Forex and Bitcoin news for Asia trading Wednesday 24 January 2018
- Ahead of the ECB meeting Thursday, Eurozone PMIs are out today - preview
- USD/JPY takes a peek below 110.00, what's next?
- More NZ inflation data previews (data due 24 January 2018 2145 GMT)
- Riot Blockchain won 500 Bitcoins in US Marshals' auction
- Heads up for New Zealand Q4 inflation data due first thing Thursday - previews
- Three reasons Bitcoin is a bad “investment”
- The UK's December jobs & November wages report is today - previews
- USD/JPY has a poke under 110 ... more to come?
- NZ data passed without much of a ripple ... Dec credit card spending +0.6% m/m
- Japan trade union head says boosting wages will raise consumer spending
- Westpac revises its end 2018 AUD/USD forecast - looking for a fall
- PBOC sets USD/ CNY reference rate for today at 6.3916 (vs. yesterday at 6.4009)
- Will the USD bounce after Trump speaks in Davos?
- EUR/USD: "Some profit taking possible into ECB but dips likely to be shallow"
- Japan preliminary manufacturing PMI for January: 54.4 (prior 54.0)
- Add this to the economic calendar: Japan manufacturing PMI due bottom of the hour
- Japan December Trade balance: Y 359.0bn (vs. expected Y 535.0bn)
- Australia - Westpac Leading Index (December): +0.27% m/m (prior +0.1%)
- European Central Bank meet Thursday - preview: "Tricky"
- Japan December trade balance data due today - preview 2
- Majority of US Senate votes to confirm Powell as Fed chair
- "Bitcoin is almost certainly a bubble" ... but "Will blockchain live up to its hype?"
- Soft dollar policy strikes again
- Forexlive America FX wrap: USD continues to lose ground and go lower.
- Japan December trade balance data due today - preview
- Trade ideas thread - Wednesday 24 January 2018
- OIL - private inventory data shows surprise build in US crude inventory
- Stay tuned for the US Senate vote on Powell for Fed Chair (2200 GMT)
- AUD and NZD - compare and contrast (and then short AUD/NZD?)
- Economic calendar due from Asia today
The weakening USD continued in Asia today, helping USD/JPY to drop under 110, but not by much as I update. Earlier we had Japan showing still-solid export performance (see trade balance bullet above) and a near 4 year high for the (admittedly preliminary) reading for December manufacturing PMI; helping the yen side along.
Otherwise news and data flow was light.
EUR, CHF and GBP all ticked a little higher against the USD. Tnages were not large and each has retraced a little.
CAD, AUD and NZD ... pretty much ditto.
The price of oil dropped late in the US afternoon - private inventory data showed a build in stocks against the expected decline ... so a bit of a surprise there. The price has not since recovered (though it hasn't extended the drop either). Perhaps its taking its cues on doing not very much from Asia FX.
Bitcoin was subdued also
