Current news is English only but we will be adding multilingual news - check back soon.
ForexLive Asia-Pacific FX news wrap: USD lost ground
Session wrap
Wrap Asia
- Chinese state media talking up the solid rise for April industrial profits
- China April Industrial Profits +3% y/y (prior +2.6%)
- Goldman Sachs sees lower oil prices in 2025-2026
- Japanfinmin Kato: Important for currencies to move in stable manner reflecting fundamental
- PBOC sets USD/ CNY central rate at 7.1876 (vs. estimate at 7.1842)
- Japan fin min Kato: Market sees rising rates as reflecting concerns about state finances
- BIS' Carstens: Essential for fiscal authorities to curb relentless rise in public debt
- JPY is trading stronger on the back of solid inflation data, BoJ Gov Ueda comments
- PBOC is expected to set the USD/CNY reference rate at 7.1842 – Reuters estimate
- Bank of Japan Governor Ueda - close to inflation target but not quite there
- Japan Services Producer Price Index (April 2025) +3.1% (expected +3.0%, prior +3.1%)
- UK launches £3 billion plan to train locals, cut foreign worker reliance
- UK BRC Shop Price Index for May 2025: -0.1% y/y (expected –0.1%, prior –0.1%)
- ICYMI: OPEC+ meeting moved to May 31, a day earlier than previously planned
- More preview remarks on the expected RBNZ 25bp rate cut this week
- Central bank conference kicks off today, its just like Jackson Hole but in Tokyo!
- Reserve Bank of New Zealand expected to cut its cash rate by 25bp this week - preview
- ICYMI: South Africa plans to buy around USD1bn a year of liquefied natural gas from the US
- Forexlive Americas FX news wrap 26 May: Trump tariff delay lifts risk sentiment
- ICYMI: PBoC 'asks' major banks to increase yuan share in crossborder trade to 40%, from 25
- Trade ideas thread - Tuesday, 27 May, insightful charts, technical analysis, ideas
The early move here in Asia was for the US dollar to fall. Its losses were across the majors board, with reasons cited including
- Trump’s tax plan
- surging US government indebtedness
- Moody’s downgrade
None of these is new information now.
The euro bounced from its drip lower on Monday, Europe time, with tariff relief cited, along with Lagarde’s remarks pointing to growing sentiment it could compete with the dollar in global reserves.
USD/JPY was a notable loser, falling on
- solid wholesale services inflation
- but more so on a speech from Bank of Japan Governor Ueda, that didn’t appear all that hawkish. Ueda did reiterate that the BOJ will continue to raise rates, depending on economic and price conditions.
China’s industrial profits rose in April for a second straight month, and at their fastest since December.
Source: Forex Live
Copy Link
Share on Facebook
Share on X
Share by Email
