ForexLive Asia FX news wrap: USD lost further ground in Asia

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Thursday 29 April 2021

The market response to the dovish messages from the Federal Open Market Committee and Federal Reserve Chair Powell carried into the Asian timezone today with a lower US dollar across the board.

AUD, NZD, GBP, EUR, CAD, yen all added to their US-time highs (gold also), although as I post there has been some pullback.

None of the news nor data flow to cross during the session had much of an impact, today was all about the ongoing response to the Fed. We did get US President Biden speaking, his first address to a joint session of Congress, where he did not depart from policy points he has already outlined. Perhaps of more interest is the speech in response (from US Republican Senator Scott) which was, of course, full of waffle, but notably did not (as I post) push back on Biden's plans to raise taxes for the wealthy and on corporations. Perhaps this will be more of a behind-the-scenes thing but he gave no inkling of opposition.

BTC jumped above u=US$56K in late US time but fell back just as rapidly and has sat lower here during the session circa $55K and under.

News you may have missed on US stocks, Apple is adding another $90bn in buybacks. Google $50bn.

Regional equities:

  • Japan's Nikkei %, Topix % Japan was closed for a holiday today

  • China's Shanghai Composite +0.15%

  • Hong Kong's Hang Seng +0.85%

  • Australia's S&P/ASX 200 +0.36%

BTC gyration:

Forex news for Asia tradingfor Thursday29April 2021
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