Forex news for Asia trading on Wednesday 19 May 2021

There were further declines for cryptocurrencies during the session here with Bitcoin on the slide to under $41K. Musk got the ball rolling on the slide last week with his 'not accepting BTC as payment' tweet and he has been more or less relentless since then (ForexLive has been posting updates on his remarks).

As I post:

  • BTC circa 40,448
  • DOGE 0.42418
  • ETH 3,089

Regional equities have been on the sad side also following the drop on Wall Street Tuesday. Europe is not looking good coming up.

In the FX space we have seen a subdued session with NZD, CAD, AUD, GBP, yen, CHF all down against the dollar (ranges are not large) with EUR/USD more or less unchanged.

Data of note included that for Australian wages in Q1 this year, a slight beat and analysts have taken some encouragement from the slightly better figures. Bear in mind though that there has been volatility introduced into this data set as the economy emerges from, and occasionally slips back into, lockdowns.

News flow was reasonable light, summarised, as always, in the bullets above.

Regional equities:

  • Japan's Nikkei -1.4%

  • China's Shanghai Composite -0.38%

  • Hong Kong's Hang Seng ... closed for a holiday today

  • Australia's S&P/ASX 200 -1.87%

BTC update:

Forex news for Asia trading onWednesday19May 2021