Forex news for Asia trading for Wednesday 17 February 2021
- ICYMI: North Korea attempted to steal Covid-19 vaccine technology from Pfizer
- US big freeze - Chevron has shut in significant production in the Permian Basin
- Australian job vacancies rise
- There will be a US White House COVID-19 press briefing at 11am NY time Wednesday
- Bitcoin had given $50,000 a nudge again
- "We have inflation, we are seeing inflation, we are concerned about inflation."
- Texas is warning that fuel shortages are developing in the western half of the state
- US President Biden says every American who wants a Covid-19 vaccine will be able to get one by the end of July 2021
- More from RBA's Kent - says again Aud would have been higher if not for the RBA
- Yellen is committed to re-engage in OECD talks on international taxation
- China's Global Times says preliminary talks to list TikTok on the NYSE
- FX option expiries for Wednesday February 17 at the 10am NY cut
- RBA's Kent says the Australian dollar would be 5% higher if it wasn't for the RBA policy steps
- Japan Coast Guard says four Chinese vessels entered Japan's territorial waters this week
- Singapore January exports rise at their fastest in 7 months
- An early preview of the next RBA monetary policy meeting (and beyond)
- Australia's NSW state to begin vaccine rollout from Monday
- Japan trade figures released earlier - MoF highlights exports to China
- Japan Core Machinery Orders for December +5.2% m/m (expected -6.1%)
- Japan trade balance for January -323.9bn yen (expected Y -625bn)
- Australia - Westpac leading indicator for January +0.26% m/m (prior +0.12%)
- USD catches a fresh bid, EUR/USD now under 1.2100
- Reuters Japan Tankan for February: Manufacturing index +3 (prior -1)
- Coronavirus lockdown restrictions to ease today in Australia's second largest population state
- Yellen and Lagarde spoke on policy tools to boost growth and jobs in US & Europe
- Johnson & Johnson intends to distribute 100m vaccine doses to the US in the first half of 2021
- Trade ideas thread - Wednesday 17 February 2021
- USD/JPY hits 106 ... Suga, Aso tag team did the trick
The USD added on more gains in early Tokyo trade with momentum carrying on from its surge during US hours. EUR, AUD, GBP, NZD, CAD, yen and CHF all fell against the dollar, although none of the moves were large. There was no fresh news crossing to catalyse the move, it was carry-through momentum. There have been subsequent retracements to varying extents. On Tuesday Asia ignored rising US yields but overnight moves, and early here, did a catch-up. EUR/USD is having a hard time showing much of a bounce and looks to have further room to fall on the rising yields.
On the data front it was another show of some improvement for the Japanese economy (see bullets above) although with the fresh state of emergency in January there is a challenge ahead. USD/JPY got as high as just over 106.20 but has since slipped back under the figure.
As a heads up China is back on Thursday (local time). There was continued unwinding of the strong offshore yuan trade ahead of the first People's Bank of China onshore yuan fixing for about a week tomorrow.
