Forex news for Asia trading Tuesday 14 July 2020

CAD was a loser during the session, weakening alongside the lower oil price as the Asian morning progressed. The background to lower oil prices are concerns that the escalation in the coronavirus outbreak in the US will dampen deamnd (it difficult to argue this is a fresh catalyst though). A meeting this week of OPEC's JMMC is likely to further progress the idea that oil production cutbacks could be unwound a little (this was in the news on Monday).

Its not as if the USD/CAD move is a big one, there was not too much of a range but ranges elsewhere for currencies were not much larger and many were smaller.

AUD/USD slipped a little with some bad virus numbers out of the state of Victoria (another +250 day for new cases, hospitalisations, ICU usage, ventilator usage all rising and these numbers will get worse in the coming week). AUD/USD has since retraced to net barely changed on the session. Australian business conditions and confidence continued their recovery in the data released today.

NZD/USD is a little lower. EUR and GBP continue to tiny range theme, bot just a touch down against the dollar.

USD/JPY is under 107.20.

Forex news for Asia tradingTuesday 14July 2020Title Here