A light start to the trading calendar this week Anyway, as for action today there was some movement in the loonie as well as the PBOC has once again proceeding to weaken the yuan further in today’s fixing and that has been the more notable event so far in trading following last Friday’s payrolls reaction.
There is not a lot on data agenda for 6 August likely to cause too much ruction in forex rates upon release 0100GMT Australian monthly inflation indicator – This comes form the Melbourne Institute, today is for July 0100GMT New Zealand – ANZ Commodity Price index for July
Forex and Bitcoin news for Asia trading Monday 6 August 2018 Canada and the CAD: China, trade: The Canadian dollar was the mover here in early Monday trade (pre-Tokyo) on breaking news (brought to by ForexLive giving you time to spare to get set in the CAD for easy pips) that Saudi Arabia had given…
Weekend media in China on the escalating trade war with the US, referring to Friday’s announcement of retaliatory tariffs on $60 billion of U.S. goods China is not holding back on the rhetoric, some undiplomatic speak; this from a Xinhua commentary:
Queensland Investment Corporation (QIC) is a Government owned investment company Comments from Susan Buckley, managing director of global liquid strategies at the firm
USDJPY falls below 200 hour MA The USDJPY has fallen below its 200 hour MA line at 111.30. Earlier the price fell below the 100 hour MA and trend line turning the bias more negative.
Markit services PMI for July Composite index: ForexLive
Kudlow on Fox Business Months ago I expected the US was working on a strategy of putting together a ‘coalition of the willing’ on trade to take on China but it hasn’t come together quickly. Maybe a pivot will come after all, but the US hasn’t built up a lot of goodwill with allies.
Little changed after US employment shows steady job growth The major US stock indices are now open, and they have modest gains after steady job growth: In the US debt market yields are lower:
July 2018 US ISM non-manufacturing index This won’t do anything to halt today’s slide in USD/JPY, which is now down to 111.15. Comments in the report: – “Business is strong in both our commercial-construction and residential-service areas.” (Construction)