Forex and Bitcoin news for Asia trading Friday 26 January 2018
- Canada inflation due today - round up of previews
- EUR/CHF largely ignoring SNB head Jordan's comments
- Too lazy to assemble your own cryptocurrency mining kit? Well, you don't have to...
- AUD and NZD to outperform CAD
- Canada inflation due today - previews
- FOMC meet next week - with new voters. Who's in, who's out. The hawks, the doves
- ex-Mr. Yen says expects USD/JPY toward 100 by the end of 2018
- Westpac on the degree of risk to their Australian inflation forecast
- More on the EUR and CHF from UBS
- Federal Reserve: The FOMC meet next week, preview
- Japan govmt spokesman says CPI shows improvement toward beating deflation
- Next week's China January PMIs - 3 of 5 indications are looking good
- Japan's consumer inflation steady in December, poses challenge for BOJ
- BOJ Dec. meeting minutes - recap
- China December industrial profits +10.8% y/y (prior +14.9%)
- Bloomberg report that EU Is Open to Brexit Transition Lasting Beyond 2020 (sources)
- PBOC sets USD/ CNY reference rate for today at 6.3436 (vs. yesterday at 6.3724)
- Japan fin min Aso says he wont won't comment on other countries' remarks on FX
- US Q4 GDP data (and more) is due for release Friday - what to expect
- PBOC dep gov says Bank crypto would not have a big impact
- Bank of Japan Governor Kuroda says not time to talk about exit or change in policy
- BOJ Dec. meeting minutes out now - full text
- Japan services PPI for Dec. 0.8% y/y (expected 0.8%)
- Complete Mario Draghi press conference Q&A transcript now available (link)
- Japan National CPI (Dec.) 1.0% y/y (expected 1.1%)
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- NZD the biggest loser in early Asia (so far)
- Some UK Brexit politics ... malcontents plotting against PM May
- 'Under the radar' flows imply USD expensive, scope for higher EUR/USD
- Forexlive Americas FX wrap: Greenback whips around on Draghi/Trump
- George Soros spoke in Davos today - says Trump on course for nuclear war
- Trade ideas thread - Friday 26 January 2018
- Moody's change their outlook on Russia's rating from stable to positive
- Heads up for Japanese inflation data due today - previews
- Economic calendar due from Asia today - Japan inflation day
- AUD traders heads-up, market holiday in Australia today
Japanese inflation data was the focus today here, but it came and went with little impact. It is moving in the BOJ's desired direction (albeit it does seem to be on the back of perhaps transient factors) but the underlying measures are still weak and argue for no imminent end to the bank's huge easing efforts. The only exit Kuroda is ever going to talk about for a few years has a Br in front of it.
Currency movement was confined to not very large ranges today. After an overnight in which the US President bumped up the value of the USD that move initially tried for another leg in the early dealings, with NZD/USD extending its overnight losses, as did the AUD/USD though not to the same extent. EUR/USD bottomed ahead of the overnight lows. USD/CHF topped ahead of its overnight highs and USD/CAD was lineball. Cable bottomed ahead of its overnight low.
So, some slight underperformance from the antipodean early.
That initial USD move was soon reversed, AUD and NZD had decent bounce backs (up 50+ points or each). And the others retracing also.
Apart from the Japanese data news and data flow was nearly absent. We did get BOJ December meeting minutes - no surprises from these.And the People's Bank of China ignored the overnight USD strength in its onshore yuan setting today, shunting the CNY to another stronger reference rate, highest for CNY against USD since November of 2015. It also, in effect, sucked more liquidity out of the banking system by skipping open market operations today.
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;-)
Have a great weekend all!
But not before: