- Shanghai is rolling out economic support policies for firms as lockdown bites
- ICYMI - Opinion piece - U.S.-EU gas deal won’t be enough to replace Russian supply
- EUR/USD - heads up for large option strikes in play at 1.1000 (& more close by)
- PBOC sets USD/ CNY central rate at 6.3640 (vs. estimate at 6.3601)
- China financial press says PBOC is likely to cut the RRR soon
- Japan finance minister Suzuki comments on negative yen weakness
- Australian February retail sales come in above expected at +1.8% m/m
- Goldman Sachs is entering the house-flipping market.
- BOJ Summary of Opinions at the Monetary Policy Meeting on March 17 and 18, 2022
- Japan media sources - PM Kishida says has ordered a stimulus package by the end of April
- Japan February jobs data: Unemployment rate 2.7% (vs. expected 2.8%)
- BNP on what to watch that'd trigger another downward spiral for the yen
- Australian weekly consumer confidence survey falls further, to 91.1
- Kremlin says would use nuclear weapons if there was a threat to the existence of the state
- Oil price drop - China (Shanghai) COVID-19 lockdowns cited
- AUD traders - Federal Budget to be announced Tuesday evening local time
- Forexlive Americas FX news wrap: Oil prices plummet on Shanghai lockdown/end of war hope
- Updated forecast for Bank of Canada rate hikes - 50bps seen in April and again in June
- Trade ideas thread - Tuesday 29 March 2022
- UK Ministry of Defence latest intelligence update
USD/JPY in particular had a substantial swing, from lows early in the session here under 123.50 it touched (briefly) over 124.25 and as I post has dropped all the way back to that earlier low. Its circa 122.30 now and on its lows for the day so far. The Bank of Japan was once again in the JGB market with an unlimited interest for 10yrs at 0.25%. The Bank announced during Monday’s operation it would also be in today, Wednesday, and Thursday.
EUR/USD headed up towards (but not reaching) 1.1000. Note in the bullets above a heads up to large NY cut option expiries at 1.1 and thereabouts. These should ensure stickiness in the price around these levels barring any news that can substantially shift the price.
AUD, NZD, GBP all followed similar patterns.
Oil dropped upon the reopening of futures trade for Monday evening in the US but have subsequently retraced to fill the ‘gap’.
Oil:
The lead in to the Asia session:
