ForexLive Asia FX news wrap: Sideways FX session

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Thursday 3 June 2021

Major FX has moved very little during the session here so far in Asia. News flow has been light and, obviously, of negligible impact. Data flow, on the other hand, has been plentiful (see bullets above) but also, and again obviously, non impactful. "Awaiting the nonfarm payroll data from the US" has been today's excuse and with Friday still to come in the timezone will likely be tomorrow's as well.

In summary the US dollar has inched a little higher during the session, with gains against AUD, NZD, yen, EUR. All tiny though.

Oil stretched its gains even higher, an increase in expected demand is cited as economies improve (a key benefit, alongside health, of vaccination rate increases) while supply discipline from OPEC+ remains in place, for now. The private survey of oil stocks shopwed a much larger than expected draw in headline inventory.

Gold and Bitcoin have given back a little.

The People's Bank of China weakened the onshore yuan a little at the reference rate setting again today. 

Still to come from Australia today is some sort of expected further fiscal support for COVID-19-locked down Melbourne. We'll see. 

Forex news for Asia trading onThursday3June 2021

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