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ForexLive Asia FX news wrap: Crypto slides further

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Forex news for Asia trading on
Wednesday
19
May 2021

There
were further declines for cryptocurrencies during the session here
with Bitcoin on the slide to under $41K. Musk got the ball rolling on
the slide last week with his ‘not accepting BTC as payment’ tweet
and he has been more or less relentless since then (ForexLive has
been posting updates on his remarks).

As
I post:

  • BTC
    circa 40,448
  • DOGE 0.42418
  • ETH 3,089

Regional
equities have been on the sad side also following the drop on Wall
Street Tuesday. Europe is not looking good coming up.

In
the FX space we have seen a subdued session with NZD, CAD, AUD, GBP,
yen, CHF all down against the dollar (ranges are not large) with
EUR/USD more or less unchanged.

Data
of note included that for Australian wages in Q1 this year, a slight
beat and analysts have taken some encouragement from the slightly
better figures. Bear in mind though that there has been volatility
introduced into this data set as the economy emerges from, and
occasionally slips back into, lockdowns.

News
flow was reasonable light, summarised, as always, in the bullets
above.

Regional
equities:

  • Japan’s
    Nikkei -1.4%

  • China’s
    Shanghai Composite -0.38%

  • Hong
    Kong’s Hang Seng … closed for a holiday today

  • Australia’s
    S&P/ASX 200 -1.87%

BTC update:

Forex news for Asia trading onWednesday19May 2021



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