FOREX NEWS

ForexLive Asia FX news wrap: Awaiting the RBA – ForexLive


Forex news for Asia trading
for Tuesday 6
October 2020 

Ranges for major FX rates
stayed in small ranges here during the Asia session with very little
news nor data flow. In addition, China remained on holiday (Chinese
markets return on Friday, October 9).

On
the politics front we had
a carefully stage-managed departure from the hospital of Trump, whisked
back to the White House by Marine One helicopter. Trump headed up to
the balcony
for a photo-op but was displaying obvious
signs
of breathing difficulty. The White House later confirmed he will
remain under round-the-clock medical care while staying in the
residence. Work arrangements have been made for Trump so he will not
have to go into the West Wing, but I doubt anyone can stop him if he
decides to head there.

US
equity futures found a small bid during the media circus but soon had
their gains chopped by a news headline saying the US House is moving
to examine the break up of tech giants. Let’s see if anything comes
of that but it was enough to trigger a wobble.

There
was a near-total absence of any US coronavirus economic stimulus news
nor rumour. The only indication we did get was not of a lot of
significance but nevertheless a bit of a downer. Mnuchin requested a
meeting with Pelosi on Friday but she gave him the cold shoulder
saying she did not want anyone from the White House coming into the
building due to the virus outbreak hotspot there. Negotiation via
phone only.

USD/JPY
is, net, just a touch lower on the session. EUR, AUD, GBP, NZD and CAD
are all up very small against the US dollar. Gold is down just a few
dollars. The ranges are all small.

Still
to come is the Reserve Bank of Australia policy announcement, due at
0330GMT, with Australia’s federal government budget due at 0830
GMT. 

US media was harsh on Trump:

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