Forex news for Asia trading for Monday 19 April 2021
- Osaka's Governor to request a state of emergency declaration
- Goldman Sachs expect US stock market volatility to climb much higher in the weeks ahead
- China’s State Planner says in Q1 approved 16 fixed-asset investment schemes worth 45.4 billion yuan
- South Korea says it is increasing its monitoring of virtual asset transactions
- Taiwan's central bank governor defends FX market intervention
- JP Morgan still like the US dollar higher
- PBOC sets USD/ CNY reference rate for today at 6.5233 (vs. Friday at 6.5288)
- Japan analysts says US Treasury unconcerned over yen manipulation
- Canada - Ontario will begin offering the AstraZeneca COVID-19 vaccine to people aged 40+ from Tuesday, April 20
- Japan March exports surge +16.1% y/y (vs. expected +11.4% and -4.1% in February)
- Rumour that US President Biden will accept a 25% corporate tax rate (instead of 28%)
- Bitcoin weekend price drop, explanation #2 (or is it #3?) is the China power blackout
- UK data - Rightmove house prices for April +2.1% m/m & +5.1% y/y (prior 0.8% m/m and 2.7% y/y)
- US authorities warn consumers of the danger of Peloton exercise machine
- New Zealand services PMI for March 52.4 (prior 49.1)
- ECB, BOC, PBOC all on the docket this week
- Canada's Budget to include tax on residential property owned by non-residents
- ICYMI - Reports China has given banks permission to import large amounts of gold
- Bitcoin weekend price drop - biggest in nearly 2 months
- Trade ideas thread - Monday 19 April 2021
- US Senate Republicans could be supportive of a smaller Infrastructure Bill
- UK navy ships to head to the Black Sea in May (re rising Ukraine-Russia tensions)
- Monday morning open levels - indicative forex prices - 19 April 2021
- Black Sunday for crypto as bitcoin and others plunge
- Goldman Sachs says it's time to buy the euro
- Video: Non-trend transitions to trend. Make that simple phrase a part of your trading mindset
Bitcoin dropped sharply over the weekend. Various explanations have been offered up:
US Treasury eyeing increased regulation to combat money laundering via digital assets
blackouts in China's Xinjiang region said to be caused by a coal mine explosion in Xinjiang on April 10 weighing on BTC's hash rate a week later
'whale' selling (ahead of the expected hash rate drop)
The price of the crypto has stabilised somewhat in the past few hours, BTC/USD is back above US$57K as I post.
US stocks opened the week (Sunday night Globex equity futures trade) on a heavy note, declining initially but since recovering (as I post) to be positive for the session. Local equity markets in the region gained.
On the FX front its been a mixed bag, with EUR quite weak against the dollar but, after earlier being much the same, some recovery for AUD, NZD, GBP. They are less weaker than EUR.
On US political news, Republican Senators are said to be supportive of a US infrastructure bill at a lower amount that US President Biden's proposed $2tln+ amount, it also appears likely the US tax rate on corps will be set at 25%, not Biden's favoured 28%.
Regional equities:
Japan's Nikkei +0.2%, Topix +0.1%
China's Shanghai Composite +1.19%
Hong Kong's Hang Seng +1%
Australia's S&P/ASX 200 +0.21%
