ForexLive Asia FX news wrap: ETH, BTC both higher on Monday here

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Monday 3 May 2021

USD/JPY was a mover for major FX on a sedate session. As I post USD/JPY is circa 109.50 and on its high for the opening session of the week. There was no direct catalyst for the yen weakness that is readily discernible, just more of the same. Japanese markets were closed today and will remain closed for holidays on Tuesday and Wednesday (China the same holiday closures; Monday, Tuesday & Wednesday). USD/CHF moved in a similar direction but has only managed to approach its Friday US time high, not break above it.

AUD, NZD, GBP are all up against the dollar, slightly. CAD is down slightly while the euro is barely net changed on the day.

There was more activity in the crypto space. Ethereum broke above $30000 US for the first time, its strength has prompted a better bid for Bitcoin, with is above $58K as I post. There is more on ETH in the bullets above.

Gold added a few dollars.

On the data front it was a good day for manufacturing PMIs across the region. Australian manufacturing PMIs rose (see bullets above). Asian PMIs were mixed but most are solidaly in expansion:

  • Taiwan April Manufacturing PMI 62.4 vs 60.8 prior
  • Indonesia 54.6 vs 53.2
  • South Korea 54.6 vs 55.3
  • Malaysia 53.9 vs 49.9
  • Philippines 49 vs 52.2 

Forex news for Asia tradingfor Monday3 May 2021

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