Forex and Bitcoin news for Asia trading Wednesday 26 September 2018
- ADB lowers its forecast for 2019 China growth to 6.3% (prior was 6.4%)
- MSCI considering significantly increase of China A shares in its global index
- PBOC sets USD/ CNY reference rate for today at 6.8571 (vs. yesterday at 6.8440)
- New Zealand business confidence (September): -38.3 (prior was -50.3)
- AUD/USD technical analysis chart - support and resistance levels
- New Zealand trade balance for August: - 1484m (expected deficit 925m)
- South Korea says North Korea wants another summit with Trump ASAP
- Deutsche Bank on the AUD - positives are flying under the radar
- AUDUSD consolidates between moving averages waiting for the next push.
- More from the US on EU plan for Iran trade - Bolton not a happy chap
- Trade ideas thread - Wednesday 26 September 2018
- Oil - private inventory data shows a surprise build in inventory
- Some Italy headlines crossing: 5 Star might not back the budget
The New Zealand dollar was the mover in Asia today, dragging the AUD along with it.
The NZD fell initially, just a few points, on the trade balance release, the deficit for August was the largest ever. Analysts say exports are expected to pick up again.
NZD/USD recovered and then got marked higher on the release of ANZ's business outlook survey for September, which showed business confidence at a poor -38, but:
- it bounced from under -50 last month
- it bounced off a 10 year low
- -38 is better than -50 ...
NZD/USD spanned around a 50 point range on the session and is sitting close to the high end as I post.
AUD/USD was taken higher with the NZD, up above 0.7280 and then stabilsing somewhat.
CAD is little changed on the day, but had weakened in early Tokyo time (not a lot in it highs USD/CAD highs under 1.2965).
EUR, GBP are both very little changed on the session. USD/CHF and USD/JPY are just a few points net lower.
Apart from the kiwi data there was nothing of significance.
Today was a pre-FOMC session in Asia, these are often a day of waiting. The FOMC announcement etc. is in the US afternoon Wednesday and will be followed by the RBNZ announcement. Preview links below.
Still to come:
