FOREX NEWS

ForexLive Asia FX news wrap: USD strengthens further in the post-FOMC Asia session – ForexLive


Forex news for Asia trading
Thursday 17 September 2020 

Losses for currencies pretty
much across the board with flows into the US dollar continuing here
in Asia. US stock index futures lost ground with the risk-off
sentiment. The People’s Bank of China were not to be outdone, after
the nearly 400 point revaluation for the CNY against the USD on
Wednesday the Bank did it again to the tune of 150 points this time.
For the session overall
though yuan has lost ground against that strong USD.

News flow was slow but there
was plenty of data.

New
Zealand Q2 GDP came in slightly better than forecast (that is the
deep, deep contraction in activity was -12.2%
instead of -12.5% expected). At the time of release the NZ dollar
barely responded but it has dropped on the day as the USD gained.

Australia
reported its August job numbers, these were a stunning beat; a huge
111K gain for headline
employment and a 6.8% unemployment rate (vs. 7.7% expected). AUD/USD
popped 35 or so points back to session highs (it had lost ground
earlier) but soon lost all of that gain as US dollar buyers once again
swept through. 

Offshore yuan down also (USD/CNH up) – hourly candles:

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