FOREX NEWS

ForexLive Asia FX news wrap: EUR/USD back above 1.1900 – ForexLive


Forex news for Asia trading
for Wednesday 25
November 2020 

News and data flow was fairly
light today but with a significant press conference from the Reserve
Bank of New Zealand. I’ll come back to that.

The
big mover on the session thoiugh has been the euro, EUR/USD climbing
back above 1.19. Also moving were regional stocks, all higher after
the strong session in the US on Tuesday. Japanese
stocks (Nikkei undex) gapped open to
their highest since May of 1991.

Reserve
Bank of New Zealand Governor Orr spoke at a news conference, most
notably:

  • he
    said that while the Bank wanted to be ‘operationally’ prepared
    for negative rates the Bank has not yet said it’ll be going negative
  • he
    also did not mention comments he has made previously that he wants to
    work to get bond yields lower

Both
these points underpinned the NZD on the session here. Having
said this NZD/USD has not done a lot, its up just a touch on the day.
Cable is fairly flat and AUD/USD has dropped back from early highs above
0.7370. Australian
construction work data
(Q3)
was overall lower, but public sector worked increased (private sector
down) and with a likely public
housing construction pick up ahead
(admittedly from woeful historic
lows)
and state government coronavirus-combating
spending ahead should see a boost to this measure in the quarters to come.

USD/JPY,
USD/CAD, USD/CHF are all little changed.

As
I post BTC has dribbled back under 19K, some market-relevant news
crossed earlier (see bullets above). 

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