Forex news for Asia trading on Tuesday 24 August 2021
- US Vice President Harris says China continues to coerce and intimidate in South China Sea
- No end in sight to semiconductor chip shortage - surging COVID-19 in Malaysia to weigh on production
- Australia Coronavirus - Pfizer vaccine to be available for people in Victoria aged 16 to 39 from tomorrow
- Goldman Sachs note 2 factors to send gold higher still
- US SEC has new disclosure requirements for Chinese companies seeking to list in New York
- PBOC sets USD/ CNY central rate at 6.4805 (vs. yesterday at 6.4969)
- NSW Premier to announce a loosening of restrictions for the fully vaxxed later this week
- New Zealand reports 41 new cases of COVID-19
- Another 750+ new cases for Sydney / NSW (Australia's largest population city and state)
- US President Biden will speak at noon (Washington time) Tuesday on Afghanistan withdrawal deadline
- Meeting between US President Biden and China President Xi Jinping may be delayed
- User reports indicate problems at Coinbase - site reportedly down
- Australia weekly consumer sentiment survey: 101.6 (previous week 101.1)
- Iran resumed fuel exports to Afghanistan last week
- ICYMI - PBOC Gov Yi Gang said will boost support in the months ahead
- New Zealand Retail sales excl. inflation for Q2: +3.3% q/q (prior 2.5%)
- NZ finmin Robertson says entered the lockdown with a strong economic position
- Australia's 2nd largest population state reports a lower new case count than yesterday
- Australia is already planning a third booster vaccine shot
- Goldman Sachs are forecasting a substantial economic contraction in Australia
- China's rulers have a new catch-phrase: cross-cyclical economic policy strategy
- Trade ideas thread - Tuesday 24 August 2021
- Morgan Stanley on AUD/NZD, still targeting higher
After a strong Monday for currencies against the USD there was a little pullback trade in Tuesday morning Asian trade. EUR, GBP, CHF, CAD and yen have all dipped slightly against the USD while AUD and NZD have pretty much tracked net sideways. Adu got some support from China, with iron ore, for example, continuing to gain, futures up more than 3.5% in morning trade.
News and data flow was very light indeed; New Zealand Q2 retail sales came in strong, confirming (if needed) that the economy was in good shape heading into the latest lockdown.
Regional equities are higher, Japan, China and HK all up on the session
Bitcoin had a small wobble lower - there were user reports of US 'exchange' Coinbase being down. Crypto infrastructure issues can often have a bit of a hit, this one was small.
