ForexLive Asia FX news wrap: Subdued ranges for major FX again in Asia

Forex news for Asia trading on
1 July 2021

flow ramped up on the first day of the new month with:

  • a
    round of PMIs across Asia with Australia, China, Japan, South Korea
    manufacturing PMIs all registering expansion,
  • The
    Bank of Japan quarterly Tankan survey report showed much improved
    sentiment amongst Japanese business,
  • Australian
    exports surged, and imports were higher also, in May (from April),
  • Australian
    job vacancies were up more than 23% in the 3 months to May, and +57%
    from February of 2019 (that is, pre-Covid) indicating yet again that
    tightness in the labour market will continue (the RBA will be
    watching if this translates into wage pressures – the Bank meet on
    July 6).

the news flow front it was quiet, with little to impact FX rates from
the session. Central bankers and their comments/opinions were absent

noted in the headline to this wrap major forex ranges were small
again on the session with little of note to report. Gold has rallied
a few dollars, up higher from its move up on Wednesday US time. Oil
has added on a little gain also. Bitcoin has been quiet (for it),
down a few hundred USD only. 

Gold hourly candles, its first rally for the week in the past 24 hours:

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