ForexLive Asia FX news wrap: USD losses extend in Asia post-Powell

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Thursday 11 July 2019

A dovish Powell at his testimony to Congress Wednesday (he is there again later today) saw the USD lose ground and equities gain. This played out further in Asia today with currencies up against the dollar to varying extents while regional stock markets were higher also.  

Forex news for Asia trading Thursday 11 July 2019

Fresh news was thin on the ground through the session, although we did get a few pieces of data (of limited forex impact). 

In addition to currencies trading higher gold also held onto its gains and did manage above 1,425USD at one stage. For cryptos the news was not so positive, BTC/USD, for example, gave back ground further towards 11,500USD at one point during the session.

Its a busy session coming up Europe and the UK. Plenty of data and also ECB minutes (for their June meeting)  

Still to come:

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