Forex and Bitcoin news for Asia trading Friday 16 November 2018
- China's ambassador to the US says country ready to work with US on co-operation
- (No) More on North Korean test of new high tech weapon
- Goldman Sachs top FX trades for 2019! (but … )
- PBOC sets USD/ CNY reference rate for today at 6.9377 (vs. yesterday at 6.9392)
- Japan finance minister Aso says the fall in Q3 GDP effect of natural disasters
- Singapore exports - latest data shows continued growth
- HSBC looking for an RBA rate hike from the middle of 2019
- Barclays yuan forecast is for USD/CNY to 7.15, but it'll take 6 months
- Barclays on oil - the price drop has overshot … but
- More on: UK Cons Party deal with DUP is over unless PM May is replaced
- Check this out - GBP “remains relatively untradeable"
- Trade ideas thread - Friday 16 November 2018
- New Zealand - Business NZ Manufacturing PMI for October: 53.5 (prior 51.7)
- US Trade Rep Lighthizer denies he said next tranche of tariffs on China on hold
- Fed's Kashkari making Kashkari comments - does not see need to raise rates
- US official says China's offers on trade should be viewed with scepticism
- ICYMI: "US and China step up effort to strike G20 truce on trade"
- UK Financial Times: "Paths to a second Brexit referendum or no-deal"
- Here are the Powell comments from the Fed 'review 'announcement
- More from Fed's Bostic - sees boost from fiscal stimulus to fade by 2020
- Fed will review how it conducts policy next year
- For the MXN traders - Mexico's central bank raises overnight benchmark rate
The US afternoon had some volatility on the back of mixed reports on US-China trade negotiations. US Trade Rep Lighthizer was reported as saying the next round of US tariffs on Chinese goods had been put on hold, giving currencies a little boost (EUR/USD popped to circa 1.1360, AUD/USD toward 0.7300). This was soon denied though and currencies retraced.
After another very hectic European morning for Brexit headlines these diminished during the US session and dried up completely in Asia here today. After its big drop in Europe GBP moved in a choppy sideways range and became subdued in Asia, just under 1.28 as I post. This will be the eye of the hurricane, as the UK wakes up it'll get crazy again.
News and data flow in Asia today was light indeed.
USD/JPY has lost a few points, topping out circa 113.60 here and slipping a little to around 113.40. AUD/USD, after it early pop is off to under 0.7275, taking AUD/JPY lower on the session. NZD/USD has followed a similar pattern to the AUD.
Still to come:
