Forex news for Asia trading on Friday 3 September 2021
- Groundwork being laid for a vaccine passport economic recovery in Australia
- Australian PM Morrison confirms to get 4m doses of Pfizer vaccine from the UK
- Russian gas giant Gazprom has started to move away from the US dollar to China's yuan
- China Caixin/Markit PMI Services August: 46.7 (expected 52.6, prior 54.9)
- Australian Retail Trade in July -2.7% m/m and -3.1% y/y
- Goldman Sachs preview the RBA monetary policy meeting September 7 - Expect QE taper plan to remain
- USD/ CNY mid-point today at 6.4577 (vs. yesterday at 6.4594)
- Coronavirus - Australia's largest population state has hit 70% first dose vaccine target
- Coronavirus- New Zealand new case counts continues to fall
- Japanese politics - Nomura flags two risks for the yen (both positive)
- Japan - Jibun Bank/Markit August PMI Services 42.9 and Composite 45.5
- RBA monetary policy meeting Tuesday 7 September 2021 - preview
- Germany's DAX index to expand from 30 to 40 stocks - additions to be revealed today
- Australia - Markit Services and Composite PMI for August (final): 42.9 & 43.3 respectively
- Coronavirus - Australia's 2nd-largest state report another jump in cases
- Australia AiG Construction PMI for August: 38.4 (prior 48.7)
- ANZ say that October is still "game on" for RBNZ rate hike
- RBNZ is considering further measures to reduce risky mortgage lending
- Half of US small-business owners have unfilled job openings
- Renaissance hedge fund executives hit with $7bn back taxes bill
- UK media report PM Johnson to announce a tax hike next week
- Trade ideas thread - Friday 3 September 2021
- Reddit on its way to an IPO - meme stock that
- Another solid day in the US equity market
ADDED: Just as I posted the wrap, this:
Nikkei futures responded higher, USD/JPY up circa 15 points as I update. Yesterday a contender for the leadership, Kishida promised a broad swathe of fiscal support.
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Very tight ranges and largely sideways for most all major FX rates today here in Asia with eyes looking ahead to the jobs data due from the US Friday morning.
There was little in the way of market-moving news and data releases were lower-tier (services PMIs from Australia and Japan weaker). The People's Bank of China drained funds again today (and for the week as a whole) and set the reference rate for the onshore yuan at the strongest (for the CNY) since the end of June.
Regional equities:
Japan's Nikkei +0.33%
China's Shanghai Composite -0.19%
Hong Kong's Hang Seng -0.41%
Gold traded higher, BTC a little lower:
