Forex news for trading in Asia on Thursday, December 2, 2021
Every day so far this week has seen losses for the USD and an offer of ‘risk’ emerge in morning trading in Asia. Today is no different. US stock index futures rose, ES is up more than half a percent as I issue admittedly small potatoes after US stocks received at the local treasury close on Wednesday.
On FX, the dollar is lower with the EUR, the GBP in particular rising like the AUD, CAD and NZD to a lesser extent. The USD / JPY rose slightly which of course gave a favorable wind to the yen crosses here. The USD / CHF, on the other hand, lost (a little) ground.
There hasn’t been any game-changing news, but there have been slight easing of Omicron-related flight restrictions from France and Japan (see bullet points above). An internal border in Australia has tightened contact.
From the Federal Reserve, we heard from Cleveland President Loretta Mester, who was quick to endorse a potential faster cut and even said two hikes could be expected in the new year.
Not just in Soweto: