ForexLive Asia FX news wrap: Flatlines into the US holiday – ForexLive
Forex news for Asia trading Friday 3 July 2020
- Gold price forecast lifted to $1,800 (from $1,700) by year end
- Coronavirus – Japan’s Suga says no need to reintroduce the state of emergency
- Next week in FX – key themes
- China Caixin/Markit PMIs: Services 58.4, and Composite 55.7 (for June)
- Australia Retail Sales for May +16.9% m/m (April was -17.7%)
- Coronavirus – Australian state of Victoria has 66 new cases reported, down from yesterday (+77)
- PBOC sets USD/ CNY reference rate for today at 7.0638 (vs. yesterday at 7.0566)
- FX option expiries for Friday July 3 at the 10am NY cut
- US Coronavirus cases rise by nearly 55,000 on Thursday, largest daily increase by any country in the world
- Jibun Bank/Markit (June) PMIs: Services 45.0 and 40.8Composite
- North Korea says it supports China against US aggression
- US reporting over 51,000 new coronavirus cases for Thursday, 3rd record high in a row
- Trump administration plans to open new coronavirus crisis pandemic office
- UK – GfK Consumer Confidence for June, final -27
- CBA/Markit (June, final) PMI Services 53.1 and Composite 52.7
- Australia AiG Construction PMI for June: 35.5 (prior 24.9)
- Coronavirus – UK will lift quarantine requirement for many European countries from July 10
- Japan PM Abe’s party will call on the government to cancel China President Xi’s visit
- Global Times: China may further loosen monetary policy to bolster growth
- ICYMI – China to introduce 12% tariffs on Australian beef exports
- Trade ideas thread – Friday 3 July 2020
- US coronavirus – Texas new cases up 7,915 to nudge 176,000
- US Coronavirus – Texas orders mandatory mask requirement
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).
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.
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).
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
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