Forex news for Asia trading for Thursday 1 April 2021
- China has issued a strong warning to Japan over ‘negative moves’ in East China Sea dispute
- Preview look at the OPEC+ meeting today, on Thursday 1 April
- Canada - Ontaria coronavirus lockdown for 28 days
- China Caixin/Markit Manufacturing PMI for March: 50.6 (expected 51.4)
- The global semiconductor shortage may be setting up a RAM manufacturer merger
- PBOC sets USD/ CNY reference rate for today at 6.5584 (vs. yesterday at 6.5713)
- Heads up for Asian market holidays on Friday 2 April 2021
- Japan - Jibun Bank/Markit Manufacturing PMI (final) for March 52.7 (prior 51.4)
- Australia Retail Sales for February, final: -0.8% m/m
- Australia trade balance for February AUD 7529m surplus (prior 10142m surplus)
- Australia - housing finance data for February, headline home loans -0.4% m/m
- Yen forecasts from the Bank of Japan Tankan survey
- U.S. Treas Secy Janet Yellen to revive a dormant regulatory group re hedge funds risks
- BOJ Q1 2021 Tankan: Large Mfg Index 5 (vs. -1 expected)
- US Business Roundtable and Chamber of Commerce are not fully behind Biden's plans
- Biden's corporate tax hike no one should complain about is being complained about
- Australia data - CoreLogic House Prices for March: +2.8% (prior +2.0%)
- Australia coronavirus - Queensland lockdown to be lifted from noon today
- A UN report says North Korea can likely arm its intercontinental ballistic missiles with nuclear warheads
- Goldman Sachs on what US President Biden didn't say
- Australia - Markit Manufacturing PMI for March (final) 56.8 (vs. prior 56.9)
- Japan to bring in COVID-19 restrictions in two prefectures - Hyogo, Miyagi
- Australia - AiG Manufacturing PMI for March: 59.9 (prior 58.8)
- US media reports the Johnson & Johnson vaccine delayed by a 'mix up'
- US President Biden says no one should complain about a 28% corporate tax rate
- NZ data - ANZ Consumer Confidence Index for April -2% m/m (prior -0.6%)
- US President Biden says infrastructure contracts only going to US firms
- Trade ideas thread - Thursday 01 April 2021
- US government says significant trade barriers are harming American companies and farmers, singles out China
Those (in the headline) three were the biggest losers against the US dollar during the timezone here today. There was plenty of data released for Australia (a mixed bag) but these do not really explain the drift lower for all three currencies. US President Biden outlined his infrastructure plan, and corporate tax hike, but these were reasonably well flagged ahead of time. There was also news of a delay of increased production in J&Js vaccine (see bullets above).
Oil price weakness is a potential smoking gun for the commodity currency weakness, we get the OPEC+ decision on output later Thursday so this may well be reversed.
The Canadian province of Ontario is to go into a 28 day coronavirus lockdown. Japan is to tighten COVID-19 related restrictions in Osaka and 2 prefectures.
Yen was relatively steady, CHF is a touch weaker.
There are market holidays across most major forex centres in Asia tomorrow (Friday) but Japan is trading (see bullets above).
