Asia FX news roundup: NZD slightly lower, JPY slightly higher
Regional equities rose again today, with China and Hong Kong following Wall Street’s lead on Wednesday. Japan’s markets were closed for the holiday, and they will be closed again tomorrow. On Globex, overnight equity index futures in the United States gained but have since remained sideways. The oil mostly moved sideways.
Small range trading characterized the FX market. USD/JPY has dipped from highs near 110.30 to a low at 110.10, and is currently just above this level as I write. The EUR/USD barely managed a 10-point range just under 1.1800 ahead of the ECB policy meeting. NZD/USD is down almost 20 points from early highs at 0.6970, while AUD/USD is little changed. There has been little movement in USD/CAD as well.
The flow of news and data was weak, but it should build up with the European Central Bank statement and Lagarde’s news conference on Thursday.
The New Zealand dollar/Japanese yen has depreciated somewhat.