ForexLive Asia FX news wrap: AUD and NZD lose a little ground

Forex news for Asia trading on
Friday 5 November 2021

It
was a session of limited major FX rate movement awaiting the US
nonfarm payroll report, but some property sector concerns accelerated
in China. More to come on this.

The
Reserve Bank of Australia published its Statement on Monetary Policy
(SoMP). This is a four times a year report. There was not a lot in it
new, the Bank has conservative forecasts going forward which, it
says, will likely see conditions in place for a rate hike no sooner
than 2024. This is familiar ground. The Bank said a hike might be
sooner if conditions improve quicker (see bullets above for more
detail). The Australian dollar slid a little on the release, NZD fell
alongside. The falls extended as China’s markets kicked off. Bonds
for firms in the property sector in China continued their fall, many
to the lowest ever since they listed. Share trading in HK in Kaisa
group and related units were suspended.

EUR,
GBP, CAD all lost a little ground against the USD. USD/JPY fell a
little after early highs while USD/CHF, on the other hand has gained
points on the session.

AUD lower in a limited range:

Forex news for Asia trading onFriday 5 November 2021

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