes.
Anyway, the data. Yes, as Ardern said two days ago, pleasing. It came in at a solid beat (see bullets above). The NZD was marked higher immediately and has sustained there on the session and advanced a little further.
There was little other fresh news nor data to drive currencies here in Asia today. USD/JPY has dripped a few points lower from around 112.30 to under 112.15. EUR/USD is up around 15 points from its early session lows. GBP, CHF both a touch stronger against the USD also.
USD/CAD is little changed with no Nafta developments to note today. AUD/USD is barely changed.
Still to come:
- UK Retail sales due Thursday - preview
- SNB monetary policy meeting announcement coming up - preview
- Swiss National Bank meet Thursday - preview (spoiler: no change)