Forex news for Asia trading on Monday 2 August 2021
- RBA monetary policy meeting Tuesday 3 August 2021 - preview
- China fines 3 private tutoring firms
- China has put travel restrictions on place for some areas due to rising new coronavirus cases
- China Caixin Manufacturing PMI for July 50.3 (prior 51.3)
- Australia ANZ Job Ads in July -0.5% m/m (prior +3%)
- Australia - Melbourne Institute monthly CPI inflation for July 2021 0.5% m/m (prior 0.4%) and 2.6% y/y (prior 3.0%)
- PBOC sets USD/ CNY reference rate for today at 6.4660 (vs. Friday's 6.4602)
- NSW / Sydney coronavirus new cases above 200 again today
- Here we go - US Infrastructure bill introduced onto Senate floor
- Britain to offer vaccine booster shots for 32 million people in September
- Japan Jibun Manufacturing PMI for July 53.0 (prelim was 52.2, prior 52.4)
- Another Australian state gets a lockdown extension (not the whole state, SE Qld)
- Japan's government pension funds cut its weighting of US bonds by a record amount
- UK data - Lloyds Bank Business Barometer for July 30 vs. prior 33
- Australian lockdown state NSW looks to accelerate vaccinations in effort toward early easing
- RBA monetary policy meeting Tuesday 3 August 2021 - preview
- Australia - Markit Manufacturing PMI for July (final): 56.9 (flash was 56.8, prior 58.6)
- Square has agreed to buy Australian payments company Afterpay (all-stock transaction circa USD 29bn)
- Australia - AiG Manufacturing PMI for July: 60.8 (prior 63.2)
- August forex seasonals: The danger zone
- Weekend PBOC statement - will maintain prudent, flexible & targeted monetary policy
- Oil - US & UK governments say Iran attacked Israeli-managed tanker off Oman
- US vote on $1tn infrastructure bill could be held “in a matter of days"
- Trade ideas thread - Monday 2 August 2021
- Monday morning open levels - indicative forex prices - 02 August 2021
- Central bank rundown as GBPJPY upside opens up
- Weekend data - China PMI Manufacturing 50.4 (expected 50.8, prior 50.9) Non-manufacturing 53.3 (exp 53.3, prior 53.5)
- Central bank rundown as AUDCAD sell bias opens up
Sentiment got a bit of a boost during the session with the US Infrastructure bill being introduced to the floor of the Senate on Sunday evening US time. The text was a result of prolonged bipartisan negotiation and will now undergo amendments. Political pundits say a vote on the (yet-to-be-amended) bill will take place later this week.
On the other side of the sentiment ledger were Chinese authorities fining 3 private education firms (the crackdown on this sector was a catalyst for declines on China equity markets last week) and also an accelerating COVID-19 outbreak in the country (and an increase in restrictions). Manufacturing PMIs from China over the weekend and Monday slipped from the prior month's results.
Its been a mixed picture for markets with oil prices dribbling lower in Sunday evening US trade, Chinese stock markets lower (HK and Shanghai Comp both a touch lower as I post ... live update just prior to going to post ... both these now positive for the session!). Equities in Australia rose, helped along by the announcement Square was to acquire a local buy-now-pay-later firm for circa $US23bn in stock. Across major FX rates there have been small ranges and overall little net change from late Friday levels.
Bitcoin had a decent weekend largely holding its late-week gains but has given a little back through the Monday session here. BTC/USD is back under US$40K as I update, but not by much.
Etheruem had a solid weekend but is down from its early Monday high:
