ForexLive Asia FX news wrap: FX rates sedate ahead of the FOMC


The imminent Federal Open Market
Committee statement and Powell’s news conference kept a lid on
forex volatility during the Asian morning.

Net
change across major FX rates is tiny. USD/CAD did drop back towards
its late Tuesday America’s afternoon low. There is a Bank of Canada
policy statement and Governor press conference due later Wednesday
also.

News
and data flow was light. The Bank of Japan published its January
meeting ‘Summary of Opinions’ – the highlights were a
discussion of slightly higher inflation but members noted CPI was
unlikely to get to target any time soon and thus ultra-easy policy
would remain in place.

US
equity index futures rallied during Globex trade while regional
equities here are



mainly
up just a little.


The
reference rate for the onshore yuan hit nearly a four-year high for
CNY against the USD, while the CNY TWI hit its highest in around six
and a half years.

Markets
were closed in Australia today for a national holiday. As mentioned
above, today is FOMC (and BoC) day. Previews linked in here:

  • Federal Reserve and Bank of Canada meetings Wednesday 26 January 2022 – key times
  • EUR little changed:




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