ForexLive Asia FX news wrap to open the new week. GBP and NZD gain.

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 14 September 2020 

Weekend:

US equity index futures trading Sunday evening into Monday morning on CME's Globex moved higher on the session, Dow, ES and NQ all up around 1% give or take. There was a good amount of listed corporate news of relevance, with Japan's SoftBank to sell its Arm holdings to Nvidia, Oracle appears set to reach a deal of some sort of ByteDance for TikTok (the agreement does not appear to be a full sale but details are still broad only) and Gilead is to acquire Immunomedics. the deals could total around US$70bn and gave US stock sentiment a lift. Weekend news that AstraZeneca is to resume clinical trials in the UK was also a tailwind.

Forex though has not shown too much interest, with little net change on the session after gyrations in small ranges, with a couple of exceptions.

There was the usual barrage of weekend Brexit related news and opinion pieces, which saw a dip for GBP early in the session that soon recovered; cable is higher on the session, up circa 50 points from earlier lows.

NZD/USD, too, has had a bit of a gain on the day, heading back up towards 0.67 (not quite getting there yet). There was little news out of the country, lockdowns remaining unchanged about the only item of interest.

There was a snippet of info out of China that is constructive, China's top 25 construction machinery manufacturers excavator sales in August were up 51.3%, for a fifth consecutive month of growth above 50%.

Forex news for Asia tradingMonday 14September 2020 


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