Forex and Bitcoin news for Asia trading Wednesday 21 March 2018
- NZ data - February credit card spending +0.7% m/m (prior -0.6%)
- CAD adding to its gain after the NAFTA news (US drops auto-content proposal)
- Fitch Ratings affirms China at 'A+' with outlook stable
- PBOC sets USD/ CNY mid-point today at 6.3396 (vs. yesterday at 6.3246)
- Canada press: US drops contentious auto-content proposal in NAFTA talks
- AUD/CAD lower in 2018 say Westpac
- Hong Kong dollar hits a 33 year low
- US National Security Agency (NSA) has been tracking bitcoin users
- Australia - Westpac leading index for February: +0.29% m/m (prior -0.24%)
- Heading into the FOMC - technical analysis on the USD
- Japan - yen, JGB flows
- NZ (February) migration data - to a 3 year low
- Trade ideas thread - Wednesday 21 March 2018
- OIL - private inventory data shows surprise draw in US crude inventory
- S&P revises Vale Canada outlook to stable from positive
- NZD traders heads up - Fonterra have raised their milk price forecast
It was a Tokyo holiday and a pre-FOMC session, so moves were a little subdued as traders waited.
But .... news broke of a change in the US position on NAFTA (unidentified sources quoted, so bear that in mind) and the Canadian dollar (and Mexican peso) rose. Check out the bullets above for more, and check out the MXN move:
Elsewhere it was, as expected, quite a muted session with very small ranges and very little net change pretty much across the board. Data flow was almost non-existent, and what we did get was lower-tier and non FX market moving.
Still to come:
- FOMC preview: Powell to make his debut with a rate hike
- Wednesday is FOMC day - Fed rate hike expected - preview
- Goldman Sachs Federal Reserve FOMC preview
- Too early for a preview of next week's FOMC meeting? Nah ..... Dot plot expectations
- Option expiries of note for Wednesday 21 March 2018, 1400GMT cut
- Heads up for large FX option expiries later this week
And, ladies and gentlemen, while the focus is on the Fed, don't forget that a couple of hours after is the Reserve Bank of New Zealand monetary policy announcement:
