ForexLive European FX news wrap: Steady as we go again

Forex and cryptocurrency news from the European morning trading 12 Mar 2018

News:

  • Canada’s Morneau hopes it’s business as usual with UK after Brexit
  • UK firms favour certainty over a full Brexit deal — report
  • A ‘no-deal’ Brexit could cost companies in the UK and EU up to £58 billion
  • Bitcoin should be regulated similar to gold, says Austria’s biggest Bitcoin broker
  • Bitcoin finding a few buyers again
  • Binance offers $250,000 reward for arrest of hackers
  • ECB’s Coeure says inflation is not yet «where we want it to be»
  • Japan PM Abe feels responsible over Moritomo issue, apologises in speech
  • Japan’s finance minister Aso confirms documents were altered
  • Japan’s MOF says investigation found 14 items had been altered in documents — report
  • Japan PM Abe’s cabinet approval rating falls 2 points to 44% — NHK survey
  • Mizuho says JPY move on Japanese politics will not last long
  • North Korea is said to want a peace treaty with the US — report
  • Time for a public service announcement — NA clocks now one hour forward
  • The struggle with inflation continues for UK consumers
  • More strikes in Germany over wage negotiations
  • Credit Suisse says focus on trade war highlights vulnerability of Asian currencies
  • ING says oil is at risk of sliding back below $60 in 2H 2018
  • Friday’s US jobs report hits the right spot for equity investors
  • BIS says that China, Canada, and Hong Kong are most at risk of a banking crisis
  • Aussie and kiwi leads the major bloc on the day
  • NZD/USD is in a good position to test this year’s highs again
  • AUD/USD looks poised to make another run at 0.7900 again
  • SNB total sight deposits w.e. 9 March CHF 575.9 bn vs CHF 576.0 bn prior
  • Trading ideas for the European session 12 March
  • Nikkei 225 closes higher by 1.65% at 21,824.03
  • ForexLive Asia FX news: Japan politics, higher yen  

Data:

  • Japan February preliminary machine tool orders y/y +39.5% vs +48.8% prior

Early wrap today for European readers as NA desks are now on Daylight Savings Time.
A very steady start to the new week with some yen demand notable again as Japanese year-end approaches.
USDJPY failed at 107.00 again in Asia and been down to 106.35 before trawling around 106.50 but the yen demand has sent GBPJPY down to 147.50  EURJPY 131.05 AUDJPY 83.74 capping core pairs and nudging them lower to 1.3845, 1.2295 and 0.7854 to name just three.
USDCHF and USDCAD have both traded tightly too but finding some dip demand and making a few gains during to the session.
Bitcoin opened above $9000 after last week’s retreat tested $8500 and we’ve seen highs above $9800 in a steady session.
Commodities generally lower with gold falling from $1322 to 1315 and WTI drifting down to $61.45 from $62.00
No data or speakers on the slate today so let’s see if NA desks can liven things up Article Source

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