Forex news for Asia trading on Monday 6 September 2021

The USD showed patchy strength in Asia trade to open the week. Trading was thinned out a little with the long weekend in the US and Canada approaching (markets in the US and CAD will be closed Monday).

USD/JPY is trading just a little higher, unlike the Nikkei225 which has jumped again after its upmove on Friday following the announcement PM Suga is to step down. Hopes rest on whoever succeeds Suga will add a further stimulus to the economy.

Elsewhere, AUD, NZD, GBP are all off just a little against the dollar but there isn't much in it. Oil is lower, taking some impetus out of the CAD (ditto on not much in it).

Commodity futures in China are showing bids, especially for aluminium, with an attempted coup in Guinea (Africa) raising concerns on bauxite, and hence aluminium, supply. I'm sure Australia can step in with more bauxite if needed. China coal is higher also, a temporary halt to shipments of Mongolian coal (for 2 weeks) is being cited. Details on this are sparse. Iron ore has not joined in, its down on the session.

Regional equities:

  • Japan's Nikkei +2%

  • China's Shanghai Composite +0.6%

  • Hong Kong's Hang Seng +0.2%

BTC had a good weekend:

Forex news for Asia trading onMonday 6 September 2021