ForexLive Asia FX news wrap: Musk rattles NASDAQ

Forex news for Asia trading on
Monday
8
November 2021

NASDAQ futures trading on Globex
came under some selling pressure upon reopening for the week on the
back of a tweet from Tesla CEO Elon Musk over the weekend asking his
followers if he should sell some TSLA shares. Yes, really. Check it
out here:

Also
over the weekend were trade figures for October from China, with a
big jump in exports and the largest trade surplus on record (so far).
It wasn’t all good news for China though with further property
sector-related bond payments missed. China and Hong Kong stock market
indexes are trading mixed on the session, gyrating around not much
changed.

From
the US over the weekend (late Friday evening US time) was the news
that the House of Representatives in Congress had voted to pass an
infrastructure bill – its now to be signed by US President Biden,
the US Senate having passed the bill weeks ago.

Across
the forex space there have been some minor moves during the session
here. USD/JPY is up around 25 points – the Bank of Japan ‘Summary’
(see bullets above) emphasised the Bank would not be dialling back
easy policy any time soon.

Gold
is up a few dollars while Bitcoin traded steadily over the weekend
and drove higher to above US$65.5K at one stage during Asia trade
here.