Forex news for Asia trading on Friday 27 August 2021
- Early RBA preview - CBA expect a reversal of the taper decision
- Evacuations from Afghanistan are being accelerated
- Economic calendar due from the US today, Friday 27 August 2021
- New Zealand reports 70 new COVID-19 cases
- China July Industrial profits +16.4% y/y and +57.3 y/y YTD
- Australia Retail Sales for July -2.7% m/m (expected -2.3%)
- The latest on Fed Chair Powell's job prospects - Biden advisers support him as next Chair
- PBOC sets USD/ CNY mid-point today at 6.4863 (vs. yesterday at 6.4730)
- 882 new COVID-19 cases for Sydney / NSW (Australia's largest population city and state)
- Australia Technical Advisory Group on Immunization recommends vaccine for 12-year-old and above
- Australia is beginning its transition to living with the virus
- Here's the link to the full Jackson Hole central banker speaking schedule
- ICYMI - TSMC, the world’s largest (semiconductor) chip maker to raise prices
- Japan inflation data - Tokyo headline CPI -0.4% y/y (vs. expected 0.0%)
- China Securities Journal: PBOC likely to cut RRR, increase supply of credit, soon
- Coronavirus - Australia's 2nd largest population state reports a steady new case count
- US military death toll mounting from Kabul attack, 13 confirmed dead
- New Zealand consumer confidence falls to 109.6 in August from July's 113.1
- Energy producers have begun moving nonessential crews from US Gulf platforms
- Heads up - dire forecast for US northern Gulf coast Sunday
- Japan media says the Australian dollar faces a sell-off risk
- Trade ideas thread - Friday 27 August 2021
- More from Fed's Kaplan - Fed rate liftoff would be appropriate in 2022
- Fed's Kaplan says again he sees resilience in the economy to the Delta mutant
During US time we had hawkish comments out of numerous Fed officials ahead of Chair Powell's speech scheduled for Friday morning, US time:
In morning trade Asia took the USD up a little, with drops for EUR, AUD, NZD, GBP and CAD. Those, admittedly small, moves have backtracked and all those currencies are now, as I post, more or less unchanged on the session.
News flow has been light and data flow not much more. Australian retail sales in July fell more than expected (lockdown impacts cited). Chinese industrial profit growth slowed just a little in July from June.
While on China, the People's Bank of China continued to add liquidity to the banking system again today with the third consecutive daily net injection of 40bn yuan via open market operations. The total is a net 120 bn yuan added for the week. This is the largest weekly injection since start of February.
Regional equities:
Japan's Nikkei +0.06%
China's Shanghai Composite +0.77%
Hong Kong's Hang Seng +0.85%
EUR/USD Asia round trip:
