ForexLive Asia Forex information wrap: Trump tweets towards crypto – “not a enthusiast” – ForexLive

Foreign exchange information for Asia trading Friday 12 July 2019

Trump’s anti-cryptocurrency tweets that built some waves:

Trump’s tweets occur as Fed Chair Powell replied to Congress that he needs to see tighter management on digital goods, with JPM and Facebook to start cryptocurrencies. Extra in the posts higher than.

BTC popped towards the USD on the Presidential tweets but has subsequently occur again to be not too considerably from where it was prior. 

In fx we have seen a net shift weaker for the USD towards most currencies. The moves have been restained, USD/JPY at first ticked just a minimal higher than its US-time superior to edge more than 108.sixty prior to dropping towards 108.thirty. Its circa 108.40 as I update.

AUD and CAD have equally set on a several points gain towards the USD for the session, equally surpassing their US time highs and retaining higher than. 

As I explained, information and info circulation was mild. What we did get is of interest to SGD traders – an horrible collapse for Q2 GDP in Singapore (see bullets higher than). This is probably to prompt Financial Authority of Singapore easing at their upcoming meeting (October) but its tricky to rule out the lender likely prior to then (the chance of waiting until eventually October is even more weakness for the SG economic climate).

Remain tuned people – we have China’s trade stability for June because of soon, at 0700GMT. 

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