Forex and Bitcoin news for Asia trading Wednesday 12 September 2018
- Asian stock markets index hits 14 month lows
- Latest on the US east coast hurricane Florence
- ICYMI - China auto sales dropping
- S&P on iron ore - oversupply for the nest 2 to 3 years
- Russian energy minister Novak on oil - Russia has potential to add 300K b/d
- PBOC sets USD/ CNY central rate at 6.8546 (vs. yesterday at 6.8488)
- Russian energy minister Novak - Russia wants 20% of global LNG market
- Australian monthly consumer sentiment - 3.0% m/m
- US - Japan trade talks likely scheduled for September 21
- Russian energy minister Novak to discuss cooperation with US
- AUD/USD technical analysis chart: " possibility of further down move"
- 'Secret plans' to dump Chequers Brexit proposal if EU leaders reject it
- More (much, much more) from Gundlach:
- UK media reports Brexiteers are said to plot to oust PM May
- More from Gundlach: next move in USD will be down, USD to end 2018 lower
- Trump to order sanctions on any foreign interests meddling in US elections
- Trade ideas thread - Wednesday 12 September 2018
- Private oil data shows than bigger than expected draw in crude oil inventories
- Gundlach says inflation rate accelerating thanks to tax cuts, tariff battle
We had some late US/very early Asia forex movement today. USD/CAD dropped away on promising murmurings on Nafta; from cicra 1.3125 it fell away over about half an hour to under 1.3050 before stabilizing and edging back a few points (to above 1.3075). There was some movement of other currencies alongside, EUR, AUD, NZD, GBP, CHF all better bid (to varying extents) against the USD.
This was not to last, though, as better liquidity entered from Asian forex centres currencies drifted off again, retracing 100% or a touch more of their early moves. News flow was not of impact.
USD/JPY did very little into the Tokyo morning but did lose a few points as more centres entered. A small range though, just above 111.60 to just under 111.50.
The PBOC set the onshore yuan weaker again for the mid-point. Oil rallied after the inventory report.
Still to come:
