ForexLive Asia-Pacific FX news wrap: Minor FX moves only

Jugal patil

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It was a very quiet day for fresh news of relevance to markets, and data points were of lower-tier importance only. FX rates moved in very small ranges only.

Goldman Sachs were out with a note saying they have increased confidence that Congress won’t have to act on raising the US debt limit until late July. GS cite a surge in tax collections surrounding the April 18 filing deadline in their reasoning.
In other debt ceiling news, the US House passed its spending cut/debt limit bill. It stands zero chance of passing the Senate but the good news is that its another step forward in negotiations. Its also indicative of how much support the Tea Party faction of the US Republican party has lost, Kevin McCarthy, House majority leader, only saw 4 of his House party members vote against the bill.

Asian equity markets:

Japan’s Nikkei 225 -0.2%

China’s Shanghai Composite +0.3%

Hong Kong’s Hang Seng +0.1%

South Korea’s KOSPI +0.04%

Australia’s S&P/ASX 200 -0.4%

Tomorrow we get the April Bank of Japan policy decision. Its Governor Ueda's first meeting in the big chair.