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:
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:
BTC
ticked a little higher during the session here:
