Technical Analysis

ForexLive Asia-Pacific FX news wrap: Awaiting key US data later today


Major
FX rates traded in subdued ranges during the timezone here today.
Contributing to lacklustre ranges were the wait for US data later on
Thursday, and holidays in mainland China and Australia today.

Hong
Kong markets reopened after the five-day long weekend for Lunar New
Year celebrations. HK equities jumped higher. As I post Hong Kong’s
Hang Seng index is up around 1.7% and the Hang Seng Tech Index +
circa 2.4%.

In
Japan the Nikkei 225 and Topix are more or less flat. We had the
‘Summary of Opinions’ published by the Bank of Japan from its
January monetary policy meeting. More on the Summary in two posts
above. Yen added a little strength. USD/JPY dropped under 129.20 at one stage and is just above as I update.

South
Korea’s Kospi is up around 0.27%, Kosdaq + circa 0.5%. Data from
South Korea earlier in the session showed Q4 2022 GDP shrinking, the
first contraction in over two years. SK’s government subsequently
pledged more support for the economy and the property sector
specifically.

Hong Kong Hang Seng:

Thursday, 26 January 2023

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