Forex news for Asia trading on Monday 13th September 2021
- Highlights of what's to come this week - likely market movers
- TSMC to build advanced chip plant in southern Taiwan, to begin production 2023
- More on Typhoon Chanthu hitting Shanghai - some port operations suspended
- NZ economists downgrade near term growth forecasts, see CPI rising
- Pentagon response to North Korea missiles - a threat to region
- PBOC sets USD/ CNY reference rate for today at 6.4497 (vs. estimate at 6.4507)
- Australia COVID-19 vaccination update - late October expected 2-dose to hit 80%
- ANZ New Zealand business survey, preliminary for September, business confidence -7 and activity 18
- Typhoon Chanthu on approach to mainland China - Shanghai shuts schools, suspends flights
- US coronavirus - Former FDA head says vaccine approval for ages 5 to 11 by the end of October
- Fed's Harker says FOMC should start tapering soon, hopefully this year
- Goldman Sachs says global oil market is set to `rally significantly'
- US Senator Manchin says he will not vote for a 3.5tln plan
- South Korea first 10 days of September exports per work day +30.7% y/y
- Japan PPI for August 0.0% m/m (vs. expected 0.2%)
- China wants to break up Jack Ma’s Ant Group's Alipay
- NZ data - August Food Price Inflation Index +0.3% m/m. The fifth rise in a row.
- US House Democrats considering a 26.5% corporate tax rate
- South Africa is easings its COVID-19 restrictions as the current wave recedes
- North Korea test-fired long-range cruise missiles over the weekend
- Weekend - SNB's Zurbruegg says negative rates are still required to prevent a rising CHF
- Iran and the UN’s nuclear agency reached an agreement on Sunday, talks will continue in September
- Trade ideas thread - Monday 13 September 2021
- China COVID-19 - Outbreak in Putian, Fujian province, residents are being discouraged from leaving
- Monday morning open levels - indicative forex prices - 13 September 2021
- Weekend energy headlines - Merkel on Nord Stream 2, UN moves to bring Iran back to talks
- China's issues further orders to tech firms including Alibaba, Tencent, ByteDance, Baidu
- My thoughts and remembrances of people and events that shaped my life and others on 9-11
Mixed moves for currencies and, in the bigger picture, not a lot of net change with the small swings we did see. NZD/USD is a touch weaker, the delta outbreak is proving persistent in the country with the highest new case number in a week or so reported today. NZ economists lowered their GDP outlook fir the near term (see bullets above).
AUD/USD is a touch higher. The move is minor, barely a few points up on the day. EUR/USD is down a few ticks again very little in it. There isn't juch different to say about any other of the majors.
Oil traded higher. The UN and Iran reached an agreement over the weekend that looks promising for continuing talks on nuclear issues with the UN and US. If further agreement can be reached the way is paved for Iran to return more fully to oil markets, but this is still some way off course, if at all.
Bitcoin was active, it had a move above USD46K and a drop under 45K from there ... rebounded and dropped again! A major news wire carried the story about South Korea's crackdown scheduled for September 24, this has been a known known for many months. Aklso in the news, the Democrats tax plan (see bullets above) says it'll be treating crypto gains just like any other financial product for taxing purposes. Which seems obvious, why would they not?
It was quite the day for news, major headlines are bolded above.
Regional equities:
Japan's Nikkei +1.2%
China's Shanghai Composite +0.3%
Hong Kong's Hang Seng -1.7%
