Forex news for Asia trading
15 February 2021
were a few moves across the FX space characterised, in summary, by a
weaker USD, GBP outperformance and NZD lagging. These were left in
the dust by the cryptos
though which all fell in
substantial moves (see bullets above) with Bitcoin dropping (very)
briefly under $46K before a partial rebound.
NZD/USD is higher on the session it trailed after a 3-day lockdown
was imposed on the country’s largest citiy over the weekend in
response to thre new cases of COVID-19 in the community.
Nikkei 225 average hits 30,000 for the first time since August 1990.
This is not just a curious historical event but has a degree of
significance since it came on a day when oil prices continued their
surge higher (WTI hit a high above $60 a barrel for the first time
since early January 2020). The reflation trade appears healthy,
further supported by Q4 GDP from the country handily beating the
central median estmate.
GDP from Singapore was also on the better side, despite falling 2.4%
y/y that was not as bad as the ‘advance’ reading that came in at
-3.8% and the median analyst estimate of -3.5%.
offshore Chinese yuan hit its
highest since June of 2018.