ForexLive Asia-Pacific FX news wrap: Oil higher again

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Oil
continued its price move higher during the Asian session. There was
no fresh catalyst, the forces of:</p><ul><li>demand
rising</li><li>supply
being held back</li><li>inventories
falling</li></ul><p>carried
on supporting the price.
</p><p>The
data focus during the session was on Australian retail sales for
August, which came in at a miss. Sales gained 0.2% m/m (0.3% was the
consensus) and just 1.5% y/y. AUD and NZD rose against the USD
during the session as their rebound from late in the US afternoon
persisted.
</p><p>USD/JPY
dribbled back towards 149.40.
</p><p>The
People’s Bank of China is continuing to hold the CNY (and therefore
the CNH also) from falling too
far in
value further. The modelled estimate for the mid-rate was above 7.32
but the PBoC set USD/CNY on the 7.17 big figure again today. The
difference was over 1440 points and another record-high divergence.
ICYMI, China will be out on holiday beginning Friday, 29 September
2023 right through next week.</p><p>
Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 -1.7%</p></li><li><p>
China’s
Shanghai Composite +0.04%</p></li><li><p>
Hong
Kong’s Hang Seng -1.3%, Evergrande shares suspended</p></li><li><p>
South
Korea’s KOSPI +0.1%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 0.0%
</p></li></ul><p>Brent crude:</p>

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