ForexLive Asia FX news wrap: A little USD strength

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Friday 19 November 2021

It was a sedate session in Asia for major FX rates with some USD strength evident against yen, EUR, GBP, AUD and CHF. Some of the moves were tiny, others small only. EUR/USD, for example, is around 15 points lower from its late US-time level.

CAD was fairly steady, oil prices gained, which assisted. NZD/USD was steady also. The Reserve Bank of New Zealand monetary policy meeting is next week, on Wednesday the 24th; a 25bp rate hike is baked in. Although I'd suggest 50bps is not on the agenda it would be remiss not to mention that market pricing is not dismissing the prospect. I'll have more to come on the RBNZ next week.

In Japan, Prime Minister Kishida set out the new stimulus program, with around half a trillion USD equivalent of new fiscal spending. In China, reports are that the government is looking at ways to cut taxes and fees by around 500bn yuan. Biden's Build Back Better plan was debated in the US Congress. 

BTC slipped a little further: 

Forex news for Asia trading onFriday19November 2021

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