ForexLive Asia FX news wrap: Gold the big mover

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 9 October 2017  

Weekend:

Gold followed its gains on Friday in the US with further gains here Monday in Asia. China returned from a week-long holiday and a name-calling spat between US President Trump and US Republican Senator Corker (something about White House Day Care and nuclear war ... go figure) were both cited as reasons.

Meanwhile over in FX land there was plenty of weekend news and politics:

  • Spain
  • New Zealand
  • Japan
  • UK (Brexit developments)
  • Germany
  • Turkey (TRY a big mover early on)

See bullets above for more on all these. Forex rate movements were skittish in the early low liquidity environment, NZD lower most notable but movement elsewhere also. As the session progressed movement subdued to enter narrow ranges. Japanese markets were closed for a holiday today and while it's a holiday coming up in the US too major exchanges are open for business.

Over the session net movement has been small despite some wobbles. USD/JPY had hit under 112.35 at one stage but is back around 112.60 as I update. EUR/USD saw under 1.1720 but it too has come back to circa 1.1740 as I update. USD/CHF is little changed, as is AUD/USD. NZD/USD has maintained a little lower than its late Friday level.  Cable is up a very few ticks circa 1.3085 after highs earlier above 1.31.