ForexLive Asia FX news wrap: Biden and Xi to hold a video summit

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Thursday 7 October 2021

During the US session Wednesday there was some good news on gas, oil, and the US debt ceiling, check out Greg's wrap of the session if you missed it:

The Asian session chimed in with a bit of positive news also. After a meeting between between China's top diplomat Yang Jiechi and U.S. National Security Adviser Jake Sullivan it appears lines of communication between the two countries are more open and a little less chilly. And, further, US President Biden and China's President Xi have subsequently agreed to a summit meeting (virtual) at a yet to be set date, but before the end of this year at least.

US equity index index futures gained ground during the Globex (US evening) session.

Forex was more subdued, however, with a small gain for the Australian dollar pretty much the notable move. EUR, NZD, GBP yen and CHF are all little changed. As is USD/CAD which did dip earlier in the Asian morning but is, as I post, little net changed also. It was a bit of a placeholder session in FX Asia, which is not unusual for a Thursday ahead of a US Nonfarm Payroll release due on Friday. 

As I grab a screenshot the AUD giving back some of its earlier small gains:

Forex news for Asia trading onThursday7October 2021
Still to come on Thursday:
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