ForexLive Asia FX news wrap: Some currency retracement in Asia

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Friday 30 October 2020

After gains in the US timezone the US dollar gave some ground back here in Asia today. There was little in the way of impactful new news the FX moves were flow driven and of a retracing nature.

AUD and NZD both showed pops, but NZD/USD has given much of its back. AUD/USD is holding near its session highs circa 0.7050.

EUR/USD has tip-toed back towards 1.1700 but as I update has not yet hit the figure. CAD is up a little also, Cable has been a laggard.

USD/JPY and USD/CHF are both near session lows as I post.

There was little fresh on the US election front. Polls show the gap between Trump and Biden is not narrowing much, fairly steady but of course some polling organisations are showing different to others. The backdrop of coronavirus infections continues to darken, the l;aterst Reuters tally has new confirmed cases as of Thursday evening above 91,000 for the day, smahsing the previous record high and still accelerating. New Orleans has been lashed by one of the strongest hurricanes to ever pass over the city. Reports are as much as 80% of the city is without power.

The Chinese yuan clawed back some if its recent loss on the session here today, coinciding with a press conference given by the Chinese Communist Party outlining big picture policy goals coming out of the plenum meeting that concluded Thursday. 

Forex news for Asia tradingfor Friday 30October 2020

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