ForexLive Asia FX news wrap: BTC lower again

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Tuesday 20 April 2021

The Australian, Canadian and New Zealand dollars all traded higher against the US dollar during the session, easily outperforming. More murmurings of commodity price gains did the rounds assisting these currencies higher.

USD/JPY had an early move down, it took out a few stop loss sells down as low as just under 108.00 before rebounding to above 108.30 (briefly).

EUR and GBP are very little changed for the day.

The inflow of new information during the session was focused, one, on China's Loan Prime Rate setting, 

  • both the 1- and 5-year remained unchanged, for the 12th consecutive month, at 3.85% and 4.65% respectively, as expected for both. 

And, secondly, on the Reserve Bank of Australia monetary policy April meeting minutes. 

  • The minutes indicate little change in the RBA view ahead, the Bank reiterated their twin targets (inflation and unemployment) are still yet to be achieved, are unlikely to be so prior to 2024, and policy will remain easy until then. There was an oblique hint that the RBA's Term Funding Facility would be wound back from June this year.

Bitcoin dropped a little further, its below US$54K as I post.

Forex news for Asia tradingfor Tuesday20April 2021

Regional equities:

  • Japan's Nikkei -1.8%, Topix -1.2%

  • China's Shanghai Composite -0.04%

  • Hong Kong's Hang Seng -0.2%

  • Australia's S&P/ASX 200 -0.32%

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