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ForexLive Asia-Pacific FX news wrap: USD mainly a little higher | Forexlive

The
USD mainly held its ground during the session, EUR/USD, AUD/USD,
GBP/USD all a little heavy while USD/CHF and USD/CAD are higher. Yen,
of course, is in its own world, USD/JPY is down a few points net for
the day.

There
was little in the way of pertinent news, although the Chinese spy
balloon over continental USA is a geo-political factor. It’ll be a
bone of contention in this weekend’s meeting, US Secretary of State Blinken is heading off to
China to meet with Chinese President Xi.

The
data focus was on another Chinese PMI, the Caixin/S&P Global
Services PMI, final for January. It came in at an expansionary
reading, its first in five months. Chinese data ahead should continue
to be positive due to reopening and government stimulus. Chinese
stock markets, both mainland and in Hong Kong slumped today.

Asian
equity markets:

  • Japan’s
    Nikkei 225 +0.35%

  • China’s
    Shanghai Composite -1.37%

  • Hong
    Kong’s Hang Seng -1.77%

  • South
    Korea’s KOSPI +0.41%

  • Australia’s
    S&P/ASX 200 +0.5%

China’s spy balloon