Forex news for Asia trading for Wednesday 7 April 2021
- Japan chief cabinet secretary Kato comments on CVC proposal on Toshiba
- Preview of FOMC minutes due Wednesday 07 April 2021
- South Korea to temporarily lift import duties on corn to stabilize prices
- PBOC says China should set up a CNY futures market
- PBOC sets USD/ CNY central rate at 6.5384 (vs. yesterday at 6.5527)
- New Zealand - ANZ Commodity Price index for March: +6.1% m/m (prior +3.3%)
- Re-upping the April seasonals video (Morgan Stanley add their April outlook)
- Australian PM Morrison wants to talk with the EU about getting more vaccine doses
- Bank of Japan Governor Kuroda will speak in the Diet Wednesday from 0400GMT
- Japan PM Suga says a snap election before the end of September is "a possibility"
- Australia weekly consumer confidence: 107.7 (prior 112.3)
- The UK will start rolling out the Moderna COVID-19 vaccine today (Wednesday)
- Australia - (final) Markit PMIs for March: Services 55.5 (prior 53.4) and Composite 55.5 (prior 53.7)
- 1 in 3 Covid-19 patients are diagnosed with a psychiatric or neurological illness in the next 6 months
- Australia AiG Construction PMI for March: 61.8 (prior 57.4)
- 109.40 the level to watch for further USD/JPY weakness
- Morgan Stanley sold US$5 bn in Archegos’ stocks the night before massive sale
- Trade ideas thread - Wednesday 07 April 2021
- US President Biden says he will not be telling the Federal Reserve what to do
- Private survey crude oil storage data shows a headline draw larger than consensus forecast
- Amazon's Bezos supports Biden's infrastructure/tax plan
- Biden says there is good, and bad, news on US coronavirus
There has been little net change for major pairs during the Asian session so far although there have been some minor gyrations. USD/JPY dropped from highs just shy of 109.90 to under 109.60 before tracking back to be barely net changed as I post. Yen crosses declined with the earlier dip as most currencies gained a few points against the big dollar before they too retraced; AUD, NZD, GBP, CAD are all a little softer now against the USD as I update, but the net changes are all marginal.
Data releases were of lower-tier importance and there was little news of impact either. A potential takeover bid for Toshiba (emphasis on potential at this stage) was about as exciting as it got.
Gold lost a few dollars after its better session on Tuesday.
Regional equities:
Japan's Nikkei barely changed, Topix +0.3%
China's Shanghai Composite -0.7%
Hong Kong's Hang Seng -0.88%
Australia's S&P/ASX 200 +0.17%
