Forex news for Asia trading on Tuesday 7 September 2021
- ICYMI - Its a week packed with Federal Reserve speakers
- CBA on the coup in Guinea and what it means (bauxite, aluminium)
- George Soros says BlackRock has misunderstood Xi's moves in China, has made "a tragic mistake"
- ICYMI - El Salvador bought 200 Bitcoin, takes its holdings to 400
- New Zealand Prime Minister Ardern says is sourcing more vaccines
- Japan household spending grew less than expected in July - recap
- PBOC sets USD/ CNY central rate for today at 6.4533 (vs. vs. estimate at 6.4519)
- Australian new COVID-19 cases each day holding at high levels - vaccination race on
- NZD traders - heads up for the GDT dairy auction coming up Tuesday
- Goldman Sachs have downgraded their US GDP forecasts for 2021, but upgraded 2022
- CBA on "an extraordinary negative near-term shock for the Australian economy"
- RBNZ Deputy Governor Geoff Bascand will leave the Bank in January 2022
- Australian weekly consumer sentiment drops again, 100.0 for the week
- Japan contender for PM wants more fiscal support, package of 30tln yen
- Japan Household spending for July -0.9% m/m (expected +1.1%)
- Japan data - Labor cash earnings +1.0% y/y (expected 0.8%)
- Iron ore fell again on Monday, AUD traders eyeing
- UK data - BRC Sales like-for-like for August +1.5% y/y, total sales +3% y/y
- US President Biden on large companies paying zero tax: "It’s just plain wrong"
- AiG Services PMI for August drops to 45.6 (prior 51.7)
- RBNZ Governor Orr says the New Zealand lockdown highlights how disruptive the virus can be
- El Salvador buys 200 bitcoins, adopts the crypto as legal tender from 7 September
- Magnitude 6.5 earthquake Canada
- Coronavirus - UK plans for mask rules heading into winter
- The RBA will delay its taper today - here's why
- Germany's Economy Minister Altmaier has been taken to hospital, 'health emergency'
- Trade ideas thread - Tuesday 7 September 2021
Major forex rate moves were confined to very small ranges but it was the USD drifting towards the bottom end of those ranges pretty much across the board. USD/JPY is down around 15 points on the session with the data releases having little initial impact and nothing much substantive on the way of news. A 15 point drop for USD/JPY is not substantive either.
EUR, AUD, GBP, NZD, CAD and CHF are all a touch higher against the dollar also.
Of note from New Zealand today, its benchmark 10-year government bond yield hit its highest level in over 2 two years, markets are very much focused on an Reserve Bank of New Zealand rate hike at its next meeting, October 6.
Still to come today from Asia, the RBA policy announcement and Governor Lowe's accompanying statement.
Regional equities:
Japan's Nikkei +1.8%
China's Shanghai Composite +0.7%
Hong Kong's Hang Seng +0.6%
Also, if you are just arriving back from a long weekend and need a quick catch up, here are the summaries of the Monday Asia, Europe and US sessions:
- ForexLive Americas FX news wrap: Light moves in holiday-thinned trading
- ForexLive European FX news wrap: Dollar recovers light ground after Friday's NFP miss
- ForexLive Asia FX news wrap: Oil, iron ore down ... aluminium, coal up
BTC ticked a little higher during the session here:
