Asia-Pacific TP news wrap: China began its long holiday today

USD/CAD round trip:

  • Friday, 29 September 2023 | 08:26 GMT 5.5
  • Forex news for Asian trading on Friday, 29 September 2023

With yields, the USD, and the oil price dribbling back a little it was a promising day for regional equities and also ‘risk’ FX. AUD and NZD rallied, as did GBP and EUR. USD/CAD traed up to 1.3505 before dropping back to where it began the session around 1.3485.

USD/JPY traded a little higher, the threat of intervention is holding the pair back from approaching too closely to 150.

  1. Tokyo September CPI: This refers to the Consumer Price Index for the month of September in Tokyo, Japan. CPI is a measure of inflation that tracks changes in the prices of a basket of goods and services. It’s noted that all three CPI indicators in Tokyo are above the Bank of Japan’s 2% inflation target. However, they have decreased slightly compared to the previous month’s results, indicating a potential slowdown in inflation.
  2. China’s long holiday: China has started a long holiday, and markets in China will be closed for the following week. This information is important for traders and investors who have exposure to Chinese markets, as they need to be aware of market closures and reduced trading activity during this period.
  3. National Bureau of Statistics (NBS) official PMIs for September: The National Bureau of Statistics in China is set to publish official Purchasing Managers’ Index (PMI) data for September over the weekend. PMI is an economic indicator that provides insight into the health of the manufacturing and non-manufacturing sectors in China. This data can have a significant impact on financial markets.
  4. Daylight saving time in Australia: The text mentions that relevant areas of Australia will transition to daylight saving time on Sunday. This information is relevant for traders and investors who participate in Australian markets, as it affects trading hours and timing.

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