ForexLive Asia FX news wrap: Awaiting the NFP and then Powell

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Friday 4 October 2019

Asian forex traded in small ranges awaiting data from the US and the Federal Reserve Chair speaking. We did get extensive comments from Federal Reserve Vice Chair Clarida but despite their length they did not add anything fresh or new. Clarida hedged his comments, looks good, careful of deterioration, will do what is appropriate. You know, the usual. Central banker speak at its best I guess.

On the Brexit front, the European Union have given UK PM Boris Johnson one weelk to come up with an acceptable plan for a deal (see bullets above).

The data of focus for the day was retail sales (August) from Australia, a small miss but an improvement on the month with tax cut spending cited. Also from Australia was the half-yearly Reserve Bank of Australia Financial Stability Review and a speech from Luci Ellis, RBA Assistant Governor (Economic Group). Through all this the AUD/USD has maintained a small range only and is mid-range circa 0.6750 as I post. NZD/USD is slightly better bid, up 25 or so points when it hit its highs and is just off there now.

EUR/USD also made a small gain, up 25 or so points from its low also. Cable is a similar story.

Forex news for Asia trading Friday 4 October 2019

CAD is up a few tics against the USD, as is yen. USD/CHF, conversely, is a touch higher. Gold maintained above 1500USD.

Still to come:


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