ForexLive Asia FX news wrap: Yen weaker

Forex news for Asia trading on Thursday 14 October 2021 USD/JPY rose from lows just under 113.25 to highs above 113.50 during the session here in Asia, Not a large range but notable amidst the narrower ranges elsewhere across the board. News flow was light but we did have plenty of data flow, most of the focus on the Australian jobs market report for September and Chinese CPI & PPI, also for September. The Australian labour market report showed a larger than expected number of job losses in the month and a higher unemployment rate. Participation fell sharply. Hours worked rose. In short a mixed bag but objectively a worse rather than better report. It was largely shrugged off as a continuing impact of lockdowns covering nearly half of Australia's population. Further, both of the states impacted are on their way towards reopening, NSW having begun more quickly than Victoria's. Thus, expectations are of a Q4 econimc bounce back and better data flow ahead. AUD/USD is down about 15 points from its pre-data session high. RBA Deputy Governor Debelle spoke earlier in the session but with not much impact (the views of the RBA are well known by now, tapering ahead but no rate rise forecast until 2024). From China the September CPI came in under expectations while the PPI surged to its highest in 26 years and above the median estimate. Rising commodity prices were largely blamed, rising prices of coal particularly noted. The Monetary Authority of Singapore (Singapore's central bank) tightened monetary policy a little (see bullets above) in a surprise decision (the overwhelming consensus was for on hold) In Turkey, President Erdogan fired another three policy setters at the country's central bank. Th Turkish lira fell and has since stabilised as we await local trade response. BTC is a little higher on the session.  The Singapore dollar higher on the MAS decision:

ForexLive Asia FX news wrap: Yen weaker

Forex news for Asia trading on Thursday 14 October 2021

USD/JPY rose from lows just under 113.25 to highs above 113.50 during the session here in Asia, Not a large range but notable amidst the narrower ranges elsewhere across the board.

News flow was light but we did have plenty of data flow, most of the focus on the Australian jobs market report for September and Chinese CPI & PPI, also for September.

The Australian labour market report showed a larger than expected number of job losses in the month and a higher unemployment rate. Participation fell sharply. Hours worked rose. In short a mixed bag but objectively a worse rather than better report. It was largely shrugged off as a continuing impact of lockdowns covering nearly half of Australia's population. Further, both of the states impacted are on their way towards reopening, NSW having begun more quickly than Victoria's. Thus, expectations are of a Q4 econimc bounce back and better data flow ahead. AUD/USD is down about 15 points from its pre-data session high. RBA Deputy Governor Debelle spoke earlier in the session but with not much impact (the views of the RBA are well known by now, tapering ahead but no rate rise forecast until 2024).

From China the September CPI came in under expectations while the PPI surged to its highest in 26 years and above the median estimate. Rising commodity prices were largely blamed, rising prices of coal particularly noted.

The Monetary Authority of Singapore (Singapore's central bank) tightened monetary policy a little (see bullets above) in a surprise decision (the overwhelming consensus was for on hold)

In Turkey, President Erdogan fired another three policy setters at the country's central bank. Th Turkish lira fell and has since stabilised as we await local trade response.

BTC is a little higher on the session. 

The Singapore dollar higher on the MAS decision:

Forex news for Asia trading onThursday14October 2021