ForexLive Asia FX news wrap: Still waiting on US Congress to agree on a package

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 25 March 2020 

A quieter day on the forex today in Asia as once again the focus was on the US Congress and the negotiations over the coronavirus economic relief measures. As I post there still has not been a vote (and indications are a vote is unlikely this evening in the US) and indeed why would there be when an agreement has not been reached; back-and-forth of meetings continues. Kudlow said the package would be around 6tln, but he was including 4tln in efforts from the Fed, so 2tln is still the ballpark. 

Apart from the occasional word of encouragement from either Mnuchin or Schumer there was little to go on for the markets. Coronavirus headlines continued, of course, the situation is deteriorating in NZ and Australia, prompting tighter lock down restrictions in those countries. US President Trump once again pondered aloud ligting restrictions in the US in time to celebrate Easter at his briefing. Fox reported that in private discussions with Wall Street execs he conceded this was unlikely, but still his public words contradict (see bullets above).

Net for the session the USD is a little weaker, with decent ranges for an Asian session but mild compared with yesterday's. 

Forex news for Asia trading Wednesday 25 March 2020 

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