Mainland China remained on holiday today while Hong Kong and Singapore markets reopened after their holiday Monday break. China will be out for much
Mainland
China remained on holiday today while Hong Kong and Singapore markets
reopened after their holiday Monday break. China will be out for much
of the week. Japan will be out from Wednesday for the rest of this
week.
Major
FX markets traded in subdued ranges for the session here. Yen crosses
remained firm, the BOJ decision to stay very accommodative continued
to impact.
Locally
we await the Reserve Bank of Australia policy decision. The consensus
is for no change to the current, 3.6%, level of the cash rate, though
this is certainly not unanimous. Bloomberg’s survey of analysts
showed around two thirds were expecting on hold. Globally we await
the Federal Open Market Committee (FOMC) policy decision where a
+25bp Fed Funds rate hike is the consensus expected.
News
and data flow here in the region was very light indeed. Late
in the US day brought US Treasury Secretary Yellen saying she expects
the drop dead date for the US debt limit to be June 1.
ps.
UK and European markets reopen today after much of the region was
closed for the May Day holiday on Monday.
EUR/JPY hourly:
www.forexlive.com