ForexLive Asia-Pacific FX news wrap: Awaiting the Federal Open Market Committee (FOMC)

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The
Australian dollar was a mover on the session, marked lower after
inflation data for Q2 2023 was released. The headline and one of the
core measures (trimmed mean)came in lower than expected, and the
annualised rate for the past six months to 2.6% were all positive
news. Less encouraging was the other core measure (weighted median) a
touch above central estimates and also services inflation hitting its
highest in 22 years. NZD/USD dropped away a few points alongside the
AUD.
</p><p>Moves
were more subdued elsewhere as most traders were happy to sit on the
sidelines ahead of the Federal Open Market Committee (FOMC) due
Wednesday afternoon in the US.
</p><p>Oil
inventory data showed a surprise build vs. the draw that was
expected, taking a small bite out of the oil price.</p><p>The
People’s Bank of China set the CNY a touch stronger than expected
again today.
</p><p>Otherwise
news and data flow was very light.
</p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 0.0%</p></li><li><p>
China’s
Shanghai Composite -0.3%</p></li><li><p>
Hong
Kong’s Hang Seng -0.5%</p></li><li><p>
South
Korea’s KOSPI -0.7%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 +0.9%
</p></li></ul>

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