Forex news for Asia trading on Tuesday 11 May 2021

US timezone moves continued on here in Asia for the early part of the session with lower rates for EUR, AUD, CAD, NZD, GBP against the US dollar and US equity index futures following through lower also.

The moves did not carry on for too long though and as I post currencies are now showing mixed, with EUR, AUD net positive for the session.

News flow was light, same for data releases.

China CPI and PPI data was released during the session. Most notable was the PPI coming in well above the central median estimate while CPI was a touch lower than its. Industrial commodities in China futures today eased back from their rapid-pace gains.

On coronavirus news, HK extended its social distancing rules for another two weeks. Malaysia widened its restrictions to the entire country, effective through to early June.

Regional equities dropped flowing the falls in the US on Monday:

  • Japan's Nikkei -2.8%, Topix -2%

  • China's Shanghai Composite -0.49%

  • Hong Kong's Hang Seng -2.11%

  • Australia's S&P/ASX 200 -1.21%

BTC had an early drop and is back heading down again as I update:

Forex news for Asia trading onTuesday11May 2021

DOGE remained soft also, as did ETH.