Forex and Bitcoin news for Asia trading Tuesday 18 September 2018
- Morgan Stanley on the US dollar - not expecting universal strength
- Check this out on the comments from China's commerce minister
- China commerce minister says US / China cooperation the only correct choice
- JP Morgan with a heads up on what will impact on the USD ahead (weeks and months)
- CSRC Vice Chair Fang Xinghai says US additional tariffs poisoning negotiation
- Japan finance minister Aso comments on where to for the BOJ
- New Zealand north island earthquake M5.0
- Japan's trade minister Seko says Trump's additional China tariffs regrettable
- Freeland to return to Washington this week - another run at closing NAFTA deal
- Japan economy minister Motegi: No country wants tit for tat tariff retaliation
- RBA minutes: Recent modest fall in AUD helpful for domestic economy
- Australia Q2 house price index -0.7% q/q (expected -0.7%)
- Chinese securities mkt official says Trump pressure on China won't work
- PBOC sets USD/ CNY reference rate for today at 6.8554(vs. yesterday at 6.8509)
- Just a heads up - South Korea's President is in North Korea today
- Bitcoin Girl attempts to live on cryptocurrency
- ICYMI - this from yesterday - China says no to more trade talks
- Australian data - weekly consumer sentiment indicator rises
- Canada PM Trudeau - moving closer to Nafta decision, days or weeks away
- More from Trump - if China retaliates will put tariffs on another 267bn
- US to impose extra tariffs on China from September 24 , around US200bn
- China press says the PBOC may cut the RRR around October
- AUD forecaster says AUD/USD to 0.65 in 2019 (& RBA on hold until 2020)
- Now the NZ PM is corrected - has not seen a GDP preview
- NZ PM says she has received a preview of Q2 GDP and was 'pleased'
- Goldman Sachs EUR/USD chart and technical analysis
- Trade ideas thread for Tuesday 18 September 2018
US President Trump announced additional tariffs on $200B of Chinese goods. He added also that if china retaliated he'd impose tariffs on a further 267bn of imports.
'Risk' came under pressure with AUD one the bigger losers (not a huge drop).
As the session progressed and China opened we did not see much sign of any immediate retaliation from China. We even got reports of quite restrained comments from China's commerce minister. The response helped risk to climb back, AUD fully reversed its gains and popped its overnight high briefly. Now, on these commerce minister comments, after they were reported it as noted they were from Monday, prior to the Trump tariff announcement. It may have been helpful to have that made clear up front, but no. Welcome to FX. Mustn't grumble.
Prior to all this happening, while we were waiting on something on tariffs we had some fun and games from New Zealand. NZ PM Ardern said she'd seen a preview of the coming GDP figures and was 'pleased' with them. NZD/USD was taken higher on the comment.
And then a spokesman for the Prime Minister said she was mistaken, she had not seen the GDP result. Ditto on the Welcome to FX, mustn't grumble. NZD gave back its pop as the China tariff news hit and then recovered. Its had a roller coaster ride, admittedly in not too big a range.
CAD was a bit of a mover also, USD/CAD higher on the China news, then it retraced too. We did have some news that Freeland was to head back to Washington this week for more Nafta negotiation. Of course she is. This is not going to finish any time soon, Deadline is apparently October 1.
EUR,GBP moved to a smaller degree, each down on China tariffs, each back up again .
USD/JPY fell early but as the Tokyo morning progressed it recovered back towards 112. There was little idiosyncratic yen news, a few comments from government ministers. The BOJ make their policy statement tomorrow so we can expect a few more jitters ahead of that.
Still to come:
