Forex news for Asia trading on Tuesday 29 June 2021
- RBNZ statement is published now - policy to normalise eventually (over the medium term)
- EUR/USD forecast lowered on worries the delta variant of COVID-19 could spread through Europe
- PBOC sets USD/ CNY central rate at 6.4567 (vs. yesterday at 6.4578)
- New Zealand has lowered its COVID-19 alert level in capital city of Wellington
- Short coronavirus lockdowns may be a positive for consumer spending
- ICYMI - The Swiss National Bank still insist FX CHF intervention is needed
- Japan data - April retail sales -0.4% m/m (prior -4.5%)
- Australia makes COVID-19 vaccination available to under 40s (conditions apply!)
- Japan May unemployment rate 3% vs expected of 2.9%
- Australia weekly ANZ-Roy Morgan Consumer Confidence: 112.2 (vs. prior 112.4)
- Ahead of the OPEC+ meeting on July 1 - renewed lockdowns to weigh on demand
- Binance closes its operations in Ontario (Canada)
- More on China ordering a fix on over 280K Tesla cars
- US government antitrust lawsuits against Facebook have been thrown out by a Federal Judge
- Oil - OPEC+ July 1 meeting is expected to result in an increase to output
- Bank of America will boost its quarterly dividend by 17%
- Trade ideas thread - Tuesday 29 June 2021
- JPMorgan will boost its quarterly dividend to $1/share and will continue buyback
- Cathie Wood’s ARK Invest Files To Create A Bitcoin ETF
- ICYMI - PBOC says lending rates will fall further
- S&P and NASDAQ closing at record highs and near highs for the day
It was a subdued range session for major FX rates and even Bitcoin with a light news and data flow only. Nevertheless there were a few items of interest.
Late in the US day a slew of banks announced increased dividends and also some on buy backs, There was also news that the US government suits against Facebook had been rejected by the judge. Both of these should be positive inputs for stocks (although both are not overly surprising).
On BTC, Cathie Wood's ARK Invest filed to create a BTC ETF.
On the data front Japan's Retail Sales report for April came in beating expectations, with sales up for a 3rd consecutive month.
Major FX had only minor movement through the session. The yen strengthened a little, draggin yen crosses lower. The USD, too, is a touch to the better. EUR, AUD, GBP, NZD, CAD, CHF all down against the USD. All ranges have been very small.