Forex and Bitcoin news for Asia trading Tuesday 11 July 2018
- Goldman Sachs: Sell off in metals on trade concern is overdone … BUT (its a big but!)
- Kim Jong un's private jet flew to Vladivostok on Monday. Kim preparing to meet with Putin?
- China inflation (June): CPI % y/y (expected 1.9%) & PPI % y/y (expected 4.5%)
- AUD - Australia Business conditions 15 (prior 15) & Business confidence 6 (prior 6)
- PBOC sets USD/ CNY central rate at 6.6259 (vs. yesterday at 6.6393)
- Trump picks Brett Kavanaugh, for the Supreme Court says NBC
- China press report a PBOC adviser says room for further liquidity injections
- SG on what are the key drivers for oil markets coming up
- Australia ANZ / Roy Morgan weekly consumer confidence: 120.1 (prior 120.4)
- More UK data: June Consumer Spending +5.1% y/y (prior +5.1% also) - Barclaycard data
- UK data: BRC Sales like-for-like (June): +1.1% y/y (prior +2.8%)
- New Zealand Card Spending for June: Retail 0.8% m/m (expected 0.5%)
- Norwegian oil drillers to strike after wage talks fail
- New Zealand data: ANZ's Truckometer for June -1.5% m/m (vs. previous +3.0%)
- China, Germany sign commercial agreements, commit to multilateral global trade
- Trade ideas thread - Tuesday 10 July 2018
USD/JPY slowly crawled higher for much of the session here, making 111 look perhaps a little more sustainable than it did the previous two times it attempted above the figure. While we had some data from Japan today (money stock) it was not data not news that moved it along. The overnight (Europe and US time) bid tone just continued on here today, buyers gently chasing it higher.
Elsewhere movements were similarly subdued, with little news nor data to mix things up.
EUR/USD is little changed after a very small range, USD/CHF, USD/CAD and GBP/USD ditto. The antipodeans have fared slightly better, NZD and AUD both showing a small bid tone. A reprieve in anti-trade tweeting from you-know-who helping AUD, NZD and seeing some flows out of yen.
China today - we got inflation indications but the focus for data from the country will be on the trade balance due later this week.
Still to come: