Forex news for Asia trading for Wednesday 2 December 2020

While forex ranges in Asia during the session here today were not large, yen crosses were notable movers. USD/JPY moved towards (but not to) 104.50 from an early low under 104.25 (briefly) while other major FX gained at least a few points pretty much across the board against the USD.

Impactful news flow was light indeed, but on the data front we got Q3 Australian GDP showing a beat on expectations. AUD/USD has net gained only ten points or so on the session (GDP data is always 'old' news).

While in Australia, Reserve Bank of Australia Governor Lowe spoke today, appearing before a parliamentary committee. Lowe stuck to familiar ground, after the substantial policy moves in November it is too soon to expect him to be flagging any new initiatives. Lowe was, as he most usually is, net upbeat (even if a little tempered by a poor employment outlook). NZD/USD is slightly higher on the session also.

EUR/USD is also slightly up, while cable is more or less flat on the day, as is USD/CAD.

As a heads up, ECB Chief Economist Philip Lane may be speaking today, at 1400GMT. May be. Do stay tuned though as it was Lane who jawboned the EUR lower in the early part of September.

And, one more thing, though its not strictly FX; as this goes to post Trump has threatened to veto a circa trillion USD bill that funds the military and Pentagon unless Congress repeals legal protections for Silicon Valley. This is a substantial escalation of a White House war on big tech and has serious national security implications. I don't know if the concern may seep into markets, but a heads up.

Forex news for Asia tradingfor Wednesday 2December 2020