Forex news for Asia trading for Thursday 22 April 2021
- Tokyo Motor Show to be cancelled
- The Singapore / Hong Kong 'travel bubble' appears to be facing delay
- Bitcoin hits a low for the week under $53K
- JPMorgan on the outlook for CAD, AUD and yuan (video)
- Australian Q1 business confidence 17 (vs. 14 prior)
- PBOC sets USD/ CNY reference rate for today at 6.4902 (vs. yesterday at 6.5046)
- Tokyo's Governor has asked Japan's government to declare a state of emergency in the city
- European Central Bank policy meeting Thursday 22 April 2021 - preview
- Magnitude 5.7 earthquake offshore Chile
- US economy forecast to grow at its fastest in nearly 40 years
- New Zealand new lending rules to be introduced
- Fitch on Australia-China co-dependency
- WSJ reports that Credit Suisse’s exposure to Archegos grew to over $20bn
- Potential ahead for significant AUD volatility - recommendation is to buy dips
- The key question for other central banks after the Bank of Canada hawkish tilt
- NZD/USD seen little changed on six-month horizon (forecast)
- Bain Capital may be the next to bid for Toshiba
- Video: The BOC breaks ranks with global central banks and the loonie soars. What's next
- The US SEC is said to be examining fund disclosure rules after Archegos blowup
- Coronavirus - J&J vaccine Phase 3 trial published today
- Trade ideas thread - Thursday 22 April 2021
- China's Global Times says Australia faces serious consequences for unreasonable provocation against China
- Canadian court to adjourn Huawei's Meng Wanzhou extradition hearing to August
The Australian and New Zealand dollars held their gains from overnight on the Bank of Canada decision Wednesday (CAD time). Neither added to their overnight gains though, while EUR/USD managed to track a few points higher ahead of Thursday's ECB announcement (see previews above, but spoiler - no change to policy is expected). Cable is also a few points higher on the session.
USD/JPY yet again tested 108 (from the topside, for the third session in a row in Asia) and once again has not extended below there.
The People's Bank of China set the mid-rate for USD/CNY lower again today (i.e. stronger for onshore yuan).
News flow was light, we received further info in the impending fresh emergency declarations in Japan in response to mounting COVID-19 cases. Data flow, too, very light indeed.
Bitcoin lost some ground, trading back under US$53K at one stage,
USD/CAD has remained off its Wednesday (CAD time) lows but the bounce has been small compared with its dramatic drop on the BOC.
Regional equities:
Japan's Nikkei +2.1%, Topix +1.8%
China's Shanghai Composite +0.08%
Hong Kong's Hang Seng +0.43%
Australia's S&P/ASX 200 +0.34%
US yields ticked a little lower.
USD/CAD:
