- Foxconn's India iPhone manufacturing plant to open again January 12
- More on Chinese developer Shimao putting all its property projects up for sale
- UK manufacturers believe conditions, productivity to improve in 2022.
- Deloitte survey shows major British companies plan a surge in investment in 2022
- PBOC sets USD/ CNY reference rate for today at 6.3653 (vs. estimate at 6.3628)
- Australia's 2nd-most populous state mandates booster shots for workers in critical sectors
- China to host ministers from oil-rich Gulf states
- China reports 157 new mainland coronavirus cases (prior day 165)
- Australian building permits for November 2021: +3.6% m/m (vs. expected 3%)
- Coronavirus measures have been tightened in Taiwan and the alert extended
- Japanese media says the BOJ may increase its forecast for inflation
- Australia monthly inflation gauge for December 2021: 0.2% m/m (prior 0.3%
- BTC/USD tracking in the middle of its weekend range as Asia morning trade gets underway
- US Federal Reserve Chair Powell testimony on Tuesday - preview
- EUR/USD support and resistance levels (on the way to 1.10)
- Canada international truck driver mandate - proof of vaccination required
- Magnitude 5.5 earthquake - Greece
- ICYMI - Cluster of 20 omicron cases hits Tianjin, a gateway city to Beijing
- Trade ideas thread - Monday 10 January 2022
- Three Japan prefectures entered a quasi-state of emergency on Sunday
- Weekend oil news - Output at Kazakhstan's Tengiz oilfield is being gradually restored
- Monday morning open levels - indicative forex prices - 10 January 2022
- Cluster of 20 omicron cases hits Tianjin, a gateway city to Beijing
- ECB's Schnabel says the Bank may need to act on policy due to rising energy prices
- How the Kremlin views the sudden outbreak of violence in Kazakhstan
It was a bit of a placeholder session for APAC FX, sandwiched between Friday’s NFP and the yet to come testimony from Federal Reserve System Chair Powell on Tuesday (10 January 2022 US time (see bullets above)). A holiday in Japan today thinned out both liquidity and interest too.
The USD opened a few points stronger across the major FX rate board and yen, CHF and EUR have all lost a little more ground. AUD/USD has recovered its early gap and added on a few points, without much of a readily evident smoking gun. Australia’s PM Morrison said the country must ‘push through’ the current outbreak. Meanwhile the second-most populous state tightened restrictions a little, banning indoor dancefloors (NSW did the same a few days prior). The gains for AUD are small.
News and data flow was very light. The numbers are showing that outbreaks of COVID-19 in China are on the rise, with worries that associated restrictions in the country, still pursuing ‘zero’ policies and now just weeks out from the opening of the Beijing Olympics, cannot be far behind. If so, the impacts on economic growth and for global supply chains will be negative. Also from China today, a leading property developer is offloading properties at an accelerated pace – asset sales needed to meet debt repayment obligations.
USD/JPY rose on the Japanese holiday: