ForexLive Asia FX news wrap: Small loss for the US dollar

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Tuesday 27 October 2020

It was a day of small ranges only and a lower USD almost across the board. AUD, NZD, GBP, CAD, EUR all rose, as did yen and CHF. Gold added on a few dollars also.

There was no obvious news to drive the small moves, although new confirmed coronavirus cases in the US increased at a slower pace than was reported yesterday and may have been a factor. The lower numbers may very well be the weekend effect, as we saw over and over again during wave #1 earlier in the year.

The nail was hammered into the US economic stimulus coffin today with Senate leader McConnell adjourning the upper house until November 9.

While currencies added on a few points Asian equities were down. US equity index futures are barely changed in Globes trade so far.

On the data release front the focus was on China. China's reported industrial company profits for September showed a fifth consecutive month of growth but:

  • the rate of increase was down on August
  • the YTD is still down so far for 2020 

In US politics news, Twitter blocked a Trump tweet, more or less calling the Prez out on lies:

Forex news for Asia tradingfor Tuesday 27October 2020

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