ForexLive Asia-Pacific FX news wrap: Digesting the FOMC & a hawkish Powell
- Forex news for Asian trading on Thursday, 3 November 2022
Thursday, 03/11/2022 | 03:27 GMT-0
03/11/2022 | 03:27 GMT-0
Major
FX ranges were more limited than they were during a volatile
post-FOMC US session.
Japan was out for a public holiday here today,
which meant no cash trade in USTs.
The USD net gained after Federal
Reserve Chair Powell’s press conference. There was minor follow
through to this early in the session here and then a minor retrace.
As mentioned, ranges were not large. USD/JPY is a bit of an
exception. It tested towards 148.00 and dropped around 80 points.
Regional
equities slid.
Data
points of note were a rebound for Australian exports (September month
data) and further contraction for the Chinese services PMI (Caixin).
Speaking
of China, coronavirus cases mounted again. Canada’s government
ordered three Chinese firms to divest from small lithium miners.
In
geopolitical news North Korea launched another three missiles
eastward again today.
