ForexLive Asia FX news wrap: Sideways awaiting trade talks

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 9 October 2019  

The Asian session traded small ranges as markets await the recommencement of US/China trade talks beginning on the 10th. On Tuesday the US took action on visa restrictions (see the US wrap for more on this), and early in Asia time the Chinese embassy in Washington issued a terse statement, but the market response was minimal.  Later, the People's Bank of China set the onshore yuan reference rate barely changed, as it has been for weeks now. If this is any sign its likely a positive, though they may be saving the bullets for if talks break down, just guessing though.

Data from Australia today, monthly consumer sentiment from Westpac, was poor indeed. To a more than four year low. AUD went up, natch. ;-)

NZD/USD moved a few points higher on the day also, as did EUR/USD. CAD a little better also while cable is basically flat. 

USD/JPY fell under 107 in the Tokyo morning but has since recovered to be just under 107.20 and little net changed on the session.

Overall a subdued day with little news nor data. 

Don't forget - its FOMC minutes day!

Forex news for Asia trading Wednesday 9 October 2019  

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