Forex news for Asia trading on
Thursday
1 July 2021
Data
flow ramped up on the first day of the new month with:
- a
round of PMIs across Asia with Australia, China, Japan, South Korea
manufacturing PMIs all registering expansion, - The
Bank of Japan quarterly Tankan survey report showed much improved
sentiment amongst Japanese business, - Australian
exports surged, and imports were higher also, in May (from April), - Australian
job vacancies were up more than 23% in the 3 months to May, and +57%
from February of 2019 (that is, pre-Covid) indicating yet again that
tightness in the labour market will continue (the RBA will be
watching if this translates into wage pressures – the Bank meet on
July 6).
On
the news flow front it was quiet, with little to impact FX rates from
the session. Central bankers and their comments/opinions were absent
also.
As
noted in the headline to this wrap major forex ranges were small
again on the session with little of note to report. Gold has rallied
a few dollars, up higher from its move up on Wednesday US time. Oil
has added on a little gain also. Bitcoin has been quiet (for it),
down a few hundred USD only.
Gold hourly candles, its first rally for the week in the past 24 hours:
This article was originally published by Forexlive.com. Read the original article here.