ForexLive Asia FX news wrap: USD round trip while the we await Powell

Forex news for Asia trading on
August 2021 

During US time we had hawkish
comments out of numerous Fed officials ahead of Chair Powell’s
speech scheduled for Friday morning, US time:

In morning trade Asia
took the USD up a little, with drops for EUR, AUD, NZD, GBP and CAD.
Those, admittedly small, moves have backtracked
and all those currencies are now, as I post, more or less unchanged
on the session.

flow has been light and data flow not much more. Australian retail
sales in July fell more than expected (lockdown impacts cited).
Chinese industrial profit growth slowed just a little in July from

on China, the People’s
Bank of China continued to add liquidity to the banking system again
today with the third
consecutive daily net injection of 40bn yuan via
open market operations. The
total is
a net 120 bn yuan
added for the week. This is the largest weekly injection since start
of February.


EUR/USD Asia round trip:


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