ForexLive Asia-Pacific FX news wrap: China 1-day COVID case increase largest since April | Forexlive

The
China reopening rumours are persistent, despite official Communist
Party denials. The chatter was offset today though by the biggest
rise in coronavirus cases in six months. Chinese stock markets gave
back some of their recent gains during the morning session.

Crypto
markets were rocked further by the ongoing FTT coin slump. As I post
its just under USD18.

Bitcoin
is just above USD20K.

Moves
across major FX, on the other hand, were subdued. EUR, JPY, AUD, GBP
and others are a touch softer against the USD. Ranges are small only
though.

Data
releases were of lower-tier importance only. Australian business
confidence and conditions fell from the previous month. Consumer
confidence is cratering. Westpac’s monthly measure of consumer sentiment plunged. WPAC analyst cited: inflation; poor response to the Budget; and rising interest rates.

Inflation expectation indicators in
Australia (the weekly survey hit its highest ever) and New Zealand
continue to rise.

FTT: