Forex news for Asia trading
3 May 2021
was a mover for major FX on
a sedate session. As I post USD/JPY is circa 109.50 and on its high
for the opening session of the week. There
was no direct catalyst for the yen weakness that is readily
discernible, just more of the same. Japanese markets were closed
today and will remain closed for holidays on Tuesday and Wednesday (China the same holiday closures; Monday, Tuesday & Wednesday).
USD/CHF moved in a similar direction but has only managed to approach
its Friday US time high, not break above it.
NZD, GBP are all up against the dollar, slightly. CAD is down
slightly while the euro is barely net changed on the day.
was more activity in the crypto space. Ethereum broke above $30000 US
for the first time, its strength has prompted a better bid for
Bitcoin, with is above $58K as I post. There is more on ETH in the
added a few dollars.
the data front it was a good day for manufacturing PMIs across the
region. Australian manufacturing PMIs rose (see bullets above). Asian
PMIs were mixed but most are solidaly in expansion:
April Manufacturing PMI 62.4 vs 60.8 prior
54.6 vs 53.2
Korea 54.6 vs 55.3
53.9 vs 49.9
49 vs 52.2