Markets

ForexLive Asia FX news wrap: Cruz quits Mission Impossible

Forex news for Asia trading Wednesday 4 May 2016

USD/JPY got us off to a flying start today. It edged higher, carrying on its overnight strength, before bursting through 106.80 and rapidly toward 107.50! It did so at one of the thinnest liquidity times of the 24-cycle with stop-losses the main factor (although there were plenty asking if it was some sort of intervention - but I hear not).

The PBOC yuan setting today (the biggest devaluation of the CNY against the USD since August of last year) prompted another jump in USD/JPY, back above 107.10.

USD strength was prevalent pretty much across the board, with EUR, CHF, GBP, NZD and AUD all extending on their overnight lows

Gold, too, lost ground, back to 1280 and surrounds.

Data from the American Petroleum Institute early in the session saw oil gain some ground but its given it back.

News and data: NZ unemployment moved higher in Q1, but other details of the results were more positive. Comments from the Fed's Lockhart had little impact. Bernis Sanders on the Democrat side and Donald Trump on the Republican took wins in the Indiana primaries. Ted Cruz dropped out of the race.

Regional equities:

  • Nikkei - Japan closed today, will reopen on Friday
  • Shanghai -0.32%
  • HK -1.22%
  • ASX -1.07%

More: A July 2 election is all but confirmed in Australia. Trump will not win it ;-)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos