ForexLive Asia FX news wrap: Bounce for US equity futures

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Tuesday 25 February 2020  

Coronavirus-related developments were once again centre-stage in Asia during the session with very little other market-related news nor data crossing. US equity futures trade on Globex was (as of updating) a one-sided bounce back, with the market grabbing hold of a couple of friendly pieces:

  • The Wall Street Journal reported on a vaccine. Pretty thin stuff with trials in people not until late April and results not until July and August. Sheesh.
  • US President Trump tweeted the virus under control in the US and he likes stocks here - it would be unlike the Prez to tweet anything else?
  • From China, Tianjin University said they have invented an oral vaccine to protect against the virus

Anyway, regardless of the basis, US equity futures performed solidly. Regional markets had some catch-down to do which kept them in the red.

  • Shanghai Composite -2.5%
  • Chinext -3.5%.

The AUD traded better on the session, seeming to top take a cue from US stocks. Also on the up (all of these small) EUR, CAD, GBP., NZD. USD/JPY tickled 111 and is just under as I update.

Forexnews for Asia trading Tuesday 25 February 2020  

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