Forex and Bitcoin news for Asia trading Thursday 8 March 2018
- Security concerns continue to be the Achilles heel of cryptocurrencies
- Heads up for large FX option expiries on Friday and Monday
- Deutsche Bank says market pricing too aggressive on RBA hike - AUD lower most likely
- (USD terms) China trade balance (Feb): USD +33.74bn (expected -5.7bn)
- China trade balance for February: CNY 224.9bn (expected CNY -68.9bn)
- Responses to Japanese GDP data coming in - "revised up, but ..."
- More cryptocurrency news from Japan regulator - Coincheck reimbursement
- FX option expiries for Thursday 8 March 2018 - 10am NY cut
- Still data to come from Japan - February Economy Watchers survey
- Another NZ bank pushes back its RBNZ hike expectations
- US press - Steel & aluminium tariffs will temporarily exempt Canada & Mexico
- Japan's financial regulator has announced punishments for cryptocurrency exchanges
- PBOC sets USD/ CNY central rate at 6.3239 (vs. yesterday at 6.3294)
- Looks like Trump maybe won't be signing tariff plan on Thursday ... delays
- Australia January trade balance: AUD +1055m (expected +160m)
- Australian data due at the bottom of the hour - levels to watch for AUD/USD
- UK data - RICS house price balance for February 0% (expected 7%)
- Japan 2nd read on Q4 2017 GDP: 0.4% q/q (expected 0.2%)
- Japan January BoP Current Account Balance: ¥ 607.4bn (expected ¥ 437.4bn)
- ECB meeting Thursday - preview: "almost certainly not producing any changes"
- U.S., Japan and EU Trade Officials to Meet Amid Steel-Tariff Uproar
- South Korea press reports North offering to halt ICBM program
- ECB meeting Thursday - levels to be aware of in EUR/USD ahead of that
- (not breaking, just on timing) Trump expected to sign tariff plan Thurs 2030GMT
- Forexlive Americas FX news wrap: White House pivots on proposed tariffs.
- Australia January trade balance data due today, 2018 exports off for a good start?
- Trade ideas thread - Thursday 8 March 2018
- NZ Q4 manufacturing data out now; sales volumes higher
- Australia foreign min making the case for US tariff exemptions
- Moody's downgrades Turkey rating
- Add this to the economic calendar in Asia today - China trade data for Feb on its way
- Mixed finish for the major stock indices down and up session
- US Treasury Secretary Mnuchin speaking .... nothing as yet on economy nor policy
- Audio recap: Bank of Canada backs off
- Heads up for Japan GDP data due today – quickie preview
- New Zealand GDP proxy indicator (Feb.) -2.5% m/m (prior +4.1%)
- USDCAD stays below 100 hour MA and trades below trend line
- Here is what’s on the economic calendar in Asia today – Japan Q4 GDP
You may remember the song .... well it was a bit that way on the tariff question. Late US headlines were that yes, President Trump will be signing the new tariffs in on Thursday. We even had a precise time, 3.30pm Eastern (2030 GMT). Later though, new headlines hit that nope, the documents are still being drawn up and the lawyers are still in da house, so they won't be signed then. Who knows? Stay tuned to this capricious lot and see what happens.
USD/CAD was a mover, dropping away towards 1.2850 and MXN was on the move also.
For Turkey traders (the currency, Turkish lira, not the yummy poultry) news hit (early Asia) of a Moody's sovereign downgrade ... which didn't do the TRY any favours, natch.
Apart from this news flow was light and of little impact. We got Japan GDP (beat) Australia trade balance (beat) and China trade balance (beat) - see bullets above for more on these.
The yen has done little despite the data (it rarely does too much on Japanese data). USD/JPY has been confined to a 15 or so point range around 106.10.
The Australian dollar had run into a top around 0.7825 but managed a tiny wee poke above there on the release of the January trade data (and a much bigger than expected surplus), only to dribble back down toward 0.7820 and then edge back to circa 0.7835. NZD/USD is slightly up on the session, some early data (manufacturing for Q4) saw a little drop after, but this move was reversed.
Cable, CHF both quiet. EUR/USD is towards the lower end of a small range, just above 1.2400 as I update.
Gold is up a few dollars, and oil a few cents.
Still to come:
