Forex news for Asia trading Friday 22 December 2017
- As Bitcoin plunges maybe we need to be asking "Where to for gold in 2018?"
- Bitcoin is extending its losses, its down more than 10% in Asia trade
- North Korea's Kim says capable of posing a "substantial" nuclear threat to the US
- Bitcoin taking a bath, dropping price in Asia morning trade
- Japan's Cabinet approves fiscal year 2018/19 budget (PM Abe spending big)
- PBOC sets USD/CNY central rate at 6.5821 (vs. yesterday at 6.5795)
- If you like AUD/USD around 0.7700, I've got some good news for you! (Huge option expiry)
- EUR lower still - Catalan vote weighing further
- All done! US Senate approves bill to fund government through Jan - avert shutdown
- EUR losing some ground - concerns on minority government in Germany
- Barclays says the BOJ has little room to alter monetary policy in 'either direction'
- China’s bitcoin crackdown raises cryptocurrency demand
- Coinbase has resolved its issues that disabled trading
- Loonie shines bright on Thursday
- Coinbase is down - bitcoin buys and sells temporarily disabled
- More on Goldman Sachs new bitcoin trading desk (they will just LOVE the spreads!)
- China press - China not expected to hike rates next year
- Goldman Sachs says US tax changes will "boost growth slightly more in 2018"
- Forexlive Americas FX news wrap. Oh Canada! Better retail sales and CPI propel
- Voting continues in the US to fund government spending
- Trade ideas thread - Friday December 22 2017
- Economic calendar due from Asia today (you can pretty much ignore this post)
- Spain - Catalan secessionists on track to win majority in today's regional election
- US stocks end with gains but off the highs at the close
- Russian oil minister says he sees market in balance sometime in 2018
Yeah, Bitcoin was taken to the woodshed today, dropping to around 13,000 USD, with other cryptos all down also. Except for 'Ripple' (XRB), that went up.
BTC has had a sharp bounce to back above 14,000 USD as I update. Whats a few thousand bucks price moves amongst friends though, right?
I posted on BTC for most of the day, see above. But now to currencies.
EUR/USD was a mover. It was hit two factors, most importantly a win for Catalan separatists in Spanish regional elections and secondly by comments on minority government from German Vice Chancellor Sigmar Gabriel. Once the New York trading low was taken out (circa 1.1850 it accelerated to the downside, hitting to around 1.1818 before a bounce and stabilising somewhat around 1.1850 (just below) as I update.
Elsewhere in FX ranges have been more limited, USD/CHF is up a few tics, cable is little changed, AUD/USD has ticked above 0.7700 (note a huge option expiry at that rate today, see bullets above). USD/CAD and NZD/USD are both little net changed.
Gold is net down a dollar or so.
So, apart from BTC and EUR/USD it was a quiet range session.
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And, that's it from me until Wednesday next week - have a really great Christmas everyone!