ForexLive Asia-Pacific FX news wrap: Bessent cited in US equity index futures weakness ...Middle East

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China was busy over the weekend with additional developments:

Shenzhen announced eased housing finance rules, providing more support for the property market.China did not renew import licenses for an estimated $3-5 billion in US beef, pork, and chicken, signaling continued trade tensions.

Economic data for January-February showed solid growth in retail sales and industrial output, but unemployment ticked higher, and property investment remained weak.New home prices fell 4.8% in February, versus a 5.0% drop the previous month

From the US, Treasury Secretary Bessent spoke in a TV interview, making headlines with two key points:

He welcomed falling stock prices, calling it a healthy correction.He wouldn’t rule out the possibility of a recession, adding to cautious sentiment.

US equity index futures opened lower after Globex reopened for the week’s trade.Oil prices spiked but later pulled back, with Middle East tensions in focus—Houthi attacks on US naval ships and Trump’s warnings to Iran and the Houthis were cited as factors.In FX markets, USD/JPY swung within a 40-point range, with no major yen-specific news beyond Japan’s Prime Minister Ishiba denying FX manipulation.Other major currencies traded in tight ranges, with AUD failing to catch a bid despite China’s 30-point consumption boost plan.

SPX (this is a CFD):

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

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