ForexLive Asia FX news wrap: Tight FX ranges

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Thursday 9 July 2020

Currencies found a little buying early in the session against the USD, testing toward or slightly above US traded highs. AUD and NZD both managed to pop their highs but these were quickly rejected. USD/JPY ticked down under 107.20 before its recovery.

Having said all this the ranges that ended up tracking out during the session here were only small.

News flow was limited during the session, the usual confirmation US coronavirus cases were surging and much more subdued gains locally here in the region, Tokyo new cases dropped back into double digits from a string of 100+ days. Date flow was focused on Chinese inflation data. The release was marred by an error from China's Statistics Bureau, which published the June 2019 numbers instead of June 2020. After much confusion the results were finally correct, but forex moves were minimal on the release.

Stocks in China are up again as I post, Shanghai Composite +0.6%.

Small moves onlyForex news for Asia tradingThursday 9 July 2020Title Here

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