Forex news for Asia trading on
Bitcoin added to its bounce from
its brief dip under US$29K, ti a high over $34K during the timezone
here today. Narratives for the jump are mixed and not particularly
convincing but there is no denying the bounce off the lows has been
impressive and is suggestive of an impulsive move.
USD, meanwhile, also found some legs as Asia trade got underway with
little in the way of news not, apart from some preliminary PMIs.
Data. EUR/USD, AUD/USD,
NZD/USD and cable are all off on the session, while USD/CAD, USD/JPY
and USD/CHF are all higher. The USD had declined on Tuesday US time
leading into the session here and the moves we have had here look
like a shot of retracement. Regional equities have steadied on
Wednesday after big swings on Monday and Tuesday.
moved higher, traders encouraged by the large reported (private
survey) headline inventory draw. Gold has managed to hold more or
less steady to up slightly also.
and New Zealand imposed tighter coronavirus related restrictions in
Sydney and Wellington. Cases are accelerating in Sydney while fears
in Wellington centre on a visit from an infectious Australian. On the
data front Australia recorded its largest ever trade surplus after a
huge 11% m/m jump in import (preliminary data for May). Australian exports to China surged, underscoring the risks Australia faces in its diplomatic strains with the country. But, so far so good ….