Forex news for Asia trading for Tuesday 16 March 2021
- The Biden administration will not improve relations with Beijing until China stops its economic coercion of Australia
- CCP has asked Jack Ma to divest media interests
- Goldman Sachs forecast 2% 10-year yield - says not a problem for equities
- BNZ NZD/USD year-end forecast is 0.7600 (but could go even higher)
- New Zealand data: Credit card spending for January -0.1% m/m (prior +0.1%) and -10.6% y/y (prior -5.6%)
- More on concerns in the US that China could invade Taiwan in an accelerated timeline
- Thailand has reversed course - allows AstraZeneca vaccinations to go ahead after earlier suspension
- US' Vanguard Group has suspended plans to launch a mutual-fund business in China
- PBOC sets USD/ CNY reference rate for today at 6.5029 (vs. 6.5010 the previous day)
- Bank of Japan Governor Kuroda to speak from 0500GMT
- China Mobile is considering an A-share listing
- Japan finance minister Aso says Cabinet has approved cash handouts
- RBA March minutes: May be a pause in employment market on fiscal tapering
- The US SEC has laid charges over fraudulent stockmarket tweets
- AUD traders - heads up for RBA March 2021 policy meeting minutes due at 0030GMT
- Reports that 3 people in Germany have died due to blood clots after AstraZeneca vaccine
- Australia weekly consumer confidence 110.9 (prior 111.9)
- Japan will decide on Thursday on lifting its coronavirus state of emergency
- BoA oil forecasts - expect global demand to bounce, and then just keep on growing
- Is the ECB's cunning plan to manipulate the EUR lower working? Seems to be, yep.
- North Korea warns Biden that if it wants peace it needs to avoid 'causing a stink'
- South Korea terms of trade rise in February
- BOJ monetary policy meeting this week - preview
- Trade ideas thread - Tuesday 16 March 2021
- NZD traders - heads up for the GDT dairy auction coming up Tuesday
It was a quiet session indeed for major FX with very little movement. Traders cited the upcoming FOMC meeting, which is still more than 24 hours away, for the subdued session. Major FX is barely changed.
News flow was light. In an encouraging sign for AstraZeneca the Thai government reversed its decision to suspend the vaccine today, the Thai Prime Minister received a shot in his announcement of the recommencement of the country's vaccination program with the AZ product.
Data flow, too, was light.
Bitcoin continued to lose ground after its solid weekend when it traded higher than US$62K. The slide continued today, taking the price under US$54K (its just above as I post).
