ForexLive Asia FX news wrap: USD up, gold and BTC also
Forex news for Asia trading for Tuesday 13 April 2021
- RBNZ monetary policy meeting Wednesday 14 April 2021 - preview
- China Q1 2021 trade balance data shows exports +38.7% y/y (yuan terms)
- Australia March business confidence 15 (vs. prior 16) and business conditions 25 (prior 15)
- PBOC sets USD/ CNY reference rate for today at 6.5454 (vs. yesterday at 6.5578)
- Oil prices - "pockets of strength interspersed with areas of weak demand"
- Goldman Sachs updated forecast for USD/JPY is 103 (12 months horizon)
- Monetary policy decision due from the Monetary Authority of Singapore on Wednesday - preview
- Australia weekly consumer confidence: 114.1 (prior 107.7)
- UK BRC Sales like-for-like for March +20.3% y/y (expected 12.0%)
- Canada confirms support packagae for Air Canada
- New Zealand - Card Spending for March, total spending +2% m/m (prior -3.2%) and retail spending +0.9% m/m (prior -2.5%)
- UK medical press (Lancet) reports UK coronavirus strain spreads faster, but not as deadly
- More from Fed's Rosengren: Fed rate hike at least two years away
- New Zealand Q1 business confidence (NZIER QSBO) shows a modest improvement
- More on Biden and the 5c gas tax hike - Biden not in favour of it
- RBNZ monetary policy meeting this week ... here is (not really a) preview
- Trade ideas thread - Tuesday 13 April 2021
- Australia and a significant downside risk to an otherwise positive economic outlook
The USD showed a little strength during Asian morning trade here today against a backdrop of slightly higher US yields. USD/JPY tested back to its high yesterday in Asia circa 109.60... and, as I post, above.
Other currencies dropped back against the dollar also, AUD and NZD were big losers (relatively speaking, ranges were small only) but are off their lows as I post. EUR, CHF, CAD, GBP all a touch softer on the session also.
Gold and BTC, it should be noted, both held up well against the dollar, both adding on a little.
News flow was light during the session.
On the data front we had a strong business survey report from Australia (the National Australia Bank monthly report on business confidence and conditions) with record highs for many of the indexes. China published Q1 trade balance data.
Japan's Nikkei +1%, Topix +0.7%
China's Shanghai Composite +0.13%
Hong Kong's Hang Seng +1.25%
Australia's S&P/ASX 200 +0.01%