ForexLive Asia FX news wrap: FX rates mainly subdued

Forex news for Asia trading on
Friday
29
October 2021

There
were some minor gyrations in some of majors during the session and on
the whole the net change is close to not much at all.

EUR/USD,
GBP/USD, USD/CHF have barely moved at all.

USD/JPY
rose a little early to around 113.70 before givng back 30 points and
now coming back to little changed. The election in Japan this weekend
has kept it interesting. It appears the race is close with the
incumbents a little in front. Tune in Monday morning for the
post-election jitters in the yen!

The
Australian dollar tracked out a similar pattern, confined to a 20-odd
point range. The April 2024 Commonwealth Bond of focus gained a few
bps in yield but the real action was Thursday, not today. NZD/USD has
dipped a few points on the session. ANZ’s consumer confidence
survey for October dropped back under 100 and notably showed
inflation expectations going
“ballistic”.

Regional
equity markets were a little weaker
– lower in Japan and HK and treading water in China. US after hours
earnings announcement from Amazon and Apple were on the disappoitning
side, which kept the Nasdaq on the soft side.

News
crossed in the late US afternoon that troubled China property group
Evergrande had made a debt payment to once again stave off default
(see bullets above). 

Note – from China on Sunday we’ll be getting the official PMI readings for October. 

AUD/USD:

Forex news for Asia trading onFriday29October 2021

LEAVE A COMMENT

Your email address will not be published. Required fields are marked *