Forex and Bitcoin news for Asia trading Tuesday 27 November 2018
- Another view on where to for GBP after the Brexit vote
- Brexit and the vote in parliament - GBP scenarios
- Barclays on the Trump - Xi meeting, and beyond
- China industrial profits data in October fell from September
- PBOC sets USD/ CNY mid-point today at 6.9463 (vs. yesterday at 6.9453)
- Australia politics - government member resigns to sit on cross bench
- Australian PM says he is delivering an early budget (pre-election)
- Did the WSJ trick President Trump into his China tariff statement?
- Purchases of bank WMP’s by listed companies in China hits a 5-year high
- New Zealand - Clients of online broking firm say their funds have been frozen
- Moody's says Japan auto sector most exposed to trade war frictions
- Goldman Sachs are watching just above 1.13 as important support for EUR/USD
- Tokyo earthquake (not a big one by their standards)
- SG on the Fed - three more hikes then a pause
- UK press reports Brexiteers will support May's deal if she sets her retirement date
- The CME has raised the margin requirement for oil futures
- Australian weekly consumer confidence data: 118.6 (vs. prior of 117.8)
- MXN traders - heads up for the new finance minister to speak
- Trade ideas thread - Tuesday 27 November 2018
- NZ October trade balance: Deficit of 1295m NZD (vs. expected deficit of 850m)
- US President Trump says Brexit deal may damage UK - US trade
- US President Trump says its highly unlikely he will delay trade tariffs on China
- UK PM May spokeswoman says laying groundwork for trade deal with US
After the US (stock market) close we got headlines from US President Trump, on China and Brexit. Trump's comments saying he is unlikely to delay the imposition of tariffs on Chinese goods imported into the US saw an immediate response from the AUD (and NZD to a slightly lesser extent), down. AUD/USD stabilised somewhat as the session here progressed, but the kiwi continued to fall. Data released from NZ showed a large trade deficit miss (a bigger than expected deficit) which weighed on the currency. Export performance was a small miss but imports surged (much of it attributed to the high cost of crude imports).
- imports recorded their highest ever monthly result
- the trade deficit was the third biggest month ever
NZD/USD dipped under 0.6760 before setting off sideways and a little bounce for the balance of the day.
News and data flow was light after the early activity.
USD/JPY lost ground after topping late NY above 113.60, a prolonged but gentle slide under 113.45 and then a revisit to mid range 113.55. There was no news of significance.
From China today we got industrial profits. Growth in profits has fallen and that continued today (i.e. still positive y/y but at a slower rate).
Currency movement was somewhat muted, USD/CAD, EUR/USD, USD/CHF, cable are all little net changed on the session.
Still to come:
