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Forex and Bitcoin news for Asia trading Tuesday 4 September 2018
Asia entered today after a long weekend for North American traders. As the Tokyo morning got underway a little yen cross selling became evident, most notably against the usual AUD and NZD suspects but also seeing CAD sellers. EUR and GBP saw a few tics lopped off but were not the notable losers. USD/JPY, meanwhile, dipped under 110.95.
USD strength then fed into forex, seeing further losses for the AUD most especially but also a softer tone again for the others. NZD/USD was an exception, although it is a touch lower for the session its not by much. Cable too is little changed. USD/CHF is higher. USD/JPY reversed its earlier loss completely and is near its session high as I post circa 111.12.
The Bank of Japan boosted their buys of JGBs today, but there is a catch – the Bank will be conducting buying operations on fewer days this month. Net for September the Bank is expected to buy fewer JGBs.
Data today from Australia was not too far from expectations, with a focus on net export numbers for Q2 as a feed into tomorrow’s Q2 GDP data. The partials so far have been showing a circa 0.7% q/q result, but of course there are uncertainties still (consumption a bit of a wildcard in the mix). The data point is due Wednesday at 0130GMT.
Ahead still is the RBA decision for September, unanimously expected to be on hold. Previews below.
Still to come: