ForexLive Asia-Pacific FX news wrap: Yen little changed, awaiting the BOJ | Forexlive

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Bank of Japan Statement and Governor Ueda’s press conference
following is due on Tuesday. USD/JPY is little changed on the day
awaiting these.

major FX was characterised by general USD weakness. EUR, BP, CAD, AUD
all rose a little. NZD/USD was a better performer. It opened by being
marked down in very early trade but has since rallied to highs around
0.6240. Early in the session was data from NZ showing Q4 consumer
confidence hit a two-year high. This data is generally not much a
forex mover upon release and its doubtful it accounts for much, if
any, of today’s rise.

flow today and over the weekend was light. From
China we did have comments from an official from the Chinese
Communist Party’s General Office of the Central Financial and
Economic Affairs Commission saying that the major economic targets
set for 2023 are expected to be achieved. He said that China’s
economic growth faces more opportunities than challenges and more
favourable conditions. There is more in the bullets above.

Russian Deputy PM Novak said Russia would deepen cuts beyond the 300,000 barrels per day of cuts, “there may be an additional 50,000 bpd, maybe more.”

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