FOREX NEWS

ForexLive Asia FX news wrap: Slightly firmer USD to begin Monday – ForexLive


Forex news for Asia trading Monday 25 May 2020

Weekend:

Check out the headlines above for the ratcheting up of US-China
tensions further over the weekend. These spilled over slightly into
forex markets for the opening session of the new week with a small bid tone for the USD. Ranges were not large though. It could be a
bit of a wait for the ranges to extend with a UK and US holiday ahead
for Monday, although if there is any news flow to drive currencies, moves could be exacerbated with the lower liquidity than usual.

On
the data front we had preliminary trade data from Australia today
(preliminary only, it is subject to revision). The data showed
exports lower on the month but nevertheless relatively resilient.
Imports were down substantially, reflecting the weakening in domestic
demand we have seen elsewhere due to the impact of the coronavirus
outbreak and response.

From
the People’s Bank of China today we got a huge drop for the onshore
yuan with the central parity rate weakened 270 pips from Friday’s
to the lowest level for the CNY reference rate since the end
of February in 2008.

Weaker CNY mid-rate setting:

Let’s block ads! (Why?)


Scalping Strategy Course (DVD + Online) - $299.00

In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.




Forexmentor Coach's Corner First Month (Online) - $149.00

The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.



Source link

Have your say