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ForexLive Asia-Pacific FX news wrap: Digesting the FOMC and a hawkish Powell


  • Forex News for Asian Trading for Thursday, November 3, 2022

Eamonn Sheridan

Thursday 03/11/2022 | 03:27 GMT-0

03/11/2022 | 03:27 GMT-0

Major FX ranges were more constrained than they were in a volatile post-FOMC session in the US.

Japan was away for a public holiday here today, which meant there was no cash exchange of UST.

The net dollar gained after Federal Reserve Chairman Powell’s press conference. There was a minor follow-up to that at the start of the session here, and then a minor comeback. As mentioned, the beaches weren’t great. USD/JPY is a bit of an exception. It tested towards 148.00 and fell around 80 points.

Regional stocks slipped.

Data points of note were a rebound in Australian exports (data for September) and a further contraction in the Chinese services PMI (Caixin).

Speaking of China, coronavirus cases have risen again. The Canadian government has ordered three Chinese companies to divest small lithium miners.

In geopolitical news, North Korea launched three more eastward missiles today.

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