Forex news for Asia trading for Wednesday 17 March 2021
- US identified 24 China & HK officials who have reduced Hong Kong's autonomy - warn of sanctions
- Australia - Government wage support and loan deferrals end at the end of March... the fiscal cliff
- China to allow more foreigners in ... if they’ve had a Chinese Covid vaccine
- Wednesday 17 March 2021 bring the Fed's FOMC day - preview
- US Sec State Blinken says China acting more aggressively, repressively
- NZD traders - comments from Fonterra saying expects shipping delays to clear by end-March
- Samsung says it may suspend its Note this year, cites chip shortage
- USD finding some bids in Asia as Chinese stock markets fall
- PBOC sets USD/ CNY mid-point today at 6.4978 (vs. yesterday at 6.5029)
- US House passed a two-month PPP extension in a 415-3 vote
- Honda is suspending some production at all US and Canadian plants due to supply issues
- Jack Ma's Alibaba’s “UC Browser” has been removed from several app stores in China
- Japan will raise tariffs on US beef imports for 30 days
- Australia (Queensland state) reports 4 severe reactions to AstraZeneca vaccination
- Singapore NODX (February) +8.2% m/m (expected -0.7%) and +4.2% y/y (expected +6.1%)
- More from RBA's Kent - doesn't think monetary policy should or can control asset prices
- South Korea says there is no reason to stop using the AstraZeneca coronavirus vaccine
- Japan trade data for February shows exports drop 4.5% y/y
- RBA's Kent expects a rise in business failures as fiscal support is phased out
- Japan - the latest Reuters Tankan (for March) shows some improvement
- US official says (on talks with China due this week) - talks will be robust, frank
- Australian PM Morrison highlights a 'great concern' on coronavirus outbreak (PNG)
- Plenty of Japanese media reports that Tokyo's state of emergency to lift on March 21
- The US is expected to sanction Russia, Iran, China for 2020 election meddling
- Wednesday 17 March 2021 is FOMC day - preview
- NZ data - Q4 current account pretty much on expectations, NZD unchanged
- The latest International Atomic Energy Agency report shows Iran edging closer to developing a nuclear weapon
- S&P affirms the US sovereign rating at AA+, says the outlook remains stable
- The Federal Reserve is the 'critical variable' influencing the USD
- Trade ideas thread - Wednesday 17 March 2021
- Private oil survey data shows headline draw in crude oil inventory
- France's PM says its time to think about a lockdown for the Paris area
The US Federal Reserve's Federal Open Market Committee meeting concludes today (US time) and Asia FX once again traded in quiet ranges. The yield on the US 10yr bond fell ever so slightly which helped currencies recover just a touch from a very minor dip earlier in Asia trade.
Stock markets in China saw some volatility, the CSI300 for example dropped 1% early before trading to a net circa 1% gain ... and as I update its more or less flat for the session.
News flow was very light.
On the AstraZeneca front, the firm's vaccine got further support out of Asia today. Yesterday the Thai government said it was proceeding with vaccinations, today South Korea said the same, noting there was no reason to not proceed with the AZ vaccine program. Australia continues to roll out its AZ vaccination program, or would do if the booking website had not crashed. Australia's health minister said there was 'no rush' with vaccinations. Talk about clueless.
China's CSI300: