ForexLive Asia FX news wrap: Awaiting the FOMC

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Wednesday 16 June 2021

There were some minor moves across major forex rates during the Asian session here today with some position-squaring (and opening!) continuing heading into Wednesday US Federal Reserve Federal Open Market Committee decision (1800GMT) and Chair Powell's press conference following (1830 GMT).

EUR/USD has ticked a few points lower, and the USD also traded a little higher against the yen and CHF. Cable is barely changed, as is USD/CAD. Both the Australian and New Zealand dollars added a few points against the US dollar. Please note ranges for all were very small indeed, if you are inclined to dismiss the moves I have described as irrelevant it would be difficult to argue with you.

There was no fresh news of impact, data releases were from NZ, Australia and Japan (see bullets above). There is still data to come from China today, due at 0700 GMT.

Oil continued to tick higher, helped along somewhat by a large (largest in 5 months) headline draw (but do note the 'product' builds - see bullets above).

Gold dribbled a little lower, towards its US afternoon lows but not quite getting there. BTC/USD straddled $40K.

gold chart 16 June 2021 fomc

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