ForexLive Asia FX news wrap: Trump signs the US COVID relief bill
Forex news for Asia trading for Monday 28 December 2020
- Gold is liking Trump signing the coronavirus relief package
- Here's the official confirmation Trump has signed the coronavirus relief bill
- PBOC sets USD/ CNY reference rate for today at 6.5236
- Rumours now that Trump has signed the coronavirus relief bill
- US press says Trump has indicated he will sign coronavirus stimulus bill
- The BOJ 'summary' made clear the bank is going to be intolerant of a rising yen
- BOJ December monetary policy meeting Summary of Opinions
- Japan data: Nov Industrial production (flash) 0% m/m (vs. expected +1.1%)
- Trump tweets "Good news on coronavirus relief bill"
- Trump is continuing to refuse to sign the US Coronavirus economic relief bill
- Coming up - the European Parliament will meet on December 28 to discuss the Brexit trade deal
- Monday morning open levels - indicative forex prices - 28 December 2020
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:
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%