Forex and Bitcoin news for Asia trading Tuesday 15 May 2018
Another pretty much sideways day for Asia FX with very little in the way of fresh drivers.
We did get April activity data from China (retail sales, industrial output, and investment numbers), coming in at a mixed bag. Check out the bullet above for the details but the ‘in a nutshell’ version is that industrial production beat estimates, an encouraging indication for economic growth, but retail sales missed which is a.little disappointing for indications of domestic demand growth (while sales did miss estimates, they were not weak though).
We also got RBA minutes and a speech (actually 2, but only one pertinent for the economy/policy/AUD) from Deputy Governor Debelle.
But, yeah, little FX movement at all – small ranges for the major traded currencies indeed. EUR/USD has managed to struggle off the canvas after a heavy NY session – it looks more like a bounce than an new impetus higher though. USD/JPY steadied around its overnight highs circa 109.70 and thereabouts.
NZD/USD showed little signs of bouncing, and AUD/USD … well almost ditto.
Still to come: