Forex and Bitcoin news from the European morning trading session 2 Mar 2018
News:
- Trump tweets on trade: When a country is losing many billions of dollars trade wars are good, and easy to win.
- China says it will safeguard its interests if harmed by US trade measures
- China foreign ministry urges US to follow trade rules
- EU says if US steel and aluminium tariffs target Europe it would be "deeply unfair"
- Moody's says that Canada and Bahrain are the top losers from US tariffs
- Australia's trade minister labels US' steel tariffs as 'disappointing'
- BOE's Carney says it's possible cryptocurrencies will transform financial system in the future
- BOE's Carney says he favours cryptocurrency regulation to combat illicit activity, fraud
- Germany's Gabriel says he's very concerned about Trump's steel tariff announcement
- BOJ's Kuroda says doesn't think will consider exit from easing this year
- Steel & aluminium US trade tariffs 'stupid'. China likely to retaliate.
- BOJ's Kuroda says that central bank doesn't have intention to move FX rates
- BOJ's Kuroda says wage growth is needed to sustain inflation
- BOJ's Kuroda says that the central bank ended zero-rate policy too early in 1990's
- More from BOJ's Kuroda: Monetary easing or tightening won't last forever
- More from BOJ's Kuroda: 2.4% unemployment rate was 'a little suprising'
- BOJ's Kuroda says that hasn't achieved 2% inflation target
- BOJ's Kuroda says that inflation is likely to reach 2% around fiscal year 2019
- RBA expected to hold cash rate steady in next week's meeting - Reuters poll
- BOJ's Kuroda speech today was long and messy, what have we learned?
- MUFG says that Kuroda's comments on exit is to add more pressure on USD/JPY
- Mizuho says that Kuroda did not intend to signal exit from policy easing
- Fitch says that proposed US tariffs to have limited impact on China metal producers
- ECB's Nowotny says that he welcomes measures to regulate cryptocurrencies
- German government rejects US tariffs on steel and aluminium - spokesman
- USD sellers back out in force after Trump trade tweet
- Researcher says that stolen NEM coins from Coincheck traced to Canada
- FX option expiries for the 15.00 GMT cut - 2 March 2018
- Westpac says that monetary policies still dominate FX theme over tariffs
- Lee Ju-yeol reappointed as Bank of Korea governor
- GBPUSD orders 2 March - Focus on May's latest Brexit speech
- Here's why the currency market may be wrong-footed come Monday
- S&P 500 futures fall to lowest levels on the day
- CAD traders heads up - Friday brings the Q4 & December reading for Canada GDP - preview
- Germany 5-year bund yields fall back to negative territory
- Nikkei 225 closes lower by 2.50% at 21,181.64
- ForexLive Asia FX news: USD/JPY drops under 106 (a few tics)
Data:
- Eurozone January PPI m/m +0.4% vs +0.4% expected
- Germany January retail sales m/m -0.7% vs +0.7% expected
- Germany January import price index m/m +0.5% vs +0.4% expected
- Italy Q4 2017 final GDP q/q +0.3% vs +0.3% prelim
- UK Markit/CIPS Feb construction PMI 51.4 vs 50.5 exp
Wow, what a session .
BOJ Kuroda kicked it all off in Asia with some less than dovish yen comments and we saw further yen demand with USDJPY down to 105.60 from 106.20
That set the tone for a softer dollar but then Trump woke up and tweeted defiantly on trade to cue further USD losses in rapid fashion.
EURUSD had remained underpinned at 1.2250 with large option interest still in play but has now posted 1.2323, USDJPY 105.27, GBPUSD 1.3810 from 1.3780 having held 1.3760 but capped by EURGBP demand up to 0.8934 from 0.8905
USDJPY
USDCAD has been up to 1.2869 from 1.2830, AUDUSD up to 0.7770 from 0.7745, with USDCHF falling to 0.9338 from 0.9400.
Bitcoin failed into $11200 but has held $10800
Oil has fallen again as have equities but gold has found a few buyers after the week's solid decline.
UK PM May makes her latest keynote Brexit speech in London at 13.30 GMT, options rolling off at 15.00 GMT and data wise we have:
