ForexLive Asia FX news wrap: Crypto the focus again

Forex news for Asia trading on
Monday
17
May 2021

CRYPTO news/headlines:

Other:

There
was another sharp decline for Bitcoin with further tweeting from Elon
Musk and the propsect of tighter regulation from China weighing (see
bullets above). It wasn;t opnly BTC lower, other coins lost ground
also.

Across
major forex it was a mixed bag. EUR/JPY popped to above 132.90, its
highest since 2018, before dipping back under. USD/JPY tested 109.50
before similarly
dipping
back just a little. EUR, AUD, NZD and CAD have all net lost ground
against the USD on the session here. Gold
hit its highest since early February, trading above $1852.

Taiwan’s
stock market fell heavily again early, the country reported a surge
in cases over the weekend and has responded with tighter
restrictions. Singapore, too, is tightening its coronavirus response.
Taiwan’s Premier has told relevant government departments to
prepare to stabilise equity and FX markets in the country.

From
China today we had April ‘activity data’ (see bullets above) with
a moderation of growth in industrial production and retail sales on
the month. China house price growth hit an 8 month high.

Regional
equities:

  • Japan’s
    Nikkei -1.2%, Topix -0.4%

  • China’s
    Shanghai Composite +1%

  • Hong
    Kong’s Hang Seng +0.5%

  • Australia’s
    S&P/ASX 200 +0.3%

BTC/USD had a soft weekend:
Forex news for Asia trading onMonday17May 2021CRYPTO news/headlines:

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