ForexLive Asia FX news wrap: US stock index futures turn up, currencies ditto

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 16 September 2020 

Correlation between US stocks and currencies again in Aisa today. 'Overnight' US stock index futures trade was down a little before turning around and that's the pattern for most currencies against the USD here also. On the news front it was more negative news for Facebook again, The US Federal Trade Commission is reportedly preparing a possible antitrust lawsuit against Facebook, which closely follows on the heels of Kim Kardashian kicking it to the kerb on Tuesday in the US. That was a bit of bad news for US stocks but as already pointed out as I post that's been reversed.

EUR, AUD, NZD, GBP, CHF all lost a little ground early and have al;l since reciovered, AUD and NZD adding on the best gains of the lot (NZ saw some extra benefit from a less dour NZ Treasury report), but CAD is doing OK also. EUR and GBP are both lagging the moves just a little.

USD/JPY has had a weak session pretty much throughout, though, despite the 'risk' recovery evident in the RORO complex outlined above yen has steadily ticked higher. This is something worth keeping an eye on if it develops further.

The PBOC ramped the onshore nearly 400 points stronger at the mid rate setting today. 

Even gold caught a mild bid:

Forex news for Asia tradingWednesday 16September 2020 

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose