ForexLive Asia FX news wrap: USD strengthens further in the post-FOMC Asia session

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Thursday 17 September 2020 

Losses for currencies pretty much across the board with flows into the US dollar continuing here in Asia. US stock index futures lost ground with the risk-off sentiment. The People's Bank of China were not to be outdone, after the nearly 400 point revaluation for the CNY against the USD on Wednesday the Bank did it again to the tune of 150 points this time. For the session overall though yuan has lost ground against that strong USD.

News flow was slow but there was plenty of data.

New Zealand Q2 GDP came in slightly better than forecast (that is the deep, deep contraction in activity was -12.2% instead of -12.5% expected). At the time of release the NZ dollar barely responded but it has dropped on the day as the USD gained.

Australia reported its August job numbers, these were a stunning beat; a huge 111K gain for headline employment and a 6.8% unemployment rate (vs. 7.7% expected). AUD/USD popped 35 or so points back to session highs (it had lost ground earlier) but soon lost all of that gain as US dollar buyers once again swept through. 

Offshore yuan down also (USD/CNH up) - hourly candles:

Forex news for Asia tradingThursday 17 September 2020 

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