ForexLive Asia FX news wrap: China on holiday today, FX subdued ranges

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Thursday 25 June 2020 

Markets in China were closed for a holiday today, they'll be closed again on Friday and back on Monday. 

Its often the case that FX trades in subdued ranges on Chinese holidays and today was no exception.  We followed on from drops in US markets on Wednesday with weaker equity markets here in Asia, of course. 

EUR and JPY have both continued their losses against the USD during the session, albeit like I said in small ranges. AUD and NZD showed a little higher but have since come back to be little net changed as I post. CAD falls into the little net changed basket also, while GBP is just a touch weaker.

News flow was light, we saw reports from the US afternoon of continued steep rises in US coronavirus cases and hospitalisations, and as the morning progressed in Australia we got the number from outbreak hotspot Melbourne in Australia reporting its highest new case number in 2 months.

Data flow, too, light. NZ trade data showed the impact of weaker coronavirus-impacted domestic demand on imports, slowing noticeably. 

Texas coronavirus curve, the opposite of flattening:

Forex news for Asia trading Thursday 25 June 2020 

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