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Forex news for Asia trading
for Tuesday
20
April 2021
The
Australian, Canadian and New Zealand dollars all
traded higher against the US dollar during the session, easily
outperforming. More murmurings of commodity price gains did the
rounds assisting these currencies higher.
USD/JPY
had an early move down, it took
out a few stop loss sells
down as low as just under 108.00 before rebounding to above 108.30
(briefly).
EUR
and GBP are very little changed for the day.
The
inflow of new information during the session was focused, one, on
China’s Loan Prime Rate setting,
- both the 1- and 5-year remained
unchanged, for the 12th
consecutive month, at 3.85% and 4.65% respectively, as expected for
both.
And, secondly, on the Reserve Bank of Australia monetary policy
April meeting minutes.
- The
minutes indicate little change in the RBA view ahead, the Bank
reiterated their twin targets (inflation and unemployment) are still
yet to be achieved, are unlikely to be so prior to 2024, and policy
will remain easy until then. There was an oblique
hint that the RBA’s Term Funding Facility
would be wound
back from June this year.
Bitcoin
dropped a little further, its below US$54K as I post.
Regional
equities:
-
Japan’s
Nikkei -1.8%,
Topix -1.2% -
China’s
Shanghai Composite -0.04% -
Hong
Kong’s Hang Seng -0.2% -
Australia’s
S&P/ASX 200 -0.32%