ForexLive Asia FX news wrap: Australian capex plans improve

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Thursday 25 November 2021

There was not a lot in the way of fresh developments for major FX in Asia morning trade. The FOMC minutes were overshadowed somewhat by the switch to 'faster taper' talk from San Francisco Federal Reserve President Daly on Wednesday and even that was overshadowed by the looming US holiday on Thursday that'll shut markets in the US.

In China, property developer Kaisa said it may default on a $400m bond maturing December 7 if holders don't agree to exchange the notes for new ones due 18 months later. Rock, meet hard place, for bond holders.

Australian Q3 capex data came in as expected, down on the quarter but with estimates boosted for the period ahead providing optimism. South Korea's central bank raised its benchmark rate by 25bps , as it was expected to do. Governor Lee warned of another hike coming in Q1 of 2022.

Major forex rates saw a nearly across the board small weakness for the USD with higher for EUR, GBP, AUD, NZD and CAD. USD/JPY and USD/CHF are barely changed though. 

Bitcoin found a bid heading into the US holiday - there'll be plenty to trade it in the days ahead:

Forex news for Asia trading onThursday25November 2021

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