May 30, 2023

ForexLive Asia FX news wrap: Evergrande kicks off 2022 with more problems


New Zealand, Australia, Japan, and China were all out on holidays again today but normality will return from Tuesday. As a heads up the UK and Canada will also celebrate a holiday today.

News and data flow was light but Evergrande popped up in the news once again, this time with an order to demolish 39 residential buildings due to an incorrectly obtained permit (see bullets above). In further news trading in the shares in the firm was suspended in Hong Kong although the suspension appears unrelated.

There was a small fall out of favour for ‘risk’ FX, with a drop from earlier highs for AUD, NZD, EUR, GBP, CAD to varying extents. USD/JPY gained ground though.

asia wrap aud chart 03 January 2022

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