News

ForexLive Asia FX news wrap: Oil, iron ore down … aluminium, coal up

Forex news for Asia trading on
Monday 6 September 2021

 The USD showed patchy strength in Asia trade to open the week.
Trading was thinned out a little with the long weekend in the US and
Canada (markets in the US and CAD will be closed Monday).

USD/JPY
is trading just a little higher, unlike the Nikkei225 which has
jumped again after its upmove on Friday following the announcement PM
Suga is to step down. Hopes rest on whoever succeeds Suga will add
further stimulus to the economy.

Elsewhere,
AUD, NZD, GBP are all off just a little against the dollar but there
isn’t much in it. Oil is lower, taking some impetus pout of the CAD
(ditto on on not much in it).

Commodity
futures in China are showing bids, especially for aluminium, with an
attempted coup in Guinea (Africa) raising concerns on bauxite, and
hence aluminium, supply. I;m sure Australia can step in with more
bauxite if needed.

China
coal is higher also, a temporary halt to shipments of Mongolian coal
(for 2 weeks) is
being cited. Details on this are sparse.

Iron
ore has not joined in, its down on the session.

Regional
equities:

BTC had a good weekend:

Articles You May Like

Bitcoin technical analysis, bulls might be giving up soon
Upstart Earnings Preview: UPST stock rallies 14% in anticipation of Q2 beat
Euro Rises Slightly in Dull Markets, Dollar Mixed
BlueBenx fires employees, halts funds withdrawal citing $32M hack
Consumers expect inflation to slow down, a big win for the Fed

Leave a Reply

Your email address will not be published.