Forex and Bitcoin news for Asia trading Wednesday 28 November 2018
- New Zealand government blocks Huawei equipment … national security cited
- Mapping the Fed’s hawks and doves in 2019
- Morgan Stanley on the 'anti-USD'! (spoiler its the yuan, & here's where its going)
- Japan earthquake M5.5 (Hokkaido)
- Bank of China flags scope for China to raise deficit ratio
- Some leaks on what to expect from the UK Treasury's Brexit forecasts
- Australian construction data big miss - sharp fall will dent GDP growth
- PBOC sets USD/ CNY reference rate for today at 6.9500 (vs. yesterday at 6.9463)
- North Korea and the US have failed to have a scheduled meeting
- Australia - Construction work completed in Q3: -2.8% q/q (expected +0.9%)
- Brexit and the UK economy - brace yourselves for "Warnings Wednesday"
- UK data - BRC shop prices rise for only the 3rd time in 5 years
- Goldman Sachs says iron ore price drop is nearly done
- JP Morgan's 3 reasons the USD will slide from end 2019 (plenty of ifs though)
- More USD/JPY strength to come says analyst, citing USD repatriation flows
- Morgan Stanley on the big Fed events to come Wednesday and Thursday
- US President Trump says may cancel his meeting with Putin over Ukraine
- US President Trump says again he is not happy with Fed Chair Powell
- Australian data due today, an input to Q3 GDP due soon
- China says it will not dump US Treasuries if trade dispute worsens
- Brexit - UK govt to allow parliament to amend Brexit deal motion
- Trade ideas thread - Wednesday 28 November 2018
- Private oil data shows larger than expected build in crude oil inventories
- MXN traders - some comments from the central bank
- Canada official says still details to be sorted on US/Mexico/Canada trade deal
If you scan across your charts for the session here you'll see a lacklustre sort of day. News flow was limited, as was data flow.
USD/JPY edged itself a little higher (circa 113.85) during the Tokyo morning only to dip a little (down 10 points or so) on news that the US and North Korea had not conducted a scheduled meeting. Yeah, a 10-point move. As I post we are back around 113.85. I hear expectations 114 is on the cards, dunno if we can handle such volatility. Sheesh.
EUR, GBP, CHF, CAD, AUD, NZD ... all not too much movement at all.
From Australia today we got some data, a disappointing turn for the construction sector in Q3. The data is an input to Q3 GDP, and its not looking too bright. Today's data indicates GDP will still be positive, but I suspect expectations for it will be revised a little lower (pending the other partials yet to come of course, maybe they'll be better).
Oh yes, the headline to the post …. US President Trump stepped up his offence on the Fed and its rate hiking path. In the past he has said he wasn't happy, he picked it up a little today with 'not even a little bit happy' with Chair Powell. There was little impact, but if you do see the USD dip fingers will probably be pointed at this remark.
Not. Happy. Jay.
Still to come:
