Forex news for Asia trading for Thursday 29 April 2021
- Germany’s financial regulator says cryptocurrency exchange Binance may have violated securities rules
- China expects record high traffic (passengers) flow during its upcoming May long holiday
- Hong Kong central bank says the HK dollar remains steady (comments in response to the FOMC)
- Data from the US tonight will show strong inflation - but the Fed will shrug it off
- USD continues to lose ground in Asia after Wednesday dovey FOMC and Powell ... Gold doing well
- Australian Q1 export prices surged 11.2% q/q
- PBOC sets USD/ CNY reference rate for today at 6.4715 (vs. yesterday at 6.4853)
- Biden speaking to a joint session of Congress, says: We are in a competition with China
- New Zealand (April) Business Confidence -2.0 (prelim -8.4) and Activity Outlook 22.2 (prelim 16.4)
- Moody's says to expect uneven recovery among Chinese SOEs across sectors, regions
- Forecaster flags a possible fall to 1.2065 for USD/CAD
- Fed Chair Powell said China's approach to digital currency would not work in US
- US to deliver $100m in supplies to India in coming days for coronavirus relief
- Further responses to the Federal Reserve FOMC
- NZ data - March trade balance shows both exports and imports much higher m/m
- Responses to the Federal Reserve FOMC continue
- Video: Canadian dollar hits 3-year high. What's next for it and what's next for USD after the Fed
- Australia to investigate two post vaccination deaths
- Semiconductor chip shortage - Taiwan's TSMC plans to invest US$35.5 bln
- Snippets of Biden's speech hitting the news: "America is on the move again"
- Trade ideas thread - Thursday 29 April 2021
- Verizon is exploring a sale of AOL and Yahoo
- Amazon to boost pay for over 500,000 staff beginning in the middle of May
- Apple reports EPS $1.40 versus estimate $0.99. Revenues $89.58 billion versus 77.30 billion estimate
- The US is considering a major rollback in Iran sanctions to revive nuke deal
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 todayChina's Shanghai Composite +0.15%
Hong Kong's Hang Seng +0.85%
Australia's S&P/ASX 200 +0.36%
BTC gyration:
