AsiaPacific

Asian trading forex news for Monday, July 24, 2023 The preliminary reading of the PMI from Japan for July showed at 52.1, unchanged from the previous month, as business activity recorded an expansion of 7y…

never Japan -1.23%. Japan posted its first trade surplus in nearly two years in June. China -0.51%. The People's Bank of China kept the key interest rates for the one-year and five-year loan unchanged at 3.55% and 4.2%, respectively.…

never Japan +0.23%. China +0.38%. Hong Kong +1.37%. Australia +1.21%. Australian Business Confidence for June rose to 0, from the previous -3. The Australian Weekly Consumer Confidence Poll fell again to 73.3 (previously 74.1).…

The RBA's monetary policy decision and statement is due at 2.30pm Sydney time, which is 0430 GMT and 0030 EST. Analysts are almost evenly divided on whether a +25bps rate hike or a pending decision. The market rate is well below the…

USD/JPY traded briefly above 145.00 in Asian morning trade. USD/JPY rally prompted a statement from Japanese Finance Minister Suzuki. Such a statement has become a regular occurrence as the yen has weakened in the past months, usually…

The Fed speakers on Friday are Bullard, Bostick, MesterEuropean Central Bank President Lagarde speaks on Friday. Panetta (on crypto) and De Cos tooUSD/CNH is above 7.21, and the US dollar is almost higher across the majorsThe ECB's…

Asia followed the "suspended" FOMC decision, with a hard point plot, by buying US dollars during the session. The Euro, the British Pound, the New Zealand Dollar, the NZD (and the Yuan, but I'll get to that in a moment) have all fallen…

The Asia-Pacific markets showed a positive trend, with gains noted in South Korea, Japan, mainland China and Australia. The Hong Kong stock market of indices such as the Hang Seng Index (INDEXHANGSENG: HSI) has had a significant…

The RBNZ raised the official interest rate (OCR) by 25 basis points to 5.5% today in a split decision (5-2) and signaled that the picnic cycle is over. The bank noted that the policy will remain restricted for some time to come and…

The Australian dollar is the driver of the session. It fell sharply after the release of disappointing labor market data for the month of April. Jobs shrank in the economy while the unemployment rate jumped higher. I should add that…