Forex and Bitcoin news for Asia trading Monday 17 September 2018
Over the weekend the Wall Street Journal reported US President Trump is expected to announce additional tariffs on $200B of Chinese goods as early as Monday. The journal cited an unnamed senior administration official. In turn China trotted out their own unnamed official, who said China would not proceed with planned trade talks (Set for 20 September) with a gun pointed at its head – i.e. the new tariffs).
This escalation was a weight on regional stock here in Asian on Monday, relieved somewhat by a one-year funds injection from the People’s Bank of China. Japanese markets were closed for a holiday.
For FX it was a day of narrow ranges pretty much across the board. There was a tiny amount of movement only. The economic calendar was spare, a few minor releases only. NZD/USD and Cable may have been the largest ranges on the session, clocking in at around 30+ and 25+ points high to low respectively. As i post both, indeed all, are little net changed on the session.
Still to come: