ForexLive Asia-Pacific FX news wrap: Gappy morning

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ForexLive Asia-Pacific FX news wrap: Gappy morning

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EUR/USD
and GBP/USD showed significant price gaps higher in very, very early
Asia trade Monday morning (when the only active market was New
Zealand, and even prior). It was difficult to pinpoint any new
development at all to account for the bids. AUD/USD, NZD/USD, USD/JPY
and USD/CHF all showed downside gaps. A very mixed bag.
</p><p class="western">Weekend
news from the war was of ian recaptures of occupied areas. From
the ECB we had some officials, and also unnamed sources, warning of
further rate hikes to come (but we know this already). Yellen flagged
likely rising gasoline (&oil) prices ahead as the price cap on
n oil takes effect and the hapless invaders take revenge.
</p><p class="western">As
the morning rolled on the gaps retraced. USD/JPY recovered from its
hole to trade a little higher. EUR/USD and GBP/USD did not fully
retrace their up gaps.
</p><p class="western">From
China we had news of further restrictions in Beijing in response to
rising cases. While the news out of Iran talks (see bullets above)
were net bullish for oil the worries over demand (China restrictions, for example) provided a (greater) headwind and prices for WTI and
Brent fell on the session. It was a market holiday in China (and Hong
Kong).</p><p class="western">After
an encouraging open higher move US equity index futures filled that
gap, too, dribbling off a little.
</p><p>Oil:</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: ForexLive Asia-Pacific FX news wrap: Gappy morning

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