ForexLive Asia FX news wrap: Australian capex plans improve

Forex news for Asia trading on
Thursday
25
November 2021

There was not a lot in the way
of fresh developments for major FX in Asia morning trade. The FOMC
minutes were overshadowed somewhat by the switch to ‘faster taper’
talk from San Francisco Federal Reserve President Daly on Wednesday
and even that was
overshadowed by the looming US holiday on Thursday that’ll shut
markets in the US.

In
China, property developer Kaisa said it may default on a $400m
bond maturing December 7 if holders don’t agree to exchange the notes
for new ones due 18 months later. Rock,
meet hard place, for bond holders.

Australian
Q3 capex data came in as expected, down on the quarter but with
estimates boosted for the period ahead providing optimism. South
Korea’s central bank raised its benchmark rate by 25bps , as it was
expected to do. Governor Lee warned of another hike coming in Q1 of
2022.

Major
forex rates saw a nearly across the board small weakness for the USD
with higher for EUR, GBP, AUD, NZD and CAD. USD/JPY and USD/CHF are
barely changed though. 

Bitcoin found a bid heading into the US holiday – there’ll be plenty to trade it in the days ahead:

Forex news for Asia trading onThursday25November 2021

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