Asia Forex news roundup: AUD and NZD lose some ground

  • 05 November, 2021
  • 5:15 pm EET

Asia Forex news roundup: AUD and NZD lose some ground

On Friday, November 5, 2021, forex news for Asia trading will be :

The session saw limited major FX rate movement as investors awaited the US nonfarm payroll report, while some property sector concerns intensified in China. There will be more on this later.

The Reserve Bank of Australia issued its Monetary Policy Statement (SoMP). This report is issued four times a year. There wasn’t much new in it; the Bank has conservative estimates for the future, claiming that conditions will be in place for a rate hike no sooner than 2024. This is old territory. The Bank of England stated that a rate hike could happen sooner if conditions improve faster.

The Australian dollar sank slightly as a result of the news, and the New Zealand currency followed suit. The losses widened after China’s markets opened. Bonds issued by Chinese property firms have continued to decline, with many reaching new lows. Share trading in the Kaisa group and linked units in Hong Kong has been halted.

The EUR, GBP, and CAD all lost ground against the USD. USD/JPY dipped somewhat following early highs, whilst USD/CHF gained points on the session.

The Australian dollar is falling in a narrow range.

Australian services PMI for October from theĀ Australian Industry GroupĀ (AiG)


Markets News :

  • USD leads, AUD and GBP lag on the day
  • European equities higher; S&P 500 futures up 0.2%
  • US 10-year yields up 0.4 bps to 1.528%
  • Gold up 0.1% to $1,793.66
  • WTI up 0.8% to $79.52
  • Bitcoin flat at $61,134

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