FOREX NEWS

ForexLive Asia FX news wrap: Flatlines into the US holiday – ForexLive


Forex news for Asia trading Friday 3 July 2020 

There was the usual mixture of negative and positive news out of the
US into early Asia trade with a third day in a row of record new
COVID-19 cases, but more promisingly the introduction of mandatory
mask wearing measures in Texas, a current global hotspot for
infections. There was plenty of other virus related news also, not
just in the US (Tokyo recorded another 100+ new cases, for example).

Data
releases centred upon services PMIs, these plummeted to a larger
extent than did manufacturing PMIs and are now bouncing back.
Australia released retail sales data for May, which surged after the
collapse in April.

None
of anything managed to move forex to much extent though, its all
pretty much flat. USD/CAD looks a little precarious poised just above ragged support (short term chart).

Its
a US market holiday on Friday which is likely to keep a lid on
movement ranges for the balance of Friday barring some news of
impact.

USD/CAD

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