News

Asia FX news roundup: The USD rises in Asia ahead of the NFP

  • 06 August, 2021
  • 2:26 pm EEST

Market news

Forex news for Asia trading on Friday 6 August 2021 :

Across the major currency rate boards, the US dollar gained throughout the session here. Normally, Asia is a little calm ahead of a nonfarm payroll data release, but the dollar has been slowly creeping up today.

The Australian currency suffered the worst losses, despite Reserve Bank of Australia Governor Lowe’s relatively positive statement before a parliamentary committee, which mentioned AUD weakness . The NZD, EUR, GBP, CAD, JPY, and CHF all fell in value.

The region’s equity markets were a tad choppy. China and Hong Kong fell, with Chinese officials’ crackdown on technology continuing to reverberate. As of this writing, the Shanghai Composite and Hang Seng are down about 0.4 % each. The Nikkei 225 in Japan is up 0.5 % .

The US Senate’s infrastructure bill amendment process was halted late Thursday with no vote due to the data. According to majority leader Schumer, the debate will continue at noon on Saturday.

 

Forexlive Image View

 

 

Goldman Sachs NFP preview :

  • Labor supply constraints eased further due to the wind-down of federal unemployment top-ups in some states and the addition of over 2 million youth job seekers in June and July.
  • Strong household employment gain offset by a sizable rise in the participation rate.
  • Little impact on dining activity in response to the Delta variant.

 

Reliable Trading since 2012