Forex news for Asia trading on Wednesday 7 July 2021
- USA - A tornado watch issued as Hurricane Elsa approaches Florida
- China's state media says don't bet on further declines for the yuan
- Société Générale also see plenty more downside to AUD/NZD
- Reserve Bank of Australia 'chart pack' for July published
- PBOC sets USD/ CNY reference rate for today at 6.4762 (vs. yesterday at 6.4613)
- Australia coronavirus - Sydney’s lockdown extension officially confirmed
- TD see gold bouncing back above US$1900 - says the market is wrong on the Fed
- Australia, meet your next RBA Governor (spoiler alert Debelle)
- Bank of America remains core bearish bias on EUR/USD
- Another NZ bank forecasts an RBNZ rate hike in November
- Australia coronavirus - Sydney lock down one-week extension, here's what that costs
- Oil price lower: OPEC, Saudi Arabia, UAE, US ... where we at summary
- Australia - AiG Services PMI for June: 57.8 (prior 61.2)
- A China ICYMI - PBOC stepped up its ban on cryptocurrency operations
- Japan's latest extra fiscal spending stimulus expected to be circa US$180bn
- Federal Reserve FOMC minutes (June meeting) are published Wednesday 7 July 2021
- Rocket attack targeted a US base in northern Iraq (Erbil airport)
- Trade ideas thread - Wednesday 7 July 2021
- Oil - Goldman Sachs is bullish, says a price war does not make any sense right now
USD/JPY dropped on the session here and with other major currencies pretty much flat against the USD it was a lower result for yen crosses. USD/JPY fell from above 110.60 as US markets finished up for the day (Tuesday) and subsequently declined to touch a low just under 110.40, for a small range only but one of the few movements we had for major FX.
Gold added on a few dollars to trade back above $1800 while Bitcoin is also a touch better bid. Oil is little changed on the day. Regional stocks followed the lead from Wall Street and fell on the session.
News and data flow was very light with markets awaiting any cues from Wednesday's release of Federal Open Market Committee minutes (for the June meeting).
