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ForexLive Asia FX news wrap: Awaiting the FOMC

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Forex news for Asia trading on
Wednesday
16
June 2021

There
were some minor moves across major forex rates during the Asian
session here today with some position-squaring (and opening!) continuing heading
into Wednesday US Federal Reserve Federal Open Market Committee
decision (1800GMT) and Chair Powell’s press conference following (1830 GMT).

EUR/USD
has ticked a few points lower, and the USD also traded a little higher
against the yen and CHF. Cable is barely changed, as is USD/CAD. Both
the Australian and New Zealand dollars added a few points against the
US dollar. Please
note ranges for all were very small indeed, if you are inclined to
dismiss the moves I have described as irrelevant it would be
difficult to argue with you.

There
was no fresh news of impact, data releases were from NZ, Australia
and Japan (see bullets above). There is still data to come from China
today, due at 0700 GMT.

Oil
continued to tick higher, helped along somewhat by a large (largest
in 5 months) headline draw (but do note the ‘product’ builds –
see bullets above).

Gold
dribbled a little lower, towards its US afternoon lows but not quite
getting there. BTC/USD straddled $40K.

gold chart 16 June 2021 fomc



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