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SINGAPORE The dollar drifted higher in the Asia session on Tuesday, pausing a monthlong decline as investors weigh whether a roaring U.S. economic recovery may force interest rates higher and are looking to upcoming economic data and policy speeches for clues.
The greenback rose about 0.2% against the yen, euro and pound in trade thinned by holidays in China and Japan. It stepped up slightly further against the trade-sensitive Australian and New Zealand counterparts while the dollar index against a basket of major rivals added 0.2% to 91.151.
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Australian Dollar Forecast: Will AUD/USD Gains Continue After RBA Decision?
2021-05-03 23:00:00
Thomas Westwater,
Analyst
Australian Dollar, AUD/USD, Reserve Bank of Australia -Talking Points
Wall Street advances but technology lags, APAC equities may follow suit
RBA decision may cause some Australian Dollar volatility in Tuesday’s session
AUD/USD shifts higher after moving averages converge to offer support
Tuesday’s Asia-Pacific Outlook
Asia-Pacific markets may see a more optimistic tone across major equity indexes following a generally upbeat Wall Street performance to start the week. The Dow Jones Industrial Average (DJIA) gained 0.70%. Traders dove into industrial and healthcare names but moved away from technology stocks, with the NDX 100 index declining 0.44%.
MORNING BID-Driving down the recovery highway Reuters 5/4/2021
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With the U.S. economic recovery story firmly entrenched into the market mindset, Monday s softer-than-expected U.S. manufacturing report pushed Treasury yields lower and toppled the dollar from multi-week highs. On the other hand, there were upbeat earnings, news of cities reopening, and a dovish Federal Reserve, all of which are keeping the tone relatively positive.
What s more, the data from the Institute of Supply Management (ISM) showed that rising costs and capacity pressures undermined output rather than any hit to demand. South Korean export data and German retail sales figures have broadly confirmed that trend.
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