Forex news for Asia trading on Thursday 21 October 2021
- More on China's media crackdown
- Federal Reserve speakers scheduled for Thursday 21 October 2021
- AUD, CAD the notable gainers during Asia morning trade
- New Zealand credit card spending for September -12.9% y/y (prior -6.3%)
- The PBOC says again it'll be monitoring financial risks, providing support (here's why...)
- Reuters poll shows dramatic earlier forecasts for first BoE rate hike
- China Evergrande prop services shares to recommence trading today - indicating down 8% opening level
- Japan's industry ministry warns of tightest electricity supply / demand balance in a decade
- PBOC sets USD/ CNY reference rate for today at 6.3890 (vs. estimate at 6.3884)
- Brent crude oil has risen to its highest in three years, above $86/bbl
- Australian high-frequency labour market data shows improvement
- Australia NAB business confidence for Q3 falls (COVID-19 lockdowns)
- South Korean exports continue to surge
- Japan election October 31 - Nikkei polling shows a very tight contest
- 160 opposition party members of Congress tell Biden to fix supply chain issues before any new spending
- ICYMI - Moody's says US supply chains stress is intensifying, could slow economy in coming months
- Morgan Stanley short EUR/USD targeting towards 1.14
- ICYMI - Pimco to gradually invest and trade more in cryptocurrencies
- New Zealand interest rates to consumers rising sharply
- UK says has reached an in-principle free trade agreement with New Zealand
- South Korea's wholesale prices rose at their fastest since 2011 in September
- AUD/USD expected to end the year circa 0.75
- Trade ideas thread - Thursday 21 October 2021
- Fed's Mester says interest rate hikes are not coming any time soon
- Brexit ICYMI - Potential French sanctions on the UK, energy & trade by the end of the week
CAD, AUD and NZD all traded higher against the USD during the session here with still-solid oil prices underpinning especially CAD (see bullets above). EUR/USD has inched a little higher also while yen, CHF and GBP are all little net changed.
There was not a lot of news nor data flow on the session of much note. We did get comments after the US close from Federal Reserve Cleveland President Mester but nothing surprising.
On the crypto front Bitcoin gave back some of its US time rally, dropping back to under US$65K. Ether gained.
