ForexLive Asia FX news wrap: Trump signs the US COVID relief bill

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Monday 28 December 2020

ICYMI:

After a week of calling the economic relief plan a disgrace and terrible Trump abruptly changed course completely Sunday evening in the US and signed the bill passed by Congress prior to Christmas. This averts a US government shut down and provides, admittedly now a week delayed, support to many millions of struggling Americans.

The FX session has been characterised by thinner than normal liquidity and some choppy trading with some regional markets closed (Australia, New Zealand) and a holiday-staffing prevailing in others. Currencies have net benefited from the COVID-19 bill signing, USD is net lower on the session. Gold rose strongly:

Forex news for Asia tradingfor Monday28December 2020

The People's Bank of China set the onshore yuan at its strongest level since June of 2018 against the US dollar today, the mid-rate was set at 6.5236.

  • S&P500 eminis are +0.5% in Globex trade. Regional markets:
  • Nikkei +0.43%
  • Hang Seng +0.33%
  • Shanghai +0.4% 


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