FOREX NEWS

ForexLive Asia FX news wrap: Pre-NFP session in Asia – ForexLive


Forex news for Asia trading Thursday 2 July 2020 

The session began with some small losses for the USD, emphasis on
small, with AUD, NZD, GBP and even EUR up just a little. CAD was a
laggard, well it was a loser, falling some against the USD. Yen lost against the dollar also. 

Data
flow was non-impactful, and there was not a lot of it. Australian
exports and imports were both lower on the month (May was reported
today) but the trade balance remains elevated as imports have
weakened more than exports since the global outbreak.

AUD
dropped away, losing its gains (I’ve already mentioned they were
small only) as the Prime Minister floated the idea of making the
country a ‘safe haven’ for Hong Kongers in the wake of China’s
new security law. The other currencies I mentioned above as having
gained against the dollar gave back a few points alongside but AUD
was the biggest.

The
news on the spread of coronavirus in the US worsened again, Bloomberg
report a surge of move than 50,000 cases in the preceding 24 hours
while other sources came in just slightly under this figure. Goldman
Sachs note that more than half of the US has now, or is in the
process of, dialling back the reopening moves. You’ll note in the
bullets above the case count jump in Australia also, small potatoes
compared to the US but not a positive for reopening in Australia
nonetheless.

NZD:

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