Forex and Bitcoin news for Asia trading Monday 16 July 2018
- China's Li says China will reduce tariff rates
- Comments from EU's Donald (yes they have their one too) Tusk
China data:
- On the China GDP data, its time to start paying closer attention
- More from China's Stats Bureau people on the data earlier
- Heads up for data due from the US Monday 16 July 2018
- China June Retail Sales 9.0% y/y (expected 8.8%), Industrial Production 6.0% y/y (exp 6.5%)
- China Q2 GDP: 6.7% y/y (expected 6.7%)
- PBOC sets USD/ CNY reference rate for today at 6.6758 (vs. Friday at 6.6727)
- Trump's trade war threats and why he won't back down
- More UK data - consumer spending rises again in June (Visa data)
- New Zealand services PMI for June: 52.8 (prior 57.3)
- Does anyone know Down Under that France just won the World Cup of football?
- US' Brady calls for Trump Xi meeting to address trade tensions
- Weekend HK press - Chinese media have been told to not mention the trade war
- Trade ideas thread - Monday 16 July 2018
- Weekend: Buba / ECB Weidmann warns of a slowdown in economic growth
- Weekend: Iraq urges US admin not to engage in Strategic Reserve oil price manipulation
- Pres. Trump's advise to PM May... Sue the EU
- Weekend homework assignment: Why not get some trading education this weekend?
After the previous two Monday morning in early Asia saw low liquidity forex volatility today was a little more subdued. Weekend news flow was light and only minimally impactful on the currency rates.
US President Trump did give an interview at which he characterised the EU as a foe:
"I think the European Union is a foe, what they do to us in trade." EUR has done little here in Asia today, confined to a range of pretty much 1.1675/85 or thereabouts. Trump and Putin will meet later during Monday (from 1015 GMT).
USD/JPY opened very early here a little weaker than its us close but soon recovered. It has since popped its head briefly above 112.50 and is just under there as i post. A holiday In Japan today (Marine Day holiday) has kept Japanese markets closed.
Cable has drifted slightly higher through Aia, for a total gain from its lows of around 25+ points. AUD and NZD had a a try a little higher early but have since come back to be little changed for the session.
The data event for the day was out of China, Q2 GDP (in line but 0.1% below Q1, check out the data post above and numerous response posts) and June activity data (retail sales solid, industrial production not so much, again, bullets above
Still to come:
- Monday is Trump Putin summit day - starts at 1015GMT
- Monday 16 July 2018 forex option expiries
- AUD traders, here is what is coming up from Australia this week (data, RBA)
- NZD traders, here is what is coming up from New Zealand this week (inflation data preview)
Pic of the day (week?)